This form provides a buyer with an exclusive and irrevocable option to purchase residential real estate, specifically a commercial building.
Guam Option For the Sale and Purchase of Real Estate - Commercial Building
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How to fill out Option For The Sale And Purchase Of Real Estate - Commercial Building?
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There are no restrictions on foreign ownership of property. However, foreigners are only allowed to buy one (1) owner-occupied house or condominium in their personal names on Guam if they are not U.S citizens and have not declared their intent to become permanent residents (green card applicants).
Four countries in which there are extra layers of difficulty for non-citizens who attempt to purchase real estate are Vietnam, Mexico, Greece, and Thailand.
Commercial properties are usually purchased with the intent to generate income or set up commercial space. Commercial property includes office buildings, industrial property, medical center, retail stores, hotels, hostels, schools, warehouses, etc.
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On Guam, pretty much anyone who has the means to buy land can do so, including foreigners who are permanent U.S. residents, Americans both naturalized or born U.S. citizens, and foreign investors.
Non-US citizens can buy property since there is no citizenship requirement for real estate sales. In fact, foreigners can even qualify for a mortgage if they meet certain requirements. However, foreign property owners do face a more challenging tax situation than US citizens.
Average income-earners can find housing unaffordable Five years ago, in 2017, the median price of a detached Guam house was $240,000. In 2013, it was $200,000.
Several countries give residency to the buyer if the value of the property is more than a threshold. These include Cyprus, Hungary, Portugal, Ireland, Malaysia, Bahamas and the UAE. In October 2012, the Portuguese government passed a law to offer 'Golden Passport' to attract investments.
On Guam, pretty much anyone who has the means to buy land can do so, including foreigners who are permanent U.S. residents, Americans both naturalized or born U.S. citizens, and foreign investors.