# Buying in the USA



## barry1978 (Jan 16, 2009)

Hi,
Looking for some advice on buying a home in the USA. 
As a UK citizen is there anything stopping me from owning a home in the USA?
I work in the British Merchant Navy so my plan would be to spend my leave, between 2-3 months in my USA home, while my working time would obviously be at sea or a short time home in Scotland. 
I think I can still enter under the waiver and stay for 90 days at a time. Is this correct? Also does anyone know if there are limits on how many times you can enter under the waiver in a calender year? I work roughly 3 months away 2 months off, so would be entering the States every few months to "reside".

Thanks


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## tomben (Dec 31, 2008)

barry1978 said:


> Hi,
> Looking for some advice on buying a home in the USA.
> As a UK citizen is there anything stopping me from owning a home in the USA?
> I work in the British Merchant Navy so my plan would be to spend my leave, between 2-3 months in my USA home, while my working time would obviously be at sea or a short time home in Scotland.
> ...


Absolutely-In this great country getting a piece of the American Dream is something that you do not need to be an American citizen. 
Your main problem will be qualifying for a mortgage and having more than 20% to put down. You might need to get a federal tax id setup first but I'm not sure on that. 
regarding the visa waiver, be careful on that. I'm not aware of any hard rule it looks to be upto the immigration officers. I say that as my wife on her 3rd visit to the US in 18 months was hauled off into an interrogation room at Boston Logan Immigration and shouted at by officers demanding to know what she was up to.


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## Fatbrit (May 8, 2008)

barry1978 said:


> Hi,
> Looking for some advice on buying a home in the USA.
> As a UK citizen is there anything stopping me from owning a home in the USA?
> I work in the British Merchant Navy so my plan would be to spend my leave, between 2-3 months in my USA home, while my working time would obviously be at sea or a short time home in Scotland.
> ...


You can buy the house but it gives you no rights to reside here. You might succeed with your plan for a year or so, then the pattern on the computer will catch a CBP officer's eye and that's generally the end of the party.

The "rule of thumb" is to spend out at least as much time as you spend in, which indeed you would. There is no limit to the number of entries and exits per year. Your problem however comes with the requirement that you need to maintain a residence outside the US. I doubt your ship would cut it.


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## xarp (Feb 18, 2009)

Hi Barry,

so far I know - you will need to pay much more down for the mortgage than 20%. I am guessing that 30-40% downpayment will be required since you are a foreigner.

About the issue of getting some residency status - I have heard that if you buy property for quite a big amount (more than $500) you can get some kind of residency status with it. However I am not sure about this, just heard it from my friend. 

Also I came today across a site that might be interesting for you - it's a blog about investing in american real estate as a foreigner: removed (Buying Property in USA blog). It's just starting but I think that soon we might find there quite interesting info. I am interested in this topic too.

I wish you good luck!


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## twostep (Apr 3, 2008)

xarp said:


> Hi Barry,
> 
> so far I know - you will need to pay much more down for the mortgage than 20%. I am guessing that 30-40% downpayment will be required since you are a foreigner.
> 
> ...


Please do not support third party rumors you cannot substantiate. There is NO visa of any kind for property owners. USCIS has detailed information about all visa catagories on the web site.

Banks are still lending money but residential real estate as collateral will not be sufficient for a foreigner to secure financing. Not 20, 30 or 40%. If necessary it will have to be financed in the UK.


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## Fatbrit (May 8, 2008)

twostep said:


> Please do not support third party rumors you cannot substantiate. There is NO visa of any kind for property owners. USCIS has detailed information about all visa catagories on the web site.


100%!
Buying a property in the US gives you no right to live in it.


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## xarp (Feb 18, 2009)

*Are you really so sure?*



Fatbrit said:


> 100%!
> Buying a property in the US gives you no right to live in it.


Well guys, why are you so sure about that? I have searched just little bit more about it and it seems to be possible. However the investment must be quite bigger (around $500 000).

On this page:
$500,000 EB-5 Visa Program (GREEN CARD). Vermont EB-5 Visa, Green Card Investor Program - US Permanent Residency via EB5 Visa. - You will probably delete it anyways.

is written:
Rapid USA Visas exclusively introduce you to an EB-5 Visa program whereby you and your immediate family may receive U.S Permanent Residency (Green Cards) in a year or less by making a passive investment of $500,000 into the State of Vermont Government Approved EB5 Visa Regional Center.

It is only for Vermont, but I think it might exists in different states as well. I don't know more about the details, but possibly it could be used for the investment in properties as well.


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## Fatbrit (May 8, 2008)

xarp said:


> Well guys, why are you so sure about that? I have searched just little bit more about it and it seems to be possible. However the investment must be quite bigger (around $500 000).
> 
> On this page:
> $500,000 EB-5 Visa Program (GREEN CARD). Vermont EB-5 Visa, Green Card Investor Program - US Permanent Residency via EB5 Visa. - You will probably delete it anyways.
> ...



You're an incredible wealth of knowledge, aren't you?

BTW, immigration is an exclusive federal issue rather than a state one.


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## xarp (Feb 18, 2009)

Fatbrit said:


> You're an incredible wealth of knowledge, aren't you?
> 
> BTW, immigration is an exclusive federal issue rather than a state one.


Nope, I am just open-minded.. 

Here is the link to uscis.gov about the program: Immigration through Investment

Apparently the main thing is that the investment has to create some full time jobs in the area. So it would have to be rather some new building project possibly. I know it's probably not for most of the people, but still this can be an option for somebody.


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## twostep (Apr 3, 2008)

Purchase of residential real estate does not constitute investment. 
Please read the original question. Thank you.
An investment business has to provide employment plus be profitable within three years. The current state of the US construction and realestate market may have escaped you.


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## xarp (Feb 18, 2009)

twostep said:


> Purchase of residential real estate does not constitute investment.
> Please read the original question. Thank you.
> An investment business has to provide employment plus be profitable within three years. The current state of the US construction and realestate market may have escaped you.


Sorry then. I was just trying to help and give more options.. I won't be posting anything to this thread anymore..


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