Investing in US real estate can be a lucrative opportunity for non-US buyers seeking to diversify their portfolios and potentially generate passive income. However, one of the key challenges faced by international investors is securing the right financing. In this blog post, we'll explore the essential steps and considerations to help non-US buyers find the best lender to finance their US real estate investments.
- Work With People and Firms That Specialize in International Buyers–International Real Estate Consultants (IREC) offers its clients access to specialty financing that allows international buyers to purchase exactly the type of properties that meet their investment needs, at no charge to the client.
- Open A US Banking Account–purchasing a property using specialty financing will require a US based checking account. A Global Buyer can choose to open a checking account with a bank that has branches in the area where they would like to invest; another good option is to open a checking account with an established online bank such as Ally or Capital One. IREC is happy to work with its clients to recommend the best choice for a US checking account.
- Choose An Accomplished Local Real Estate Agent–IREC works with the top network of real estate agents nationwide to recommend the best agents to represent its international clients. Local knowledge, trustworthiness, proven experience in the types of real estate desired by the client, and proven ability in negotiation and contracts are essential. IREC will recommend the best fit between clients and agents and actively participate in every step of the real estate selection and purchase.
- Supply Full Financial Information to the Lender–specialty financing requires that the lender fully understands the international buyer’s financial position, so be ready to share all relevant financial information.
- Be Ready to Examine and Choose the Best Financing Option–specialty financing will typically have a range of lending options available to the international buyer of US real estate, so be ready to analyze what type of financing will work best for each situation.
- Understand the Timing of the Transaction–purchasing real estate in the US varies from state to state but typically takes 2-4 weeks for a cash transaction and 4-8 weeks for a financed transaction. There are numerous steps along the way that IREC and a local real estate agent can explain in detail once a contract has been entered
Securing financing for US real estate investments as a non-US buyer can be a manageable process with the right knowledge and support. By understanding the US real estate market, working with local experts, and choosing the right lender, you can make a successful investment that aligns with your financial goals. International Real Estate Consultants offers its clients expert advice and help every through every step of the process, at NO CHARGE TO THE CLIENT.
