The question is...."Can I buy my little piece of paradise on Hutchinson Island, Florida?" Or if I was to paraphrase the question it would be, "Can I buy property in the United States if I am not a citizen? And all of us Realtors stand up and say......."YES"!
It is my understanding that Foreign Nationals are allowed to own real estate in the US. If not, I am in trouble already! In fact, there are very few differences between a foreign and a citizen when purchasing real estate. My only caution to my foreign clients is that purchasing a home on Hutchinson Island does not circumvent our immigration or visitation laws.
It is important that the Foreign Buyer understands the buying process and knows some basic information about general US real estate practices that may vary greatly from a buyer’s home country.
For example, Transparency. In the United States the buying and selling of real estate is very transparent. Unlike many countries, the U.S. and Florida require that a new listing for sale be posted on a Multiple Listing Service. A foreign buyer does not need to go from agent to agent to agent in the hopes of finding the right property. For instance, even though my area of concentration is Hutchinson Island, Florida, if I have a client interested in a home in Portland, Maine through Keller Williams I have an associate that can help.
Secondly, is our honor by law and by acceptance. The real estate profession in the United States and Florida is one of the most highly regulated of all businesses. "Buyer Beware" is no longer the standard here in the U.S. as it is many foreign countries. Here in Florida, the standard is "Real Estate Agent Beware!" Our duties to our buyers and sellers are held to the highest standards of honesty, professionalism, and integrity or be prepared for the consequences. As a foreign buyer or seller, you may trust your U.S. Realtor completely.
I am writing this blog because I have financially qualified clients from Russia, Poland, and Switzerland who have expressed these concerns. In fact, I am adding a new page to my website just for FAQ by foreign buyers.
If this is the first time reading our blogs, my wife, Pam, and I come from and extensive entrepreneurial background. After selling our last business we relocated to our beloved Hutchinson Island Florida. While we enjoyed all of the free time for tennis, golf, boating, fishing, and beach stuff, in the end we are entrepreneurs. We decided to try real estate as our latest entreprise and we love it! We have tried to make our website as informational as possible, but if you have questions, please let us know. We look forward to almost any excuse to go exploring on Hutchinson Island!