How to Buy Property in New York from Abroad

A step-by-step guide to cross-border property acquisition
By CasaMajors

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Buying property in New York from abroad can be one of the smartest investments you make — but it requires the right knowledge, professional guidance, and a clear process. Whether you’re seeking a personal residence, a vacation home, or a profitable rental, understanding how to navigate U.S. real estate laws and market dynamics is essential.

At CasaMajors, we specialize in helping foreign nationals confidently acquire, manage, and hold real estate in New York. Below is a detailed guide to make your property purchase smooth and secure.

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1. Understand What You Can Buy as a Foreigner

The United States imposes no major restrictions on foreign property ownership. You can buy single-family homes, condos, commercial spaces, or even invest in multifamily buildings. However, you should understand the implications of taxes, financing, and property management before making a move.

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2. Determine Your Investment Goals

Ask yourself:

• Are you buying for personal use or investment?
• Do you plan to rent out the property?
• How long do you intend to hold it?

Your answers will shape your strategy — from neighborhood choice to financing structure. For instance, investors may focus on areas like Brooklyn, Queens, or the Bronx for rental yield, while buyers seeking luxury residences may prefer Manhattan or Long Island.

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3. Engage a Licensed Real Estate Broker and Attorney

Cross-border purchases demand expert guidance.
At CasaMajors, our licensed brokers help you:

• Identify verified listings that meet your criteria
• Negotiate offers in line with market value
• Coordinate property inspections and closing processes

Meanwhile, your real estate attorney ensures your interests are protected — reviewing contracts, handling escrow, and verifying title status.

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4. Secure Financing (If Needed)

Foreign buyers can access U.S. mortgages, though lenders typically require:

• A 30–40% down payment
• Proof of income or assets
• An international credit report or bank reference

Alternatively, many investors choose cash purchases to simplify the process and strengthen their negotiation position. CasaMajors partners with reputable lenders familiar with international clients.

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5. Conduct Due Diligence

Before signing, ensure the property passes:

• Home inspection – to identify structural or maintenance issues
• Title search – to verify legal ownership and check for liens
• Appraisal – to confirm fair market value

Our team handles these verifications to ensure transparency and prevent surprises after purchase.

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6. Understand Tax Obligations

Foreign buyers must be aware of U.S. tax rules:

• FIRPTA (Foreign Investment in Real Property Tax Act) – Withholds a portion of proceeds when selling U.S. property.
• Property tax – Paid annually to local authorities.
• Income tax – If you earn rental income from your property.

We work with tax professionals who specialize in international investors to help structure your purchase for efficiency and compliance.

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7. Close the Deal

Once financing and documentation are in order:

• Funds are transferred to escrow.
• Closing documents are signed (in person or remotely).
• Ownership is recorded at the county clerk’s office.

Congratulations — you now own a piece of New York!

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8. Manage and Protect Your Investment

Post-purchase, CasaMajors can support you through:

• Property management (for rentals and maintenance)
• Legal compliance (annual filings and local permits)
• Resale or portfolio expansion strategies

Our end-to-end service ensures your investment continues to grow while you stay anywhere in the world.

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Final Thoughts

Buying property in New York from abroad isn’t complicated — it’s a matter of working with the right professionals who understand both the local market and international investor needs.

At CasaMajors, we combine real estate expertise, legal insight, and personalized guidance to make your cross-border acquisition seamless and secure.

Ready to invest in New York real estate?
Visit www.casamajors.com or contact our team to get started today.

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CasaMajors — Your Trusted Partner in Global Real Estate Investment.