Homesgofast.com work with hundreds of Zillow real estate agents who promote both US and International properties to overseas buyers, investors and tenants.
It's a fact that the huge power of Zillow.com is only available to US and USA territories located property listings. Realtors with international listings cannot list international property on Zillow. What's more Zillow does not concentrate on helping real estate agents promote to international audience.
Homesgofast promote international real estate listings in over 50+ countries and has been working successfully with US real estate professionals since 2004!
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Promoting US property to foreign buyers
Zillow Realtors who want to sell US property to international buyers need to adopt a slightly different approach than when they market homes to local audience.
Nick Marr founder of Homesgofast.com
" Foreign buyers warm to Realtors that are prepared to offer help in every aspect of the sale, it's important to establish the reason for the purchase, the currency that they will be buying in and provide explanations of property running cost, fees and the legal process. Identifying suitable school for a buyer and pointing out communication links will all help clinch a sale. Holding the hand thru the purchase or rental will help make a successful transaction.
Homesgofast advertise both US and foreign listings to international buyers
It makes sense that the wider your audience the more likely you are to attract a buyer, tenant or investor. Realtors that have listings that are of high value, luxury real estate, close to airports and major communications or real estate that makes a great investment should consider overseas buyers. Increasingly US real estate for example is being bought by foreign buyers from China, Russia Europe and Middle East.
Holiday homes that make an ideal second home abroad or vacation rental in US cities and states such as Florida have always been attractive to international buyers searching for property in the US.
Can anyone buy real estate in the US?
The United States treats sales of real estate to foreigners almost the same as sales to citizens. The only limitations are usually imposed by homeowners associations, condominium associations, cooperatives, or other forms of community associations. A community association is an organization, often incorporated as a legal entity, that is charged with managing real property situated in a particular building or neighborhood. Most associations are mandatory, meaning that simply by purchasing a lot or unit within one of these communities, one is agreeing to be a member of the association and to obey all of its rules.
Mortgages for overseas buyers in the USA
Even if you are not a U.S. resident, you can take out a mortgage (borrow to buy a property) in the country. Mortgage lenders in the U.S. will give loans of up to 50% of the sales price to an international client. Some basic requirements might apply, such as having an existing account with deposits of about $100,000 or more in a private bank with operations in the U.S. Banks also often require meeting applicants in person “to get a sense of them, Be aware there may be taxes associated. In New York, the mortgage tax is generally 2.8% of the loan. This means that if you obtain a $1 million mortgage, you are subject to $28,000 in taxes.>
Buying US property as an overseas buyer advice
In the United States, real estate listing information is shared by agents using multiple listing services (MLS) buyers can access that same information using real estate sites such as Zillow. In some countries, it is typical to pay a fee to the agents who are scouting properties on your behalf and showing you around. In the United States, the sales commission is paid by the seller, so buyers don't pay anything to have an agent work on their behalf.
US Realtors operate differently to other countries
In the United States, real estate agents need licenses to operate. The licensing laws of each state differ regarding how much education is required, the type and depth of licensing examinations, and whether continuing education courses are required once an agent becomes licensed. The licensing system was designed to ensure real estate agents are qualified to guide consumers through the maze of finding, evaluating and financing real estate. Many other countries like the UK, Costa Rica, Mexico, El Salvador and Belize do not require real estate agents to be licensed. More advice at Zillow Foreign Buyers Guide
The easiest way to know that you are dealing with a Licensed Professional is to look for a Realtor. A Realtor is a licensed Real Estate Agent that has joined the National Association of Realtors (NAR), an organisation which regulates their behavior and sets ethical standards.
Help with Foreign Currency Exchange
Transacting internationally can mean huge financial risks for those buying or renting a home. A fluctuation on exchange rates could cost thousands and unlike domestic purchases the buyer needs to prepare for the transaction. Often local banks are not the best places to conduct money transfers, foreign currecy specialists can help plan and fix the best foreign exchange rates.They are used to helping consumers with large transaction's or where an individual has to reular pay bills for example in another currency.
Giving advice to international vendors
Zillow agents thinking about selling their services to an international vendor and buyer should always advise that the individual seeks independent advice. Its sounds obvious to write but independent advice is always going to be the best sort of advice. Foreign will no doubt be confused by agents commission, taxation and currency transactions, it be a selling point that you are prepared to recommend that they seek independent advice.
Top tips for buying a property abroad
Research and follow local laws on buying and renting out property always get written confirmation of what has been agreed in any negotiations and always insist on a paper (preferably not electronic) receipt for monies paid check that the seller or property developer owns the title deeds to the property or land and can transfer them to you. If buying brand new, or partially built, from a developer, check that the title deeds for the property in question actually exist check that the deeds to the property or land have not been offered as collateral for any loans check whether the owner has outstanding utility bills, local tax demands etc that you may be liable for on purchase of the property check that all utilities e.g. water, sewage and electricity, are connected and that you will be able to use them talk to other property owners in the area or on the development to establish if there are any issues you should be aware of before purchasing (such as floods in winter, lack of water or electricity supplies in summer) ask the developer to show you some projects that s/he has completed and talk to owners of properties on these developments to see if they have had any problems establish whether the developer has outstanding commitments to utility suppliers to bring water, sewage, electricity etc to the development
Facts about Zillow
Zillow serves the full life cycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. It starts with Zillow’s living database of more than 110 million U.S. homes – including homes for sale, homes for rent and homes not currently on the market, as well as Zestimate home values, Rent Zestimates and other home-related information. Zillow operates the most popular suite of mobile real estate apps, with more than two dozen apps across all major platforms.
Zillow Group’s portfolio
Zillow Group works with tens of thousands of real estate agents, lenders and rental professionals, helping maximize business opportunities and connect to millions of consumer
Zillow, the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help.
Trulia, a vibrant home shopping marketplace, focused on giving home buyers, sellers and renters the information they need to make better decisions about where to live.
StreetEasy, New York City’s leading local real estate marketplace, providing accurate and comprehensive for-sale and for-rent listings from hundreds of real estate brokerages throughout New York City and the major NYC metropolitan area.
HotPads, a map-based apartment and home rental search brand, and a top destination for renters in urban areas across the United States.
Naked Apartments, New York City’s largest rentals-only platform, provides innovative tools and quality listings so renters can simply and quickly find their apartment, and makes it easier for brokers and landlords to connect with renters to fill available apartments faster.
In addition, Zillow Group houses the business brands Diverse Solutions, Dotloop, Mortech and Retsly.
The company is headquartered in Seattle and trades on NASDAQ under the ticker symbols Z and ZG.
You can find Zillow social media platforms full of useful information, tips and the latest housing market trends