Offer making process for an oversea investor.

Mohamed,

Does he intent to borrow money from his foreign lender or pay cash? Will he have it under his own investment or LLC or Corporation?

I'm not an expert in this type of transaction, but in my opinion, in order for a bank account to be used as proof of funding, it must be in the US (for its credential and credit ability) or at least, it must be a branch of a US bank in another country. Also, the money in that account needs to show a history trail and make sure it's not a revocable/withdrawable account at all time during the transaction!

Please make sure your client understand and follow all the tax implications and withholding requirements for foreign investor in the US since they will have a US connected income. Please also make sure to team up with a Title company that could handle such transaction. You maybe able to ask your title company to see how they want the funding to be handled and for that, you may be able to find out what type of bank and account could be a qualified bank & account for this situation. Regarding tax, don't forget to advise him to run through a CPA and work in hand with that CPA.

All the best and please let me know how it goes,

Anh Jorgensen

We need to get your information, the address to the property that you are looking to buy, we will sign the representation agreement, we Wright the offer contract, we verify your funds and we send the offer to the sellers. Once your offer is accepted you will need to contact the title company for the closing and the recording process.