Buying A Home In Usa

[TheJoker12]

Long Story Short.

Buying a House in the USA.

Wife is Thai, myself American.

We want to put it in both of our names. What needs to be done so that this can happen? Can my wife simply sign the contract?

Our marriage was registered at the American embassy in Bangkok and her name is on my tax returns that i file in the usa.

My wife has a tourist visa only. we do not live in the usa. this will be a second home.

Edited February 28, 2010 by TheJoker12

[GrahamF]

Different states have different rules when it comes to Real Estate. It should be possible to put your wife on title, although there may be complications due to the Patriot Act. The best thing you can do is contact a title agency in the state where you will be purchasing the home. The other thing you may end up doing is adding your wife to the title after closing. Contacting a title agency is your best bet, your Realtor in America should be able to put you in contact with them or even better, find out the answers for you.

Where are you thinking about buying?

[TheJoker12]

Florida.

[Jingthing]

Get both names on the title. Common as eggs. Non citizens, no problem. The US ain't Thailand. Nothing to do with patriot act. Any real estate agent can advise.

[Gonzo the Face]

Florida.

Have I got a deal for you.......

What part of Fla..... no matter

[bonobo]

A non-US citizen can buy a house on his or her own.  There are no restrictions--in fact, there are federal laws in place which make it illegal to discriminate in selling a house to anyone based on race, religion, or nationality.

You will have no problem getting her on the title.

[TheJoker12]

plenty of deals... looking at 3000 square feet homes brand new in gated communities for 140k today.

[TheJoker12]

ok but does she need a specific visa or any specific documentation?

A non-US citizen can buy a house on his or her own. There are no restrictions--in fact, there are federal laws in place which make it illegal to discriminate in selling a house to anyone based on race, religion, or nationality.

You will have no problem getting her on the title.

[anothertorres]

yes, as joint tenants.

[bonobo]

ok but does she need a specific visa or any specific documentation?

A non-US citizen can buy a house on his or her own. There are no restrictions--in fact, there are federal laws in place which make it illegal to discriminate in selling a house to anyone based on race, religion, or nationality.

You will have no problem getting her on the title.

She needs proof of who she is.  I imagine her passport and her Thai ID would suffice.  I can ask a Thai friend of mine who bought a house for his son to live in while he went to school to see what he had to show.

[Jingthing]

If you want a ridiculous bargain there are still many foreclosure properties for sale. Just heard of one in an urban suburb, 2 bedroom, 2 bath fee simple townhouse, 30,000 dollars. Cheaper than Thailand. Amazing.

[AndyBlueEyes]

It is extremely common for non citizens and non residents to buy second homes in the US and there are no visa requirements.

Florida RE has been so hard hit since the bubble busted that I think they would even let your dog buy a house there if it had the money. You have chosen a great time to buy a house in Florida as prices are way down (the condo market was even harder hit) and deals abound. Financing can sometimes be a major problem (especially now that loan money is very tight) for non citizens/ non residents but that would not apply in your case since you are a US citizen.

[WarpSpeed]

^I'd like to quote but the quote function doesn't work for me these days so this is the best I can do....Yes, if you finance the house she is going to have difficulty where the mortgage is concerned as she is not likely to be considered on the deed unless she can personally qualify for the mortgage without any of your income. I'm not sure how any insurance policies factor into that qualification...

The safest/easiest thing to do for both of you is to give her a "quit claim deed" in which she will be listed in the event of your death so no complications, but technically she is not the deed holder..

[lovelomsak]

I donot wish to be negative and amnot just wish to advise on something I have been made aware of in the southern states.

Water has became a real issue there. By this I mean the whole infrastructure is there to supply it but there is little to had. Phoenix is especially hard hit. Can buy a condo on your visa card. But donot expect to take showers. Discounts of over 70% are not uncommon.

So my advise is check it out good before you buy.

Edited March 1, 2010 by lovelomsak

[nakachalet]

plenty of deals... looking at 3000 square feet homes brand new in gated communities for 140k today.

are you kinda dreaming a bit.... and

are you NOT stretching your imagination and your dollar value a little too far out....?

3,000 sq ft for 140,000 usd....? and in a gated community as well....?

by the way, what is the home made of....?

in a northeast community by san francisco, an 1,800 sq ft home in a 30 yr old community stood empty for over 180 days before it was closed at 300,000 usd....

a reasonably well constructed home at 3,000 sq ft for 140,000 usd.... is a very interesting investment....

yes, it all depends on location, location and location.... LOL

to the op, most people from the pacificrims, would purchase their home without mortgage.... if you are in such a group, use and empower your cash to the n^th power.... use it as a negotiator to buy more real estate values.... ok?

another word of caution.... particularly in southern florida.... there are proportionately more highly educated professional real estate crooks who would take you to the cleaner.... if you are not careful....

when you are there get in touch with two or three real estate title companies.... and ask them to recommend a few competent RE lawyers.... interview each.... until you find one that you feel comfortable with.... most lawyers will give you a 30 min free consultation.... so use it to your advantage....

more importantly.... never use seller's broker to close your side of the transaction.... sellers' brokers are there to represent sellers and you as buyer and your buyer interest is subordinate to sellers--whether you like it or whether you know it or not.... and brokers are protected by laws to act in that capacity.... that is to solely represent sellers' interests....

so as a potential buyer you really need to have your own broker or real estate attorney to represent you and your interest at closing.... particularly, do not ever believe any one or what they say is ok or not ok.... if you do believe anyone or trust anyone.... you would have no recourse in court, when thing goes wrong....

from your post, it appears that you really need a competent real estate attorney to represent you and your interest.... imho.

Edited March 1, 2010 by nakachalet

[TheJoker12]

home was sold in 06 for 250k new. now they are bank owned and almost half the price. florida is not san fran for all purposes. i guess its not brand new, its been lived in a year or so by somebody. thanks for all the information.

Edited March 1, 2010 by TheJoker12

[Forethat]

I have been a frequent visitor to most parts of Florida until a couple of years ago when I relocated to LOS. A couple of years ago (even before that big crisis) the prices dropped like stone. Entire subsections were put on halt. The most severe drop in prices I have ever seen happened in Port St.Lucie where an average property in one of the many communities - typical florida property with a 30-feet pool - that was priced at $450.000 dropped to 250.000 in one year. This was March 2008. A friend of mine bought a similar sized house facing a golf course in Port St. Lucie six months ago and paid $160.000

It should be noted that Port St.Lucie is one of the areas that has suffered the most from the credit crunch. Foreclosures everywhere.

There's a tax rebate on properties in US if you close a deal before end of April (please check the details on this if you're serious about getting a property in US this spring cause I am not 100% sure about the details)

Edited March 1, 2010 by Forethat

[witold]

Get both names on the title. Common as eggs. Non citizens, no problem. The US ain't Thailand. Nothing to do with patriot act. Any real estate agent can advise.

+1

Assuming you have the cash - or can qualify for a loan on your income alone - this will not be a problem at all.  In the US, anyone can buy houses and there are plenty of non-resident foreigners that buy residential and commercial real estate for their investment portfolio.  The only time adding a person could be a problem is if that person has bad credit history.  Since your Thai wife has no credit history in the US, this won't be a problem.  

LOL at the person who is concerned about lack of water in Florida...  

Florida is a very big state.  Once you get outside of the famous areas like Miami/Orlando/etc, there are plenty of places that are dirt cheap.  

[senshusband]

I can't say about real estate, but I know that my wife is not yet able to be included on my bank account since we have not completed her green card process yet, therefore she does not have a social security set up that is neccessary in having a bank account. So, if you want to pay cash for the house, it should be easier than if you get a loan. Reason being, IMO, is that if something should happen to you then she would be the next in line to pay for the house. If she doesn't have a bank account, it would make a loan very difficult. Just my thinking.

[eggomaniac]

Wait a minute. You might want to explore the options of not having her on title. First of all, the house will be considered half hers anyways, because of nuptial statutes.

IF, where you are buying has any home buyer incentive grants, you don't want to burn that off on the first home.

But the next house can be in her name.

A. if you live together happily ever after, it doesn't matter whose name the house is in

B. if you divorce one day, it doesn't matter whose name it is in, the courts will divide the assets in 1/2 anyway, barring prenups

C. If there are incentive grants it DOES matter whose name it is in. In Canada, here, many couples buy the first house in one's name and the second one, when they upgrade, in the other spouse's name. legally the houe will belong to both of you, even it is in one name, barring some prenup.

---------

Now her being Thai and all, it might be a really big thing to be 'on title' and hard to explain. just make her realise when you upgrade the next house will be in her name only.

All of the above is only IF there are grants, but IF there are, this Message is worth a good few thousand dollars.

------ just ask a realtor and/or loans officer if there are home buying incentive grants, that can be used only once in 6 years and if the spouse can use it on the second home

Edited March 1, 2010 by eggomaniac

[Naam]

Get both names on the title. Common as eggs. Non citizens, no problem. The US ain't Thailand. Nothing to do with patriot act. Any real estate agent can advise.

correct! you show you IDs at closing and it does not matter what citizenships the passports show.

[thaihome]

I am curious how the OP did this "Our marriage was registered at the American embassy in Bangkok"

And since "her name is on my tax returns that i file in the usa", I assume she has obtained a TTN which he failed to mention.

Same thread started by "wife" in another forum.

Somehow I think this is a troll trying to start discussion about foreigners being able to own property in the US but not Thailand

TH

[bendejo]

If you want a ridiculous bargain there are still many foreclosure properties for sale. Just heard of one in an urban suburb, 2 bedroom, 2 bath fee simple townhouse, 30,000 dollars. Cheaper than Thailand. Amazing.

Where in the US was this, and what condition was it in? Sometimes when stories like this get passed on little details like asbestos and termite damage tend to slip the speaker's mind.

I know a guy in Rhode Island got a fixer-upper for app. $15k, said it just needed some sheetrock and a good coat of paint.

[Kf6vci]

Escrow will prepare the document and you can sign it at the embassy.

Usually, folks do some quit claiming instead. If you are paying, re-consider.

What's the big deal? You will enjoy the house together but in case of a divorce,

it will be all yours.

I would consider renting - property taxes and all, maybe HOA fees?

Chris

[steelepulse]

On a slightly different tangent, what's the situation of a foreign company buying a house in the states and putting the house in the company name and not an individual's name?

[Neeranam]

I am curious how the OP did this "Our marriage was registered at the American embassy in Bangkok"

And since "her name is on my tax returns that i file in the usa", I assume she has obtained a TTN which he failed to mention.

Same thread started by "wife" in another forum.

Somehow I think this is a troll trying to start discussion about foreigners being able to own property in the US but not Thailand

TH

Agreed, very trollish - who in their right mind would choose to put their Thai wife's name on an American property.

[Naam]

On a slightly different tangent, what's the situation of a foreign company buying a house in the states and putting the house in the company name and not an individual's name?

i wanted our second house to be owned by our company but then decided against it. it is possible but too much administrative hassle. private ownership by foreigner(s) is a breeze.

[TheJoker12]

trolling? jeez, u guys take everything personally don't you?

[steelepulse]

On a slightly different tangent, what's the situation of a foreign company buying a house in the states and putting the house in the company name and not an individual's name?

i wanted our second house to be owned by our company but then decided against it. it is possible but too much administrative hassle. private ownership by foreigner(s) is a breeze.

Thanks Naam.

[Kf6vci]

Well, you better dig deep - this sounds too good to be true. And HOA fees are a killer (I looked at a house in a gated Longboat Key community in the late 1990s and the cash flow was negative by $ 10,000 p.a. Tennis courts and all need to be paid for.

Last year, I bought a 3387 ft home - but that was not new. Paying $ 211 k to close escrow. Vacancy for half a year, the PM company thought it would rent for $ 1,900. Now someone m i g h t take it @ $ 1,500. Enough said.

Not using it? rent!

check out the hazard insurance, then property taxes, HOA fees and reconsider. I should have bought a 4-plex for twice the rent income at the same price.

Read www.doctorhousingbubble.com and note that things in FL are not that much different from CA.

You can fly over, rent a great furnished home for 6 weeks and not have the risk of ownership.

A NEW 3,000 ft home costs several times the asking price to build. It starts with the permits, utilities and school bond fees. Tens of thousands later, you pay for the lot. Now do the math - a good house costs way more than $ 100 per ft to build, at the general contractor's COST (no mark up or profit yet). Location? Location!! Would someone rent the place - for how much? I found it really terrible renting out a large home.

Good luck, just go for quality, not size. I know a short sale of a great 4,950 ft place with 6 garages and a pool in Southern CA for $ 400,000 on 5.8 acres. Buying it is easy (it was once upon a time a $ 1.3 million house). Now try renting it out for maybe $ 2,500. Yeah - a nurse with 2 adult daughters, 3 dogs and a cat may apply. and you know there will be men-friends moving in as well...

Take your time and go over there to check this and other deals!

Chris