Karla Arjona is a Realtor associate with Coldwell Banker United, Realtors working in Houston.
Every week, we ask a real estate professional for their Short List, a collection of tips and recommendations on an essential topic in real estate. This week, we spoke with Karla Arjona, a Realtor associate with Coldwell Banker United, Realtors, who shared her tips for working with international buyers.
9. International buyers need a lot of time and dedication as they are NEW to the country, area, culture, food, construction, etc. Everything is different and they need guidance and patience to take it all in.
8. Provide as much information as you can about different areas of town that could be a match for them depending on their needs; and make sure they spend time in their preferred areas before they purchase.
7. Make sure to explain to your prospect how real estate works in the U.S., as in most countries exclusivity and or buyers representation by only one agent is not the norm.
6. Ask your prospect/client how they will be paying for the property. We have a few lenders that offer products for international buyers that have no credit history in the USA. Make sure to have the loan part taken care off before you go looking at homes. Depending on the situation underwriting for this type of borrower can take a few weeks longer that a regular loan.
5. If your clients have school age children, try to explain how public school zoning works as Its probably very different where they’re coming from.
4. Be knowledgeable about private schools as many international buyers choose that option for their children.
3. Inform yourself about the IRS retention at closing. When they sell the house if the foreign national status is still there, some of the proceeds will be retained. Buyers need to be aware of this before they buy.
2. Provide your client with all pertinent information on the property (utilities, mail, police, emergency services, etc.).
1. Explain Real Estate taxes and how they work in the US. This will probably be different from their home country.
Karla Arjona, a 7 year real estate veteran, is a Realtor associate with Coldwell Banker United, Realtors, who specializes in first-time buyers, investors and relocations, both domestic and international.