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You should be able to wire funds directly to the title/escrow company for closing who'll hold it in their trust account - the same should be true for earnest money. But that doesn't mean they still don't have obligations to report wire transfers etc.
Overall, that'd be the least of your worries and troubles. The practicality is that you will now have to deal with visa issues and tax consequences etc. Just because you own property here doesn't automatically mean you are able to stay - using the VWP only allows something like no more than 90 days in the US and you probably can't just keep reissue or renew one. Upon selling the condo, you'd be subject to cap gains, state tax and 10% withholdings etc for being a foreign national. If you want to create a biz and apply for something like the E-2 visa then you have to invest a min of 250k in the US.
Look into your situation very carefully.
this is above my head but i will read it a few more times. I have dual citizenship via a marriage ended in divorce but i got my citizenship and he got his citizenship in my country.
I just don't like banks in general in any country. you know what i mean. just fraud and fees. I think they steal so much for the hard earners and paint the pockets for the executives that run the banks. This way I put it in the vault and buy everything in cash. same with my car in america i forked over 100 bills at the Porsche dealership and now one complained but maybe the cars are different than the condos and homes .
Location: Florida
Objective: Buy a house in the United States with cash
Consequences: Fed are going seize everything you try to buy with cash in The US and throw your A$$ in Jail
Euro= 1.32 dollars( i think)
Why don't you want to transfer you money to a US Bank?
agree this is going to be the only way to pay from what i gather on here. I will call my bank tomorrow Europe is closed now .
I read how so many people buy homes and condos from other countries lot of them are oriental and middle eastern sure there is a way they do it with out legal issues.
Yes i was talking to you O.P.!
You're on a message board asking how to buy a condo cash
Don't you know the IRS/Feds are probably reading this.
If want to know the answer,either call up a real estate agent or talk to your bank branch in Europe.
Almost every ideal mentioned in this thread is illegal,except for a wire transfer from your bank in Europe or a cashiers check from your Bank!
I have done several transactions that involved international wire transfers. While the funds can move in a fraction of a second, the communication amongst all parties ( sending bank/ central bank/federal reserve/local reserve/recipient bank/title company) involved can become time consuming.
Specify upfront, within the contract, your intent to close via an international wire and prepare to prefund the transaction.
Be aware that many condo associations will reqwuire that you have a local banking relationship of some sort.
Since you are looking to buy a condo, how do you plan on paying your insurance, assessment, property taxes and utilities?
Yes i was talking to you O.P.!
You're on a message board asking how to buy a condo cash
Don't you know the IRS/Feds are probably reading this.
If want to know the answer,either call up a real estate agent or talk to your bank branch in Europe.
Almost every ideal mentioned in this thread is illegal,except for a wire transfer from your bank in Europe or a cashiers check from your Bank!
oohhhh okay because you mentioned florida and a house so i was not sure who you were addressing.
I have done several transactions that involved international wire transfers. While the funds can move in a fraction of a second, the communication amongst all parties ( sending bank/ central bank/federal reserve/local reserve/recipient bank/title company) involved can become time consuming.
Specify upfront, within the contract, your intent to close via an international wire and prepare to prefund the transaction.
Be aware that many condo associations will reqwuire that you have a local banking relationship of some sort.
Since you are looking to buy a condo, how do you plan on paying your insurance, assessment, property taxes and utilities?
i would pay everything in cash/credit card . i don't know what a assesment is??
I rent a apt in the states and rent it out when I am not there . I always pay cash money order or credit card for all my utills i have a pre owned Porsche 911 i bought in cash and pay liberty mutual insurance for apt and car via credit card.
Condos assess all owners for their prorata share of operating expenses and if well managed, for a reserve to repiar, renovate and replace common elements. The assessment may or may not include some, not all utilities.
A special assessment typically occurs when the association's reserves are not adequate to cover the expense of a major repair, renovation or replacement. This is sadly rather common in associations that focus on cheap monthly assessments instead of putting money aside for the inevitable because everything wears out sooner or later.
It is imperative that you understand the status of unpaid assessments on any unit you consider buying and the overall financial state of the association, before you buy. Laws vary, state to state and you need to know if you are responsible for any prior unpaid assessments or special assessments.
i would pay everything in cash/credit card . i don't know what a assesment is??
I rent a apt in the states and rent it out when I am not there . I always pay cash money order or credit card for all my utills i have a pre owned Porsche 911 i bought in cash and pay liberty mutual insurance for apt and car via credit card.
Just curious how do you pay your credit card bill?
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