Information for International Buyers

Simon says: "When considering an agent to work with, it is imperative that they have experience in facilitating real estate transactions for international buyers.

I am an agent with Coldwell Banker Previews International and I am a member of the prestigious International President's Elite group. This means that I have professionally performed in the top 3% of my company worldwide. Coldwell Banker has more offices and more agents internationally than any other real estate firm.

My strong network of mortgage professionals, attorneys, escrow and title officers who know what it takes to close a deal with non U.S. Citizens, foreign currencies and out of country banks, will be an invaluable resource for you.

My office is equipped with international calling. If you ever need to speak with me all you need to do is call me 001-310-749-8686 (this is my mobile number which forwards to my office if I don't pick-up) or schedule a time for me to call you. I carry a Blackberry with me everywhere I go, so e-mail ssalloom@gmail.com communication is efficient and timely."

How to buy Real Estate in California & United States of America

About U.S. Real Estate

Every country has it's own real estate sales process. Here in America a buyer will find one real estate agent they want to work with. That agent will act for them with full fiduciary responsibility, putting their best interests first and foremost above all others.

In Los Angeles and Santa Monica Real Estate, all real estate agents from different companies share the properties they have for sale. So, if you decide to work with an agent at Coldwell Banker, they will show you properties listed for sale with all the other borkerages in Los Angeles.

In the United States our land use law provides for fee simple real estate ownership. It is the purest form of property ownership. In some other countries, the government owns the land and the "owners" own a leasehold interest."

Things You'll Need

Once you have found an accomplished local real estate agent to help you find the ideal property you will need a few more things. One is a verification of funds demonstrating that you have enough money in the bank to consumate a purchase. This should be from your bank and preferably in U.S. dollars, although euros and pounds are fairly familiar to Americans. You will also need a check in the amount of 3% of the properties' purchase price. This is called "earnest money" and is customary in all real estate sales in Santa Monica and Los Angeles. If you will be financing this purchase with a mortgage you will also need a pre-approval letter which you can get from Nader Chahine at Chase bank. His information is below.

About Financing a Purchase in the United States

Borrowers that are US residents qualify for traditional financing.  In many cases borrowers that have a work visa with 2+ years and have jobs in the US with established credit and a FICO score can be eligible for traditional financing.  Traditional financing is generally less expensive than international financing.

Borrowers who do not have residency or a visa and do not have established credit in the US may also be eligible for the international borrower program.

The international buyer program typically allows borrowers to qualify without US credit or a social security number. The financing is available with a minimum of 25% down payment and loan amounts up to $1.5M.  Chase accepts income & asset documentation for salaried International borrowers and offers reduced documentation programs for self employed international borrowers.  Chase also will accept credit letters to demonstrate credit established outside of the US.

This program is an opportunity for International borrowers to secure financing on residential mortgages in the US.  Please feel free to call 001-310-372-8800 or email Nader.Chahine@chase.com Nader Chahine to apply for a mortgage and secure loan commitment from the bank. You can also contact him to simply get answers to your questions without pressure and without any commitment.

To learn the appropriate telephone codes to make a call outside of your country to the United States Click here!

Call Simon:(310) 749-8686
e-mail Simon: ssalloom@gmail.com