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What Non US Citizens Should Know When Purchasing Property In The US

By
Real Estate Agent with Coastal Real Estate - Cape Coral FL SL3150658

What Non US Citizens Should Know When Purchasing Property In The US.  I am active on several different websites and on a regular basis I see questions from consumers asking What Non US Citizens Should Know When Purchasing Property In The US.

One of the biggest areas of confusion is in regards to property taxes and homeowners insurance.  In reality property taxes and homeowners insurance have everything to do with the property itself and how the property is being used.  Here is Lee County, FL homeowners can get a nice break on property taxes if the home is used as the owners primary residence and is "homesteaded" with the county.

I have a detailed brochure regarding What Non US Citizens Should Know When Purchasing Property In The US.  I have provided the brochure to numerous Canadian buyers over the years and they have found it to be very informative.  If you would like for me to provide you with a copy please feel free to contact me.  Disclaimer:  I am not a tax advisor so all consumers are advised to consult with a tax professional for tax advice.  

Comments(3)

Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

Canadians should also be very wary of the regulations from this end Terry. If they spend too much time in the States without coming home, they may lose some of their benefits (including health coverage).

Sep 26, 2012 01:58 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Terry, 

Great info for non US buyers.  I did sell to a client who had rented for a few years first on an international assignment.  He asked me if it was harder to get a VISA (to work here legaly) or get a mortgage.  Since I've never gotten an international VISA, I shared that I didn't know, but would love for him to share his thought after he had bought the home. 

He found getting a mortgage more paperwork than applying for a work VISA!    However, he is a very happy new homeowner.

All the best, Michelle

Sep 26, 2012 01:59 AM
Terry McCarley
Coastal Real Estate - Cape Coral FL - Cape Coral, FL
REALTOR, SRES, CDPE - Cape Coral, FL

Excellent point Malcolm!  Canadians have to be very cautious about how long they stay because you are 100% correct about the possible loss of some benefits.

 

Congrats Michelle on successfully making him a homeowner.  Mortage paperwork is extreme but fortunately I work with a local lender that does loans to Canadian buyers so that has worked out very well for me.

Sep 26, 2012 02:02 AM