| Can an non-resident alien buy a home in Los Angeles? | | | | Non-resident aliens purchasing homes in LA should |
| The answer is yes. Definitely, yes. If you are | | | | first get sound real property advice from legitimate |
| somebody who is dreaming of owning a property in | | | | and licensed real estate agents. That way you are |
| Los Angeles then today is the day to stop dreaming | | | | properly oriented on property tax and laws, |
| and to actually start owning your own home in the | | | | ownership requirements as well as mortgage and |
| fun, upbeat and laid back communities of Los | | | | financing details should you find it necessary to avail |
| Angeles. | | | | of such. |
| If you are a foreigner out to invest in real estate | | | | If you are buying the property with hard cash then |
| property in the United States, now is definitely a | | | | you are likely to encounter less problems. Foreigners |
| good time to go bargain hunting. The downtrend the | | | | or non-resident aliens interested in purchasing homes, |
| United States real estate market has caused home | | | | condominiums or town houses in LA should prepare |
| prices to drop nearly 30% between June 2007 and | | | | to be able to put in a 30% to 50% down payment |
| June 2008. The real estate market has been opening | | | | on the property. Interest rates on the financing of |
| up to a lot of investors with minimal requirements, in | | | | course will vary depending on how much initial down |
| order to get bad loans and foreclosures off their | | | | payment you have made. A substantial amount of |
| back. This could go on for some time until the | | | | collateral of proof of your capability to pay your |
| economy fully recovers. | | | | loans and mortgages may be required as well in order |
| Real estate purchases in the United States are more | | | | for non-resident aliens and foreign nationals to avail of |
| popular now especially among the European market. | | | | mortgages and loans. |
| It is estimated that at least 20% of foreigners | | | | Likewise, be aware that foreigners are subject to |
| purchasing homes in the US come from Europe and | | | | the same federal ans state property taxes as with |
| the United Kingdom. The downtrend in the economy | | | | any other homeowner in the United States. |
| and the diminishing value of the dollar is definitely | | | | It is important to know however, that property |
| working towards their advantage. | | | | ownership totally has nothing to do with gaining |
| The slump in the real estate market has likewise with | | | | permanent residency status, acquiring a green card or |
| an even greater number of homes up for sale. As a | | | | with a bid to become a citizen of the United States. |
| matter of fact you have so many homes in so many | | | | Owning a property in LA or in any US state for that |
| locations that you can choose from. The chances of | | | | matter is an entirely different process from what the |
| you actually being able to buy the home you really | | | | US immigration requires. |
| want and need is huge. | | | | Best of luck in finding your dream home in LA! |