Procedure for purchasing real estate in the United States 2021

Buying an apartment or a house in America is the dream of many residents of Russia, Ukraine, Belarus and other countries. US real estate is considered a reliable investment. In addition, the country is popular for immigration. How to find a suitable object, what you need to know before making a transaction, whether you can take out a mortgage and how much you will need to pay in excess of the price of the object? We tell you about everything in detail.

Content of the article The rights of foreigners to purchase real estate Search for real estate in the United States Step-by-step scheme of a standard transaction Remote transaction Additional expenses How to get a mortgage in the United States Overview of the real estate market situation Resume: this must be remembered The rights of foreigners to purchase real estate Citizens of which countries have the right to purchase real estate in the United States U.S. law does not restrict foreigners. Citizens of Russia, Ukraine, Kazakhstan and other countries of the former USSR are free to buy any objects. You can make a transaction for both an individual and a legal entity. Market professionals recommend the second method, through which you can protect the property from inheritance and gift taxes, as well as limit the liability of the owner in case of an accident. It is best to consult with a tax lawyer before making a decision. What types of real estate are allowed to buy for foreigners Foreign buyers can become owners of both residential and commercial real estate in the United States. No special purchase authorization is required. What rights does a foreigner get after buying a property in the United States The purchase of real estate is not a sufficient basis for obtaining a residence permit in the United States. However, under certain conditions, it will help you get a business visa. So, an EB5 visa can be obtained when buying an investment object worth $1.8 million or more (under certain conditions, the amount is halved). This can be, for example, an apartment building, a shopping center or a hotel. At the same time, it is necessary to provide a permanent job for at least ten people, and the business must be break-even. Options for immigration to the United States United States Long -term visa to the United States for investors and entrepreneurs E-2 Terms of receipt: 4 months. Expenses from $100,000 United States Long -term visa to the United States for persons with outstanding abilities O-1 Terms of receipt: 3 months. Expenses from $5,000 USA Green card in the United States for a qualified EB-2 specialist Terms of receipt: 1 month. Expenses from $5,000 USA Green card in the USA for talented professionals, businessmen, managers EB-1 Terms of receipt: 8 months. Expenses from $5,000 United States Long -term visa to the United States for businessmen, managers and valuable professionals L-1 Terms of receipt: 2 months. Expenses from $5,000 USA US residence permit for investment-EB-5 Terms of receipt: 31 months. Expenses from $900,000 What are the responsibilities of a foreigner after buying a property in the United States Any owner in the United States, regardless of citizenship and residence permit, is required to pay annual property and utility taxes. Tax arrears can lead to fines and refusal to issue a visa or extend a residence permit. Please note! Tax residents of the Russian Federation, that is, people who actually live in the Russian Federation for more than 183 days a year, must notify the Russian tax authorities about opening accounts with foreign banks or creating legal entities. And these actions may be required during the transaction. Read more about the rules for buying real estate abroad for Russian citizens. Search for real estate in the United States How to search for real estate in the United States You should start the purchase with a preliminary selection of the object. You can search for real estate in the United States on local popular portals. The main ones are: Zillow Trulia Redfin ZipRealty Explore also the real estate offers in the United States on Prian.ru. Here it is easiest to find Russian-speaking specialists; in addition, the portal presents objects that are traditionally interesting to foreigners. You can sort your ads by the parameters that are important to you, save your favorite options, and subscribe to updates. You can also submit a request for the selection of an option according to your requirements – the realtors themselves will send you a selection. Articles and news about the United States will help you understand the situation in the local real estate market. Types of real estate in the United States In the American market, you can find the following housing options: private house (single family house), condominium (condo or apartment in an apartment building), townhouse (townhouse), co- op (co-op). A private house, as a rule, is owned by the family that owns it, and other types of real estate imply the neighborhood of several owners. In this case, the management of the housing is assumed by the owners ' association. In some ways, this is similar to Russian homeowners ' associations, but American associations have more rights, and they can significantly affect the lives of homeowners. In the simplest case, they determine the amount of regular payments and the expenses that will be covered at their expense (garbage collection, security, cleaning, etc.). However, often the association also decides whether owners can keep dogs, cats and other pets in their homes, and the number, weight and type of these animals can be determined. In addition, the association can set the procedure for renting out housing and even decide who can and who can not become the owner or live in the house. A cooperative is a special form of ownership that implies joint ownership of real estate. Each co-owner in the cooperative does not buy a separate apartment, but receives a certain number of shares or a share in the common property corresponding to the value of his apartment. The purchase of housing belonging to the association has its own characteristics. In particular, you must first apply for membership in the association and pay a fee. In addition, it will be more difficult to obtain a loan for the purchase of housing in a cooperative, as it will require the approval of the cooperative. This will limit your options for both buying and selling (since the potential buyer will also need to get approval). How to search for a realtor in the United States In the United States, the participation of a realtor in the transaction is optional, but recommended. The realtor will represent your interests all the way from the beginning of the search to getting the keys to your new home. Here's what it does for the buyer: helps you find the right option and determine the actual market value; trades with the seller for a better price; helps in the preparation of all documents, choosing a lawyer, technical inspector and other specialists necessary in the purchase process. Russians in some US states, such as New York, Florida and California, are among the key foreign buyers of real estate. Therefore, many local agencies have employees who speak Russian fluently. Some developers and real estate companies have representatives in Moscow and St. Petersburg. Real estate in the United States can also be selected with the help of Russian agencies working on the international market. See the list of realtors and developers in the United States Please note! Real estate activity in the United States is licensed by the state. And it is monitored by the National Association of Realtors (NAR), the largest professional organization in the United States. The competence of the NAR includes issues of work standards, ethics of realtors and their training. Despite the fact that participation in the organization is optional, it consists of more than a million specialists. Thanks to constant supervision, the real estate business in the United States is extremely transparent: the risks of fraud are minimized. Who else is involved in the real estate transaction In addition to the realtor, you may need the services of a mortgage broker, lawyer, accountant, translator. A mortgage broker will select the best conditions for a bank loan for you. The lawyer will be engaged in drawing up contracts, registering real estate, obtaining a certificate of ownership of real estate. He is also responsible for the legal purity of the transaction. You will need an accountant if you plan to rent out housing. In this case, you will need to fill out an annual tax return, and it is better to entrust this to a specialist. Also, at the purchase stage, you will probably need to contact a tax consultant. Suitable specialists will be advised by a realtor, but you can also do an independent search. Examples of apartments in the States Apartment for 88,028 euros in Orlando, USA Apartments in Orlando, USA 88,028 € Area 67.45 m2, 2 rooms OPISAS Apartment for 85,513 euros in Ocala, USA Apartments in Ocala, USA 85 513 € Area 77.76 m2, 2 rooms OPISAS Apartment for 55,332 euros in Fayetteville, USA Apartments in Fayetteville, USA 55,332 € Area 59.37 m2, 1 room OPISAS Apartment for 55,332 euros in Fayetteville, USA Apartments in Fayetteville, USA 55,332 € Area 59.37 m2, 1 room OPISAS Apartment for 611,988 euros in Miami, USA Apartment in Miami, USA 611,988 € Area 78 m2 Mercury Group Apartment for 1,040,966 euros in Miami, USA Apartment in Miami, USA 1 040 966 € Area 10849 m2 Mercury Group Apartment for 562,457 euros in Miami, USA Apartment in Miami, USA 562 457 € Area 10849 m2 Mercury Group Apartment for 629,617 euros in Miami, USA Apartment in Miami, USA 629 617 € Area 161 m2 Mercury Group Apartment for 2 929 819 euros in Miami, USA Apartment in Miami, USA 2 929 819 € Area 210 m2 Mercury Group Apartment for 586,803 euros in Miami, USA Apartment in Miami, USA 586 803 € Area of 153 m2 Mercury Group Apartment for 1,048,522 euros in Miami, USA Apartment in Miami, USA 1 048 522 € Area of 225 m2 Mercury Group Apartment for 30,641,370 euros in Miami, USA Apartment in Miami, USA 30 641 370 € Area 764 m2 Mercury Group Apartment for 692,579 euros in Miami, USA Apartment in Miami, USA 692 579 € Area of 128 m2 Mercury Group Apartment for 1 200 470 euros in Miami, USA Apartment in Miami, USA 1 200 470 € Area 162 m2 Mercury Group Apartment for 503,694 euros in Miami, USA Apartment in Miami, USA 503 694 € Area 104 m2 Mercury Group