Buying and Selling

Buying real estate in the USA

U.S. laws allow foreigners from Russia, Kazakhstan, Ukraine, as well as other CIS countries to buy real estate. Both individuals and legal entities can buy real estate in the United States. And it can be both residential real estate (apartment, house) and non-residential (office premises, warehouses, factory premises).

Buying real estate in America does not mean that a foreigner will receive American citizenship, but it will greatly simplify obtaining a business visa.

After purchasing real estate in the United States, a foreigner will be obliged to pay taxes and all utility bills on it, even if they does not live in the United States.

The standard real estate purchase transaction takes place in several stages:

– Open an account with a U.S. bank.

– Draft a contract of sale.

– The buyer signs the contract and makes a deposit.

– Within 30-60 days after making the deposit, inspection and evaluation of the property is carried out. At this stage, you can refuse to buy if it turns out that the property has significant shortcomings.

– If everything is in order, the buyer’s lawyer conducts a legal check. It checks whether the owner of the property has the right to sell it, whether it is pledged for debts, whether there are any outstanding mortgage obligations, etc.

– Registration of a new property owner. Occurs only after full payment is received.

The buyer can remotely buy real estate in the United States, that is, without personal presence. To do this, you need to contact the American Embassy in your country and issue a power of attorney for a lawyer. The buyer will transfer money for real estate to an American lawyer. Then, the lawyer will transfer them to the seller.

Property for sale in the USA

A foreigner can also contact a lawyer if they want to sell their property in the United States. It can be a house, apartment or non-residential property that was inherited. A foreigner has the right not to come to the United States to sell real estate. All necessary transactions will be concluded on their behalf by an American lawyer.