Good question. And, it’s a question I posed to the local real estate agents and bank representatives. Probably the best way to sum up their response would be as follows:
Does the Pope go to church on Sundays?
The question (can overseas investors buy?) seemed to be met with excitement. The agents and reps all appeared to “scooch-up” a little further in their chair and sit upright (and come awake!) after I asked the question. I gathered and pieced together all these various inputs. My end analysis of what they were telling me is this …
“If it wasn’t for overseas/non-US investors, we wouldn’t have any sales!”
Now, please take my assessment with a grain of salt; there are US investors. But, I got the feeling the majority were from other countries; non-US buyers. When I’d try to throw up an objection about living in Australia and how it may be difficult to shuffle the paperwork, I’d here things like …
“I just completed a sale with a guy in Switzerland. No problem. Just wired the money to the bank and we closed the deal via email and Fed Ex.”
AND
“We even go to courses to teach us how to streamline the sales process for non-US buyers; overseas investors. There are virtually no barriers to foreigners buying property here in the US.”
AND
We got people coming down from Canada buying everything they can get their hands on. We don’t have any problem dealing from long distance. I don’t see why Australia would be any different. You got a mail system over there – right? You got email – right?
As you can see they were starting to have “a go” at me!
Am I saying you should buy in this market? Not necessarily.
I’m just letting you know you can.
Keep the questions and comments coming. I’ll try to respond as best I can; get the answers and/or find someone who knows.
Go forth and make good things happen!
Signing off for now in West Central Florida!