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Buying in the states- how do I do it?
MiniMiser_2
Posts: 6 Forumite
Hello,
Like just about everyone else I've seen the news on the foreclosures in the states and thought about all the potential bargains to be had but I have no clear about how property buying in the states works, especially for a non-resident!
Am I able to buy as a non-resident? Do I get a mortgage in the UK or would it have to be in America? Will I need/ should I get protection against being sued for just about anything (and how much would that cost)? Do I get taxed over there or over here (or even worse, both!)?
Basicallly would love to know how to buy in the states, what are the hidden pitfalls and what would the costs and liabilities be.
Would appreciate any guidance, even if it's just a link to a different website!
Alex
Like just about everyone else I've seen the news on the foreclosures in the states and thought about all the potential bargains to be had but I have no clear about how property buying in the states works, especially for a non-resident!
Am I able to buy as a non-resident? Do I get a mortgage in the UK or would it have to be in America? Will I need/ should I get protection against being sued for just about anything (and how much would that cost)? Do I get taxed over there or over here (or even worse, both!)?
Basicallly would love to know how to buy in the states, what are the hidden pitfalls and what would the costs and liabilities be.
Would appreciate any guidance, even if it's just a link to a different website!
Alex
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