Congratulations to you if you finally made the decision to get a home in the US and live the American dream! The States are the land of opportunities, and since life there is so dynamic, there’re always homes for sale in America, so all you need is just to have the money and the much needed knowledge so the entire process runs smoothly. No worries, is not complicated at all. You only need to know 4 things:
The reason why you’re buying a home
You need to have a good reason as to why would you buy a home in America. Don’t get fooled; although we say it’s easy, you still need to have the money. So, are you buying it because you want to move there, you need a home for your kids while they’re studying, or you just want to invest in the reals estate market? Whatever the reason, have in mind that owning a home in America doesn’t regulate your legal stay or status. For that, you’ll need to hire an immigration lawyer.
Understanding how the market works
Even if you hire an expert to do all things for you, you still need to understand how the market works. The US real estate market has different rules, different types of purchase contracts and overall different methods of closing the deal. There are a few practices you should remember:
- there are sites you can visit and get all sort of information on real estate shared by various agents and real estate agencies. One of them is Zillow, worth the visit.
- Paying a fee to real estate agents who search homes for you, is not a practice in America. That commission is paid by the seller, so you have no obligation towards your agent regarding that question.
- Agents need a license to operate. In various countries in America the conditions on getting a license vary, depending on the level of education and experience.
Professionals
Usually people that have little to no experience in buying a home in America would hire an expert to walk them through the process. Also, people that don’t speak English well should work with a professional if they want to buy a home without difficulties.
Financing
As mentioned, if you have the money than you really can look at homes for sale in America. But if you don’t, then the process will last a little longer, but you’ll eventually get what you want. It’s the land of possibilities, remember? So, as a qualified foreign buyer, all you need to do to get financing from banks is to make an initial deposit of 30-40% . Sometimes you’ll need to present three months of bank statements of good credit history, as to gain credit points.
Looking for homes for sale in America is definitely an easy task. And today with the development of technology and the easy access to information, you can finish the entire procedure on your own in a matter of days. Still, if you feel like you don’t understand legislature or payment requirements good enough, hire a professional; it’s better to ask for help than to end up doing something you’ll pay a lot more than hiring an expert.