21,291
Hi Dorie:
I don't know if the percentage is that high, but I can tell you that a large percentage of international buyers do seem to be "all cash" purchases here in California. Perhaps the availability of financing has something to do with it, but at least three of my buyers who were coming to this country from other parts of the world were using money that was purposely set aside by family members to purchase homes in California.
Again, I can only speak from my personal experience, but my international buyers absolutely purchased with cash only.
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Grace Hanamoto
Sunnyvale, CA
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Fred Griffin Florida R...
Tallahassee, FL
1,239,901
Only high end since they do not have US credit hisotry. Neither it makes tax sense.......
These international buyers can be those with other residences overseas. They may have US citizenship or green cards.
Is Tiger Woods not international ? He lives in Dubai most of the time.
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Fred Griffin Florida R...
Tallahassee, FL
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Grace Hanamoto
Sunnyvale, CA
989,652
Not sure of the numbers as I've never tracked that stat
-
Jessie Cochran
Panama City, FL
5,005,614
It is true that 55% of International buyers pay for a home in cash! They don't want to go through the process of obtaining a mortgage. I just went through this with an international buyer and this time he didn''t want to pay cash so went through the process of obtaining a mortgage.. it got done but was fraught with conditions!
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Nina Hollander, Broker
Charlotte, NC
3,727,873
Where is Conrad Allen when you need him?
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Nina Hollander, Broker
Charlotte, NC
1,771,867
I have had international buyers pay cash and then rent out the property. I do not know about the percentages.
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Nina Hollander, Broker
Charlotte, NC
6,393,154
Makes sense, I would have thought the number to be a bit higher though.
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Nina Hollander, Broker
Charlotte, NC
2,220,323
I would have to research and find out Dorie Dillard
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Anthony Acosta - ALLAT...
Atlanta, GA
1,452,819
Practically all of mine do and that includes my US buyers
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Susan Emo
Kingston, ON
2,781,163
I can only speak of the ones I know of which is not often. Borrowed money dominates to be sure
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Fred Griffin Florida R...
Tallahassee, FL
4,800,082
1,502,998
5,583,278
4,572,117
5,216,398
5,104,931
It wouldn't surprise me, as many foreigners without tax returns and credit in the USA can't qualify for a mortgage.
823,579
Yes, or even higher percentage. Most countries don't have mortgage loans, or they are outrageously expensive so they are used to paying cash or a sizable down payment.
3,416,038
3,071,489
171,073
I think Grace Morioka has the most correct answer. International buyers most likely assume that financing in another country where they have no credit history will be a problem. My wife and I bought a vacation home in Chile in 2005 and didn't even consider financing it at a Chilean bank.
4,319,419
Dorie Dillard no such stats available - to best of my knowledge this seems true.
1,622,432
3,164,269
3,988,007
The ones I have dealt with had nice size downpayments but finance part of the sales price.
2,707,721
I don't know, but I wouldn't be surprised if it is that or even higher!
2,362,942
Most of my interenational buyers have paid cash so you are probably onto something.
5,772,575
2,443,250
321,564
3,986,258
1,525,616
2,178,553
763,883
Stastics don't lie but I've had about 100 international buyers and maybe 1 or 2 of them were all cash, probably not though.
2,810,149
Hi Dorie - I think we have only had a couple over the years who have arranged financing - all the rest have been cash.
1,725,996
I have seen this and perhaps even higher. Just had a Canadian buyer jilted by a Canadian bank in purchasing a villa here in Englewood. It is no wonder!
225,526
1,157,785
1,683,912
1,712,676
That or probably a greater percentage becasue of the inability for many to obtain loans. it has been thatw ay since 2006.
2,684,009
That is probably a correct figure for Miami (or it was; that market is stalling). It's also true for Sarasota County, Florida where prices are going through the roof because of the cash Buyers.