# Property purchase



## J0hn0 (Jun 10, 2011)

Hi guys,

I am looking for a bit of help. I am a 26 year old offshore contractor. I am looking to buy a house in the USA and live there for no more than 6 months of the year. I am not sure if I need to apply for a residency and the likes in order to buy a property. I am not interested in working as I earn a living offshore in various parts of the world (save for the USA so far..!). I intend on living in the property and do not wish to rent it for the times I am not there. What I really need to know is if this is possible or if I will have to go through endless red tape and perhaps apply for residency.

Many thanks for any help,

John


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## twostep (Apr 3, 2008)

This is a regular topic. Search function will bring lots of information. In a nutshell - the purchase of residential realestate has no bearing on immigration status. Depending on your natrionality you may be able to travel via ESTA or apply for B2. Either one does not entitle you to entry or a specific length of stay. It is at the discretion of the immigration officer at point of entry to determine if you will be granted up to 90 or 180 days of stay. Frequent entries tend to raise red flags.
You cannot "apply for residency" unless you go the route of certain investment visas; the least "red tape" is EB5 with an investment at risk of 500k. Details can be read up at uscis.gov or in the stickies.
You understand that it will be almost impossible to get a US loan to cover the purchase or a portion of it.


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## J0hn0 (Jun 10, 2011)

Thanks for the reply. At least I am able to buy a property without too much hassle. Entry on the other hand may be trouble but...No need for a loan/mortgage fortunately. Thanks for the help


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## twostep (Apr 3, 2008)

J0hn0 said:


> Thanks for the reply. At least I am able to buy a property without too much hassle. Entry on the other hand may be trouble but...No need for a loan/mortgage fortunately. Thanks for the help


No matter how much you like your real estate agent - he/she is after a sale. Not more not less. Get details about covenants with or without HOA, find out about recent real sales in the larger market, proposed developments, easements. Real estate taxes, utilities, management company to keep it up during your absence are small change. Most of all and as you are a cash buyer your agent will push - do not sign unless you have a clear socalled "title policy" in hand. Basically a policy underwritten by special insurances stating the title to the property is clear and free. Good luck!


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## J0hn0 (Jun 10, 2011)

twostep said:


> No matter how much you like your real estate agent - he/she is after a sale. Not more not less. Get details about covenants with or without HOA, find out about recent real sales in the larger market, proposed developments, easements. Real estate taxes, utilities, management company to keep it up during your absence are small change. Most of all and as you are a cash buyer your agent will push - do not sign unless you have a clear socalled "title policy" in hand. Basically a policy underwritten by special insurances stating the title to the property is clear and free. Good luck!


Thanks very much for the info, I shall be sure to be vigilant. I have a friend in NYC who can recommend me a good lawyer. Shall report on how the whole experience goes. I shall then have to find a good lady to marry me and hopefully get a proper permit to live there! Cheers again


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## Guest (Feb 7, 2012)

Just noticed this thread - as a British you probably won't have problems owning property in the US without proper residency - however before you buy that property do some research into taxes + maintenance costs for US owned properties especially in New York, in most cases the costs of ownership in US (taxes+maintenance) is a lot lot higher than anywhere in Europe... in Nyc almost 3 times more than London....basically the house taxes in USA are 2.5% of the purchase price + if it is a condominium then you have a compulsory monthly maintenance charge, for $500k property just your taxes could be over $1000 a month.


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