How easy would it be for me to purchase a home in another country?

Question

I'm American. Would it involve the same process of me getting together a down payment and obtaining a mortgage?

Answer 1

Yes, in most cases.

However, each country has their own rules and regulations for international buyers.

For example, in Thailand, international buyers can only buy a home in a Thai spouses name or in a company name. You couldn't just go over and buy and home in your name.

But you could buy a home in France, just as you would here in the United States. Though still, you'd only be able to use certain international banks - like Barclay's - to obtain your mortgage. And the credit guidelines can be even more stringent.

Escape Artist ( http://www.escapeartist.com ) has a lot of good articles on international real estate. They also have several manuals that talk about buying homes in other countries.

Hope that helps.