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International Home Buyers

Five countries account for 51 percent of overseas purchases: Canada, China, India, Mexico, and the United Kingdom. Chicago’s international appeal are its universities, transportation network, diversified economy and educated workforce. International buyers like properties in the U.S. because of the political and economic stability. Mortgage financing is a hurdle because their financial profiles differ from what lenders are used to seeing for most residential applicants. As a result, about 55 percent of international buyers paid for their home in cash. Good for sellers. International buyers have very specific criteria and are selecting homes from comprehensive data and photos of the home on the internet. When selling a home, a strong internet presentation is key along with exceptional photography.

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