Buying and Selling

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Buying real estate in the USA

US laws allow foreigners from Russia, Kazakhstan, Ukraine, and other CIS countries to buy real estate. Both individuals and legal entities can purchase real estate in the States. Moreover, it can be 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 make it much easier to obtain a business visa.

After purchasing real estate in the United States, a foreigner has to pay taxes and all utility bills, even if he does not live in the States.

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

• To open a US bank account.

• Drawing up a sales contract.

• The buyer signs the contract and makes a deposit.

• Inspection and appraisal of real estate are carried out within 30-60 days after making a deposit. At this stage, you can refuse to purchase if it turns out that the property has significant flaws.

• If everything is in order, the buyer’s attorney will conduct legal due diligence. 

• Registration of new owner. It occurs after full payment has been received.

The buyer can remotely ( without personal presence) buy real estate in the United States. 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 the money for the property to the American lawyer on his account. The lawyer will then transfer them to the seller.

Real estate sales in the USA

A foreigner can also contact a lawyer if he wants to sell his property in the United States. For example, it can be a house, apartment, or inherited non-residential premises. A foreigner has the right not to come to the United States to sell real estate. All necessary transactions will be concluded on his behalf by an American lawyer.