Why Homes and Condos in Philadelphia Could Have More Foreign Owners

Foreign buyers, though, should expect additional requirements aside from the typical ones. For instance, some banks may require at least $100,000 on a bank account or impose loan limits. Some lenders may also require the buyer’s passport and copies of his visa. Federal law also requires transactions of over $10,000 be duly reported for transparency. While there may be several extra steps for foreigners interested in buying Philadelphia luxury condos, realtors like Joanne Davidow are sure to treat foreign buyers fairly.

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