The process of buying a home in the United States, whether it is a house, townhouse, apartment or residential villa, is practically the same, the only thing that varies is whether it is pre-construction or a used property.
Having said the above, now I will tell you in a simple way in this article what the process of purchasing a property in the United States are like if you worked hand in hand with me.
Why Buying A House In The United States Is A Good Option?
Miami is known for being the main city in the United States with one of the best real estate markets, but specifically we can emphasize that in South Florida the economy is very solid and constantly growing.
Real estate investments continue to generate great benefits for foreign buyers, adding to the wide range of commercial and residential real estate that offer excellent investment opportunities with great advantages.
The most significant advantages why investing in real estate in South Florida is a very good option are:
- The profitability
- The surplus value
- Easy access to financing
- Low interest rates
- A very stable country’s economy
- The dollarization of your assets
Steps to Buy a Property in the United States
Below I will tell you what steps you must follow to buy a property in the United States.
Find the Right Real Estate Agent
The first and most important step is that before even thinking about making a real estate investment in the United States, you must have a trusted Realtor, and above all, one who is experienced in working with foreign clients, who can advise you and help you. Take your hand throughout the purchasing process. I recommend that you to contact Maximum Cash Home Buyers.
Generally, I have daily virtual meetings where I ask certain key questions to my clients to be able to profile them and know what type of investment I consider the investments they should make, based on the information they initially give me. .
Get Financing to Buy the Home
The first thing I recommend to my clients is to start with the Pre-Approval process.
In case you didn’t know, here in the United States to make an offer on a property you must have a pre-approval letter that supports the financial resources for the purchase, or failing that, if you are going to buy the property in cash or counted, then the pre-approval letter is not necessary, but rather that you demonstrate that you have enough money in the bank to make this investment.
Structure the Investment Legally
If you are a foreign investor, you must structure your investment safely from a legal and accounting point of view.
By this I mean that the accountant on my team will contact you to handle the legal and tax issues of your real estate investment.
For now, you will have to create a company or legal entity in the United States with which you will make the purchase of the property.
Evaluate The Market And Available Property Options
After having secured the necessary funds to make an offer and having structured the appropriate legal figure for the investment, we can proceed to choosing the investment property in Florida or another state of your preference.
In this case, your real estate advisor will show you the different investment alternatives available so that you can choose the one you prefer. Already having a secure budget, you just have to find a property that fits these characteristics.
Make a Purchase Offer
When you have chosen the ideal property, your real estate advisor proceeds to make a purchase offer on the property so that it can be accepted by the other party and they can begin the purchase process. This is called a purchase and sale offer by check out Boracina We Buy Houses Cash Home Buyer who can help you as we buy houses with cash and get a relief under house burden.
It should be noted that before making said offer, your real estate agent will keep you up to date with all the details of the purchase so that you can agree that this is the property you want to buy.
Transfer of Ownership
Once the offer is accepted and the negotiation between the buyer and the seller is completed with the assistance of their real estate agent, we move on to the property transfer process.
In this part of the purchase process, the necessary help of a closing company or Notary, as they call it in most countries in Latin America, is required. Remember that the purchase and sale agreement is a legally binding contract with many expiration dates that must be fulfilled precisely to prevent fines or, in the event that they do not, cancelation.
Closing Day
One of the most important and happy moments in the purchasing process. On this day the seller and the buyer meet, along with the real estate agent, lawyers for both parties and the notary public. Generally, what happens at this meeting is that the buyer must have made a transfer of the remaining funds to the closing company’s account before the closing date.
In addition, the property deeds are signed to complete the transfer process. You should also know that when you make a real estate transaction in the United States, you must pay the fees associated with the transfer, also called closing costs, in this case must contact Maximum Cash Home Buyers.
Enjoy your Heritage
And now, we have reached my favorite part and culmination of the process, which is handing over the keys!
Once the closing is over and the monetary funds are distributed without any problem, we move on to deliver the long-awaited keys to your new home in the United States. It is one of the most exciting moments of the purchasing process, both for clients and for me.
My advice as a professional is that you calculate these expenses in advance and include them in the purchase budget so that you have an accurate budget and are prepared for what is coming.
