International Buyers Guide
Are looking to purchase a property in the Orlando, Florida area but you actually live in a foreign country? I’d be proud to assist you in the process of doing so… I encourage you to be sure to use a licensed Florida real estate agent that has experience working with Non U.S. Residents. There are many real estate brokers and agents in Central Florida, so selecting someone who is experienced in assisting foreign nationals with their Orlando home purchase is extremely important.
Is it legal for me to purchase a property in the United States if I am not a United States Resident?
Absolutely, there are no special Visa requirements needed to purchase a new home in Florida. It’s the same for residents and non-residents of the United States when it comes to residency.
Buying a home outside of the United States is a different experience. Please explain how the MLS works. I am not familiar with it and I hear so much about its usefulness in the buying process.
In the United States we use the Multiple Listing Service, or the MLS. The MLS provides real estate agents access to all properties that are currently for sale on the market. It’s important to know that by utilizing the MLS, a buyer can develop a healthy relationship with an agent and research the available properties together. It’s very important to realize that any fees or commissions associated with the purchase are paid by the seller, not by the buyer.
I am extremely fortunate to have had a long and successful Central Florida real estate career and have assisted buyers find properties in popular communities such as Orlando, Windermere, Dr. Phillips, Winter Garden, Winter Park, Celebration, Lake Nona and many more areas that are only a short drive from the world renowned Orlando theme parks.
I have been considering the purchase of a new construction home in Central Florida area. I have heard I can deal directly with the builder. Is that a wise decision or is using a real estate agent a benefit to me?
It’s extremely important to realize that when considering the purchase of a new construction home from a builder, there is absolutely no cost to the buyer at all! It is totally free. Having a real estate agent when purchasing a new construction home is optional, but having a real estate agent with you means you have an experienced advocate assisting you through the entire process, and as I said… it’s FREE!
By involving me, David Dorman as your own real estate agent, you will be guided by honesty, integrity and experience. I am there to assist you through the decision stage and the price negotiation stage as well. I am your side… every time! It’s so important to utilize my understanding of the Central Florida community. I find great satisfaction in matching up buyers with their perfect home, whether that’s an existing home or a new construction home.
Foreign nationals can often be concerned with the purchase of a new home because they are not able to be available during the building process. Once again, I bring great comfort to foreign nationals purchasing a home by establishing a line of communication that makes it possible to keep the buyer updated consistently.
Are Foreign Nationals taxed differently when buying a property than U.S. residents?
In Florida, homeowners receive a $50,000 “homestead exemption” on their first and primary residence. Both Foreign Nationals and U.S. Residents are taxed exactly the same when purchasing vacation and investment properties.
Do I need and ITIN number and could you please explain what it is
Once you have purchased a property in the United States, as a Foreign National, you will be required to obtain an Individual Tax Identification Number (ITIN) . An ITIN number is a U.S. tax processing number for foreign nationals used by the federal government who are not eligible for a Social Security number. I am more than willing to assist you in this area. This is what I do, and I enjoy making sure Foreign Nationals are at ease during the process by my sharing these types of issues. I will also recommend an experienced Title Company that will perform a “title search.” A Title Company will make sure that the property is free and clear and available for a clear purchase. At the Seller’s cost a title insurance policy will be issued to the Buyer for any items that may have been missed during the title search process. However, in the case of the purchases of new construction homes the buyer will be asked to pay for the title insurance policy.
I have been told I can finance the property even though I am a Foreign National. Is that accurate.
You can expect a minimum requirement of 30 – 40% down payment with a minimum sales price of $300,000. I will be sure to assist you in contacting an experienced foreign national mortgage broker. This is obviously a very important part of the home buying process, and I am here to help you! I am an experienced Central Florida real estate agent and am willing to assist you through the entire process as a Foreign National. Remember, all Central Florida real estate agents are not the same! When you hire David Dorman… It’s All About You!