All foreigners can invest in real estate and trade any kind of property in the U.S. if they comply with U.S. regulations. U.S. real estate investment is one of the safest investments that is involved with the lowest risk around the world. Moreover, there are no additional tax regulations exist for foreigners and non-US residents who invest in U.S. real estate.
The following steps show the procedures for foreigners to buy a property in the U.S.
1-Investment Plan: Find your investment plan for buying real estate. There are the following options for investment in real estate in the U.S.
1-1-Buy a piece of land and built your residential/commercial property as you wish
1-2-Buy residential/commercial properties that are move-in ready.
1-3-Buy residential/commercial properties that need improvement and development
2-Budget: We have different states and locations in the U.S. and depending on your budget we will be able to help you to go over your feasible options.
3-Experienced Real Estate Agent: You need to have a real estate agent to help you to find the right property and process the legal documents and money transfer who already have good experience with local/international transactions.
4-Finalize your options: You will narrow your available options and talk with your local advisor to rank your properties and start preparing your documents to submit an offer.
5-Make an offer: You need to submit your offer along with other documents; you will be able to sign the documents online.
6-Purchase Agreement: Once your offer has been accepted, you have a valid contract with the seller.
7-Initial Deposit: It is common to make an initial deposit (earnest money) which is a small portion of your purchasing price via a legal entity (Escrow Company) in the U.S. to show your intention for buying the property. This deposit will be refunded if you will decide to cancel your contract at any stage.
8-Due Diligence: You need to do your research before finalizing the deal with the seller. The following steps are recommended:
8-1-Property Inspection to see if the property needs any repairs,
8-2-Title report to check the legal status of the property,
8-3-All the due diligence reports will be prepared by U.S.-authorized companies.
9-Final payment: You will receive the final statement. Then, you will transfer the money and all the documents will be publicly recorded. Congratulations!
10-Manage your property: You will be the new owner, so you will make your decision about your plan for the new property. You may consider using your property for short-term rental property, long-term rental property, vacation property, and vacant property.
Realticx group will be with you in all the stages and help you to find, buy, manage, and sell your property in the U.S. Please Contact Us. Our Experts will communicate with you in the shortest possible time. Meanwhile, for more information, please watch the video explaining our work process.