Out-of-Country Property Purchase
During the period of April 2014 and March 2015, Texas was one of four states that became home to over 50% of property owners who relocated to the United States from foreign countries. If you currently live in another country and are wanting to purchase a property here in the Lone Star State, we will be happy to assist you. It is important that you enlist the services of a real estate agent to ensure that the details of your purchase are competently achieved, so that your transaction goes smoothly.
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International Home Buyers
Buying property in Texas has historically been a great financial investment for foreign investors. Some purchase property as a second home or a vacation home. Still others enjoy investing in rental properties. Historically, residential real estate has appreciated and has been a good investment opportunity.
We recommend that you come for a visit and preview the areas you are considering. However, you can always have a real estate professional assist you in finding a good property at a fair price if you are not able to make the trip. We would recommend that you hire a real estate attorney in addition to your real estate agent. This will give you an added layer of comfort about your entire transaction. Knowledge of local real estate laws is important. So, you will want to familiarize yourself with Texas laws. An experienced attorney can help you navigate these matters as well.
Some things to consider...
- What type of visa do you own? When does it expire? The United States has rules and regulations about property ownership for out of country purchasers. Just because you own a property does not guarantee that you can occupy it.
- How do you plan to pay for the property? You may need to ensure that cash payments are easily transferred to the US before you even begin to start looking at properties.
- Are you planning for this property to be an investment property that you will rent out? Be sure to review the IRS regulations regarding what the agency calls "foreign persons." You will likely be required to hire a property manager that has experience in collecting and distributing IRS taxes on annual rents if you decide to do this.
Regardless of your residential real estate needs, we have the resources you need to ensure that you locate the property you want. It will be our pleasure to assist you in the process.
Contact us for additional information about purchasing real estate in North Texas.