Hi,I wonder if any CPA can help shed some light on this situation:If a green card holder with foreign assets want to buy a home in the US, what are the tax implications if he/she transfers money state side for a down payment on the house?

They may not come close to being similar to what you are considering once you thoroughly investigate the property and the target market.As for what type of contract, you should consult with a Texas attorney to make sure all the legal requirements are addressed and your interests are fully protected.The current $65,000 lien holder may not want you to assume the loan, especially if the interest rate is less than current or predicted market rates.

The owner has a mortgage on the property and will need the mortgage holder to release the property and let the owner sell it.

Then, any buyer will be obligated to sell if the option holder desires to buy at that originally agreed price.

I reckon Solomon includes RENTERS in Proverbs 22:7, rather than just mortgage holders!

(US Green Card Holder)So far I’ve been highly impressed with you all on here and the quality of information that you’ve all been willing to share.I’m still trying to find my way around the whole US Real Estate game and have not decided specifically in what area I’m interested yet but possibly commercial.

As long as you don't own the note, nobody can tell you that you can't knock on the door and ask to speak to someone.You're not the landlord and you're not the mortgage holder so what law could you possibly be breaking?

Apart from taxes and the previous lien holders

The only job of the Trustee is to get the best price for their client who is the Lien holder foreclosing on the property and then subsequently complete the transaction by collecting funds and filing the foreclosure deedThe Trustee has zero responsibility to make sure bidders aren't colluding(other than verifying funds) or ensuring the title is clear 

If you can pull off a seller financed deal, remember to structure your note with the intention to be negotiating at least one more time later, perhaps when the seller/note holder wants to tap the money well (or his heirs).