Rules/Restrictions for a Brazilian Buying US Real Estate?

[SallyX]

What is the name of your state (only U.S. law)? Florida
A friend of mine from Brazil wants to purchase a condo here in Florida. She asked me about the legalities and the process involved, but I don't know the ins and outs of foreign nationals buying real estate here. Can someone give an overview, or perhaps point me in the right direction? Thank you.

 

[tranquility]

If someone has money, we have property.

 

[quincy]

What is the name of your state (only U.S. law)? Florida
A friend of mine from Brazil wants to purchase a condo here in Florida. She asked me about the legalities and the process involved, but I don't know the ins and outs of foreign nationals buying real estate here. Can someone give an overview, or perhaps point me in the right direction? Thank you.

First, your friend will need to familiarize herself with the laws in Brazil that may limit her when purchasing property in the U.S.

Then your friend will want to find a realtor in the U.S. who specializes in sales of U.S. properties to foreigners. She can locate a realtor through the National Association of Realtors (http://www.realtor.org).

There are several areas of the law involved when someone living outside the U.S. wishes to purchase property inside the United States. Both federal and state laws apply to the purchase (and state laws can vary).

There was an article written by Daryl Paranada last month for "The Bank Tracker." The article provides a pretty good (albeit brief) overview of what needs to be considered. You can read the article at http://www.mybanktracker.com/news/2014/02/13/foreigners-buying-real-estate/.

 

[tranquility]

Another guide is at:
http://www.zillow.com/intl/en/foreign-buyers-guide/

But the point is learning U.S. law. Buying property for a foreign national is pretty much like buying property as a U.S. citizen. The particular reasons will affect taxes, immigration and the like, but not the mere purchase of the property.