International Transaction
International real estate transactions as defined by NAR includes selling a home in your local market to an immigrant, leasing a commercial property to a foreign investor, assisting your local clients with the purchase of a (second) home in another country, closing a transnational referral transaction, having a transaction that contains an international client, funds, property, translation, etc.
Who Are International Clients?
The term “international client” refers to two types of clients: Non-Resident Foreigners (Type A): Foreign clients with permanent residences outside the U.S. These clients typically purchase property as an investment, or for vacations or visits of less than six months to the U.S. Resident Foreigners (Type B): Clients who are recent immigrants (in the country less than two years) or temporary visa holders residing for more than six months in the U.S. for professional, educational or other reasons.
“Foreign clients are an upscale group of buyers. During 2014/15 the average price paid by foreign clients for a house was $499,600, compared to the overall U.S. average house price of about $255,600. Although fluctuating from year to year, the average price paid by foreigners has increased.”
Source: National Association of REALTORS®
