Buying in New Jersey or New York from abroad.

Can a foreign national buy a home in New Jersey or New York?

Yes. U.S. law generally does not require citizenship or residency to own a home, and tens of thousands of foreign buyers purchase U.S. homes every year: the National Association of REALTORS® counted 67,100 homes bought by foreign buyers from April 2025 to March 2026.

Two cautions. Buying a home does not by itself give you a visa or the right to live in the U.S., so ask an immigration attorney about your status. And a few states limit certain land purchases by foreign owners, so your real estate attorney should confirm there is no restriction on the specific property.

Financing as a foreign national

Many overseas buyers pay cash (NAR reports 48% of foreign buyers paid all cash in the same period). If you want a loan, some lenders offer foreign-national loans, and some offer DSCR loans for investment property. A DSCR loan is approved mainly on whether the property's rent covers the loan payments, rather than on your personal income.

• Larger down payments than a standard U.S. mortgage are typical.
• Expect more paperwork: passport, proof of funds, bank statements and, for investment loans, a lease or rent estimate.
• Terms differ a lot from lender to lender, so compare more than one. We do not quote rates; we connect you with lenders who work with foreign buyers.

FIRPTA: what happens when a foreign owner later sells

When a foreign person sells U.S. real estate, the buyer generally must withhold 15% of the total amount realized (usually the sale price, not the profit) and send it to the IRS. This is called FIRPTA withholding. It is a deposit toward your U.S. tax, and you may get some back when you file a U.S. tax return.

There are exceptions. If the buyer is an individual who will use the home as a residence, withholding is generally 10% when the price is above $300,000 and up to $1,000,000, and none when the price is $300,000 or less. You can also apply to the IRS for a withholding certificate that lowers the amount withheld. Ask a U.S. CPA to plan this before you sell.

Buying and closing from abroad

Many of our clients buy without flying in. A typical remote purchase works like this:

• Video tours by Zoom, WeChat, with the listing details and our notes on each home.
• Offer and contract signed electronically. In New Jersey, your attorney then reviews the contract during a 3-business-day attorney review period.
• Closing documents: your attorney and the title company tell you whether you can sign before a notary where you live, through an online notary, or through someone you authorize under a power of attorney. Whether a power of attorney or a remote notary is accepted depends on the document, the lender and the title company, so confirm before you rely on it.
• Documents notarized abroad may need an apostille. China's membership in the Hague Apostille Convention took effect with the U.S. on November 7, 2023. U.S. embassies and consulates offer notarial services by in-person appointment only.
• Wire safety: criminals send fake wiring instructions that look like they come from your attorney or title company. Before you send money, call the office on a phone number you already know, never one from the email, and confirm the account details. Report fraud to the FBI at ic3.gov.

Owning in an LLC or trust, and tax and estate questions

Some buyers hold a property in an LLC or a trust. The right choice depends on your home country, your tax position, your lender and your family plans, and it is hard to change after closing. U.S. estate tax can also apply to a non-U.S. person who owns U.S. real estate.

We are real estate brokers, not tax or legal advisors. Before you buy, talk to a U.S. CPA and a real estate or estate-planning attorney, and we are glad to introduce you to professionals who work with overseas owners.

Moving money into the U.S.

Banks and title companies may ask where your funds came from. Keep recent bank statements, records of the sale of a property or business, income records, and a signed gift letter if family is helping.

• International wires can take several days, so start early and send the deposit and closing funds on the schedule your attorney gives you.
• Your home country may limit how much you can send abroad each year. Check the rules with your bank or your local regulator before you plan the purchase.
• Ask your bank about wire fees and exchange rates.

NJ and NY: property tax and transfer costs, at a high level

These are general descriptions, not a quote. Your attorney will calculate the exact figures for your purchase.

• Property tax, New Jersey: the bill is set by your town, county and school district, so the same price can carry very different taxes in different towns. See our NJ property tax rates page.
• Property tax, New York City: the NYC Department of Finance sets the bill using the property's class, so one- to three-family homes and co-ops/condos are taxed under different rules.
• New Jersey transfer costs: the seller pays the Realty Transfer Fee. For sales above $1,000,000 the seller also pays a Graduated Percent Fee of 1% to 3.5% of the price, depending on the price band (since July 10, 2025).
• New York transfer costs: the seller pays the state transfer tax of $2 per $500 and, in New York City, the city transfer tax (1% up to $500,000, 1.425% above). The buyer pays an additional 1% "mansion tax" on residences of $1,000,000 or more, and higher-priced New York City sales carry additional state taxes.

Renting the property out

If you will not live in the home, we offer property management in New Jersey: tenant search, lease, rent collection and repairs, with updates by WeChat. See our property management and investing pages.

Rental income from a U.S. property is taxable in the U.S., and rules for non-resident owners differ from those for residents, so ask your CPA. If you hold a U.S. visa, ask an immigration attorney before you manage a rental yourself.

Schools for your children

New Jersey public schools are run by local school districts, usually organized by town, so the school your child attends depends on the address you buy. We compare districts by programs, commute, taxes and price, and we do not recommend towns based on who lives there.