are expats allowed to buy property

**dayalmjoshi** · 12-07-2008, 11:15 PM

Are expats allowed to buy property in United states on a tourist visa? depending on my salary which is again overseas will i be allowed to open a bank account and apply loan? Is there any immigration hassle which will stopme to sell it ona later date?

**MrREO** · 12-11-2008, 08:48 PM

To my knowledge, your difficulty will be in securing financing as a non-citizen, not buying the property itself. Anyone can buy property in the US, but that doesn't mean that anyone can borrow money in order to buy property.
Your best bet is buying in cash, if you can. If you're buying a rental property, a property manager can manage it for you even if you leave the US.
Good luck,

**dayalmjoshi** · 12-12-2008, 08:59 AM

Thanks Mr Reo for the reply.

**florida real estate** · 01-07-2009, 09:53 PM

Legal issue which you have to face and process little difficult but ultimately manageable but for that you need to consult property manger they can give your proper guidance.

**Codythebest** · 01-08-2009, 06:36 AM

The US are not open for business as in the past anymore, thanks to the W. administration.
If you come on tourist visa, you now have zero chance to have a loan. In the past, a 20% down would sufice. Today, it's over. You will not even be allow to open a bank account either.
You'll have to go to your local US ambassy and explain the why and how and when you want to buy a property. Just that will take you several months to fix.
I suggest waiting the next administration. They might open the door for business again, hopefully...
As an immigrant myself who bought properties in FL in the past, I might know more on these steps than my fellow US citizens here.
Another thing. BE VERY CAREFULL with managers for your properties if you live abroad. You will not be on site to see what's going on. I learnt it the hard way, believe me...

**donrock** · 01-09-2009, 06:06 PM

Are you planning to move to the US in the future? This is probably the deciding factor in buying property here in the US. If you aren't then things will be a lot more difficult as you will be dealing with property managers or
relying on your tenants to make payments and not tear the places up.
Not living here will also make it difficult to manage the money needed to buy and the rental income.
If you have relatives or friends here in the US the best bet might be to go into partners with them. Even if they were minority partners they could have bank account and take care of the real estate.
Do some research before jumping into anything.
Don