Buying property abroad

[Anonymous]

I’ve been both the banker and borrower. Really, this largely depends upon your relationship with your bank. Do you use a big bank and their brokerage and have a current creditor relationship? Longevity of relationship? It is also easier if the US bank has a branch in that country. BAML, JP Morgan and Citi are probably your best bets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why would you do that?

Have you ever left the United States? You sound very provincial.

I actually grew up outside of US

[Anonymous]

My home-country gave me a loan. Still paying for it every month. I home to retire there.
The US is aware of my bank account there, but it only has the money I send there every month to pay the mortgage. Not a big deal. I will have to pay taxes if I sell the place and the price has gone up.
How much do you need? $50-$100k?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:"abroad" is a big place.

yeah, thanks. it's my home country but not sure how that changes anything. I would prefer to borrow money in the US and buy for cash over there.

But where? The answer ton that makes all the difference in the world.

how does it make a difference? i already abandoned the idea of borrowing locally.

it's croatia, btw.

You should’ve said that in your initial post.
Why are you eliminating borrowing locally? Have you explored that option?
I bought a property in my home country and financed it from a local bank. The bank accepted my US income and assets as documentation for the loan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:"abroad" is a big place.

yeah, thanks. it's my home country but not sure how that changes anything. I would prefer to borrow money in the US and buy for cash over there.

But where? The answer ton that makes all the difference in the world.

how does it make a difference? i already abandoned the idea of borrowing locally.

it's croatia, btw.

You should’ve said that in your initial post.
Why are you eliminating borrowing locally? Have you explored that option?
I bought a property in my home country and financed it from a local bank. The bank accepted my US income and assets as documentation for the loan.

because i prefer to borrow in dollars at a fixed rate. my impression was that interest rates in croatia are variable and higher than in the US.

[Anonymous]

Anonymous wrote:I’ve been both the banker and borrower. Really, this largely depends upon your relationship with your bank. Do you use a big bank and their brokerage and have a current creditor relationship? Longevity of relationship? It is also easier if the US bank has a branch in that country. BAML, JP Morgan and Citi are probably your best bets.

yes, a big bank, long relationship and they hold our mortgage. we also purchased some financial instruments through them. i just wanted to check whether there is some other way.

it seems that speaking to the bank is the next step. thank you.