Can a foreigner without green card purchase a house in the U.S?
Yes. The U.S. is a mature economic market that welcomes people from the world to invest and purchase homes. Its transparent legal system protects the interest of both the buyers and the sellers. Anyone with a passport can purchase a house without being present and all procedures can be done online or via fax.
Can a foreigner finance the property?
Yes. Foreigner can purchase a house with a loan. Minimum down payment is 35% and average interest rate is between 4%-5.5%.
How long is the house purchase process?
Once a house is identified and enter into contract, a cash buyer can close in two weeks. Whereas a financed property can take anywhere 30-60 days.
I can’t go to the U.S. often, what happen to my house?
A professional management company can manage your property for a fee. It can also rent out your property and take care of all the repairs, cleaning and maintenance.
What items to be aware of in signing the purchase agreement?
In China, when you buy a resale house, you sign a contract about 2-3 pages. The U.S. is a mature stable market, the contract has very clear and specific guideline and instruction on how to proceed and execute. As a buyer, you’d need to read it carefully to understand the detail.
Lily Lin Ly
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