Foreigners' rights to purchase real estate in the USA

Foreigners' rights to acquire real estate in the USA

This is an important topic that needs to be understood when searching for housing or investments abroad. Acquiring real estate in the USA is available to citizens of various countries, including Russia, Ukraine, Kazakhstan, and other former Soviet republics.

Opportunities for purchasing real estate in the USA

U.S. legislation does not restrict foreigners from acquiring real estate, even in the context of complex political relations.

• Foreigners can purchase both residential and commercial real estate in the States without any special permits.
• The deal can be arranged for both individuals and legal entities.
• Market professionals recommend the second method for tax protection and limiting the owner's liability.

Residence permits for foreigners after purchasing real estate

After purchasing real estate in the USA, a foreigner does not automatically receive a residence permit; however, under certain conditions, this can help in obtaining a business visa.

• You can obtain an EB-5 visa by purchasing an investment property worth at least $1.05 million.
• At the same time, it is necessary to ensure the continuous operation of at least ten people, and the business must be profitable.

Important points

Acquiring real estate in the USA for foreigners is an accessible and sought-after investment option that requires careful study of the legislation and consultation with lawyers. It is important to remember that the real estate market in the USA remains open to foreign investors and does not have significant restrictions for non-residents.

• It's important to study U.S. legislation before purchasing real estate.
• It's better to formalize the deal under a legal entity to minimize tax obligations.

Obtaining a residence permit in the USA

If you are considering emigrating to the USA, keep in mind that there are several ways to obtain the necessary status.

• The green card under the EB-2 category for highly skilled professionals. The processing of such a visa usually takes about a month and can cost you around $5,000.
• A long-term E-2 visa for investors or entrepreneurs. The application process will take about 4 months and will require an investment of around $100,000.
• The EB-1 green card for talented professionals, entrepreneurs, and managers. This process will take about 8 months and costs from $5,000.
• A long-term O-1 visa for individuals with extraordinary abilities. The process will take 3 months and will require you to spend around $5,000.
• Residence permit through investment under the EB-5 category. The process will take 31 months and require at least $900,000.
• The L-1 visa is for businesspeople, managers, and valuable specialists. The process will take 2 months and will require about $5,000 from you.

Important!Remember that purchasing real estate in the USA requires you to pay annual taxes and utilities, regardless of your citizenship or residency status. Failing to meet tax obligations can lead to serious consequences, including fines and denial of residency extension or visa issuance. Also, keep in mind that you need to inform the Russian tax authorities about opening foreign accounts or establishing legal entities as part of transactions.

Real estate search in the USA

If you are looking for real estate in the USA, start by exploring listings on popular local portals such as Zillow, Trulia, Redfin, and ZipRealty. On these sites, you will find listings from realtors and owners, but you can also submit your request indicating your preferences regarding contacts, budget, and purchase timelines. If you are interested in Russian-speaking specialists or properties that cater to foreigners, check out the portal Move.ru. Here, you can request a selection of the best options for you.

Study articles and news about the current situation in the real estate market to stay updated on the latest trends and offers.

Definition of the obligations of associations

Basically, associations define regular payments and common expenses, such as garbage collection or security services. They can also establish rules regarding pet ownership, renting out properties, and selecting new owners. Cooperatives represent a form of joint ownership, where each member receives a share in the common property rather than a specific unit.

The process of buying property in an association

When purchasing a property that is part of an association, it is necessary to go through a selection and approval process. Typically, obtaining a loan for such a transaction is more difficult due to the need for approval from the cooperative. In the U.S., having a realtor involved in the transaction is not mandatory, but it is recommended due to access to the MLS database and the financial benefits for the buyer, who ultimately bears all the costs for the realtor's services. It is worth noting that the real estate market offers various financing options, including low-interest mortgages, making property purchases accessible to a larger portion of the population.

Buying Real Estate in the USA: The Role of Realtors and Other Specialists

Professional realtorIt will help you with the search and purchase of new housing in the USA. For Russians looking to buy real estate in the states of New York, Florida, and California, there are realtors who speak Russian fluently. Additionally, you can use the services of Russian agencies that operate in the international market.

An important task of a realtor

The most important and responsible task of a realtor is to help the client find the most suitable housing option and carry out all the necessary procedures to establish the market value. The realtor can also negotiate with the seller on behalf of their client and manage all stages of the transaction, from drafting the contract to handling the paperwork.

Resources and professional standards

It is important to note that the National Association of Realtors (NAR) is the largest professional organization in the United States that oversees the activities of realtors. NAR creates and establishes standards for work, ethics, and training for realtors, ensuring the quality of services. Although membership in the organization is not mandatory, many realtors choose to become members.

The importance of other specialists

In addition to the realtor and the seller, a mortgage broker, lawyer, accountant, and translator may be needed in a real estate transaction. The mortgage broker helps the client choose the best loan terms while maintaining financial stability. The lawyer handles contracts, registration, and other legal aspects of the deal. The accountant assists in preparing the tax return when renting out the property. All of them are an integral part of the home buying process in the USA.

Tax consultant and independent search

A realtor can recommend suitable specialists to you, but if you prefer to conduct your own search, don't forget to pay attention to the reputation and experience of the specialists. Legal advice and tax counsel can be decisive factors when purchasing real estate in the USA. Keep in mind that a professional realtor is always ready to help you with any questions that arise and can ensure a successful real estate transaction.

Miami: an attractive city for real estate investment

Miami is one of the most attractive cities for purchasing residential or commercial real estate. Here, you will find a variety of options for buying apartments equipped with fresh finishes and new windows with blackout curtains in the bedrooms. The beach is just a few minutes' walk away.

Collaboration with an experienced real estate broker

If you are interested in purchasing real estate in Miami, you can contact Dmitry Baranov - an experienced real estate broker. He represents Square Estates LLC, which has an extensive database of new developments and secondary market properties in Miami and South Florida.

Convenient transactions and payment with cryptocurrency

You can have an online showing and complete a remote transaction, as well as pay with cryptocurrency. If you have any questions about this property or the real estate market in Miami, Dmitry Baranov will be happy to assist you. Both residential and commercial properties are available here, making Miami an ideal place for investment and living.

Advantages of collaborating with us

• A wide selection of offers for purchasing real estate
• Experienced real estate brokers
• Convenient transactions and the option to pay with cryptocurrency
• The opportunity to acquire both residential and commercial real estate.
• Assistance with real estate questions in Miami

If you are looking for real estate in Miami, working with Dmitry Baranov and Square Estates LLC will be the best decision for a successful purchase. You will be able to find the optimal offer, and experienced brokers will help you complete the deal quickly and smoothly.

Welcome to the world of real estate in Miami!

If you have any questions about this vast real estate market, feel free to reach out! I am ready to share information and assist you in choosing and purchasing residential or commercial property in South Florida. I have access to a variety of listings — both new construction and already completed apartments on the secondary market. Additionally, we have the option to arrange online property viewings for you, as well as conduct all transactions remotely. My name is Anna Ivanova, and I work in real estate as a professional broker.

Proposals from Square Estates LLC

Square Estates LLC offers a wide selection of apartments in various neighborhoods of Miami, ranging from small spaces of 70 square meters to luxurious apartments of 300 square meters. Housing options include apartments with 2-5 rooms and from one to six bathrooms. The price range starts at €527,825 and goes up to €4,000,069, allowing you to choose the best solution for your needs. With us, you can make a deal remotely or even use cryptocurrency for payment—this is just part of the options we offer our clients for maximum convenience.

Don't hesitate to ask questions!

Feel free to ask any questions related to purchasing real estate in Miami or investing in this promising region. I would be happy to be your guide in the world of real estate in South Florida!

Real estate in Miami from Square Estates LLC

Square Estates LLC is ready to present you with an amazing selection of real estate in the beautiful city of Miami, USA. Our portfolio features a variety of properties - from stylish lofts to cozy townhouses.

Examples of available real estate:

• Loftan area of 300 square meters, priced at €3,218,446, with 5 rooms, 4 bedrooms, and 5 bathrooms.
• Apartments260 square meters, priced at €3,213,848, 5 rooms, 4 bedrooms, and 5 bathrooms.
• Apartment140 square meters, 3 rooms, 2 bedrooms, and 2 bathrooms, price €1,839,112.
• Apartments160 square meters, 4 rooms, 3 bedrooms, and 4 bathrooms, valued at €1,351,747.
• Townhouse140 square meters, 3 rooms, 2 bedrooms, and 3 bathrooms for the price of €1,287,379.

Consultations and support

We are always ready to provide you with complete information about the real estate market in Miami, both for new and secondary properties. You can get online consultations with us and close deals remotely, which significantly simplifies the home buying process. Additionally, we accept cryptocurrency as payment and can assist with financing.

Contact us

Feel free to reach out to our experienced real estate broker, Dmitry Baranov, if you have any questions or if you're interested in any of our properties. We are happy to assist you with purchasing residential or commercial real estate in beautiful South Florida.

Housing in Miami, USA - Square Estates LLC offers a wide selection of residential and commercial real estate in South Florida. They have a large variety of new constructions and properties on the secondary market, including apartments of various sizes, room counts, and amenities.

Real estate buying and selling

For example, you can buy an apartment for €1,287,379, with an area of 150 square meters, 4 rooms, and 3 bathrooms. There is also the option for an online viewing and to finalize the deal remotely, and payment can be made in cryptocurrency.

Prices for other apartments range from €1,195,423 for a 130 square meter apartment with 3 rooms and 2 bathrooms to €1,149,445 for a 140 square meter apartment with 4 rooms and 3 bathrooms. All apartments are also available for online viewing and remote purchase, and payment can be made in cryptocurrency.

Real estate broker

Dmitry Baranov, a professional real estate broker, will provide consultation and assistance in selecting and purchasing property in Miami. You also have access to over 1300 similar listings, among which you can choose the most suitable option.

Important aspects of purchasing

It is important to consider a thorough analysis and selection of the appropriate property, taking into account the monthly maintenance costs and the possibility of obtaining the necessary financing. After such an assessment, one can confidently make a final decision and begin the process of purchasing real estate in Miami.

Choosing a lawyer for real estate transactions

The preparation of the purchase offer is carried out by the realtor on your behalf. It is a standard contract drafted by state realtor associations, which will outline all the terms of the transaction. If you plan to take out a loan, a bank confirmation of loan approval will be attached to the offer. If you are paying with your own funds, you will need to provide proof of available funds in your bank account.

Signing the contract and registering the transaction

If the seller accepts your offer, a contract is signed in the presence of a realtor. The contract outlines all the terms: the sale price, the deposit, the conditions of the sale, the timelines for inspections and appraisals, as well as the specific deadline for closing the deal. A title company and escrow, which registers the transaction, are mandatory participants in the transaction.

Help from a lawyer and a realtor

Remember that a properly drafted contract protects you from potential risks and issues in the future, so it's worth using the services of a lawyer and a realtor in this matter. They can help you maintain your peace of mind and protect you from legal problems.

To properly arrange the purchase of real estate, it is necessary to provide a purchase offer drafted by a realtor on your behalf. This document will outline all the terms of the transaction.

Key aspects of verifying the legal aspects of real estate purchase

Lawyers play a key role in the real estate purchasing process, providing legal oversight and document verification. When finalizing a deal, special attention should be paid to several important aspects.

Property inspection

One of the mandatory clauses of the contract is the property inspection, which typically has a timeframe of about 10 days. The purpose of the inspection is to identify any hidden issues with the property. The seller must provide the buyer and the inspector with full access for the inspection.

Force majeure circumstances related to the mortgage

Force majeure circumstances related to mortgages include the buyer's right to withdraw from the transaction in the event of a refusal to grant a mortgage loan. In this case, the deposit can be refunded without any additional conditions.

Additional expenses

Additional expenses, such as document preparation, insurance, and escrow services, are specified in the contract and are typically paid by the buyer.

• Document preparation
• Insurance
• Escrow services

Security deposit

The security deposit, which ranges from 3.5% to 15% of the property price, is paid by the buyer to ensure the fulfillment of obligations.

Termination of the contract

In case of non-fulfillment of contractual obligations, it is possible to terminate the contract. Delayed deposit payment by the buyer, cancellation of the deal without sufficient reasons, or the seller's failure to meet the contract conditions may lead to such consequences.

The seller is not vacating the premises by the agreed deadline.

If the seller does not vacate the premises after the agreed-upon deadline, it can lead to significant problems for the buyer. In this case, the buyer may terminate the contract and reclaim the deposit.

Buyer documents for contract signing

To conclude the sales contract, the buyer needs to provide the following documents:

• Copy of internal passport
• Copy of the foreign passport
• Valid visa

These documents are needed to confirm the buyer's identity and their right to reside in the country.

Property inspection and appraisal

After signing the purchase agreement, a property inspection and additional appraisal are conducted. This stage usually takes between 30 to 60 days.

A property inspection is conducted by a licensed professional to identify any deficiencies. If issues are found during the inspection, the buyer can either back out of the deal or negotiate a price reduction.

The cost of the inspection depends on the complexity of the property. The inspection fee for a small apartment ranges from $300 to $500.

The stage of assessing the market value of the property, which should be conducted by a professional expert, is also important.

Legal review

After signing the contract, a legal review is conducted to confirm ownership rights and check for any possible encumbrances. The cost of the review is already included in the overall expenses.

A mandatory property insurance contract is also concluded, which guarantees protection for both the new owner and creditors against potential issues with property rights.

Acquisition of real estate in the USA

Acquiring real estate in the USA is a process that, despite its apparent simplicity, requires a certain level of understanding. It's important to note that the steps involved can vary from state to state, but key aspects must be followed for a successful transaction.

Conclusion of the deal and payment

One of the fundamental steps is to finalize the deal and make the payment. The buyer must transfer the agreed amount upon completion of the transaction to obtain ownership of the property. Additionally, all extra costs, such as taxes, need to be taken into account. Payment can be made via bank transfer to the lawyer's account or to a special escrow account.

Acquisition of ownership rights

At the final stage, the buyer receives a document confirming their ownership rights - a deed. In certain regions, the right to property officially transfers only after this document is registered. The registration process can take from six to ten weeks. For a remote transaction, a power of attorney for a lawyer is required, and in such cases, the money is transferred to an escrow account.

Collaboration with a licensed specialist

To minimize potential risks, it is important to work with a licensed professional. Dishonesty or violations during a transaction can lead to serious consequences, including the revocation of a license. Therefore, it is essential to always deal with professionals to ensure a successful and legal completion of the transaction.

Advantages of acquiring a land plot

According to real estate experts, land is one of the easiest purchases in the states. Acquiring a plot of land in the USA is a completely straightforward process. There is no need to undergo any inspections or purchase insurance, which makes this option even more appealing.

Payment of additional expenses

It is important to keep in mind that when bringing cash into the US exceeding $9,999, there is a duty when exporting from Russia.

Remote deal

A remote transaction is also possible, provided there is a power of attorney for the lawyer - the money is transferred to a trust account.

The key to a successful and legal deal

Dealing with a professional is the key to a successful and legal transaction. Risks are minimized when working with a licensed specialist, as dishonesty in conducting the transaction can lead to the loss of their license.

A reliable real estate purchase in the USA through an escrow company

In the USA, where transactions are conducted through escrow services, key documents are signed at the US embassy and sent to the company at the specified address. Funds are transferred to a special escrow account to ensure the security of the transaction, after which the amount is transferred to the seller, taking into account all necessary expenses. This innovative method significantly increases the reliability of transactions and reduces potential risks.

Examples of residential real estate in Miami, USA

Let's take a look at a number of real estate examples in the state of Florida, USA.

Private house in Miami Beach for €8,622,071

• Area of 511 sq.m.
• 6 bedrooms, 6.5 bathrooms.
• Living area of 5,506 square feet.
• A large plot of land measuring 12,052 square feet.
• Located in a gated community on the Normandy Islands in Miami Beach.

Villa in Miami for €2,754,070

• Area of 340 sq.m.
• 6 bedrooms and 5 bathrooms.
• The deal can be successfully completed online with the option to pay in cryptocurrency or use credits.

If you are interested in this offer or would like to explore other options for residential or commercial real estate in Miami, feel free to reach out to me! I am always ready to help by providing access to a variety of properties from both the primary and secondary markets. Additionally, we are prepared to offer you the opportunity for online viewings and remote transactions.

Other options for residential real estate in Miami, USA

• A house in Miami with an area of 200 sq.m. for €1,609,223.
• A villa in Miami with an area of 300 sq.m. for €3,932,941.
• A villa in Miami with an area of 330 sq.m. for €4,593,183.

All these properties are available for purchase with online viewings and remote transactions. For more information or consultations regarding real estate, feel free to contact me.

Dmitry Baranov, an experienced real estate broker, is ready to provide you with comprehensive assistance in the current process of purchasing residential or commercial property in Miami, USA!

Dmitry Baranov works at Square Estates LLC, a company that specializes in real estate sales in Miami and South Florida. They offer a wide selection of both residential and commercial properties in both the primary and secondary markets.

One of the main advantages of working with Square Estates LLC is the ability to conduct online showings and finalize deals remotely. This is very convenient, especially for foreign buyers who cannot visit the property in person and make a purchasing decision.

For example, there is a house for sale in Miami, with an area of 500 square meters, priced at 4,128,807 euros. This spacious house has 8 rooms and 7 bathrooms. The deal can be closed online, and payment is accepted in both cryptocurrency and traditional methods, including credit.

In addition, Square Estates LLC has villas for sale ranging from 390 to 600 square meters, with prices varying from €4,593,183 to €8,092,093. These properties are located in picturesque areas of Miami and South Florida, equipped with all amenities, and available for online viewings and remote closings.

If you have any questions about purchasing real estate in this region, reach out to Dmitry Baranov for assistance. He can help you choose a property and facilitate the transaction. With a wide database of properties available for online viewings and the option to complete the deal remotely, the process of buying real estate becomes simpler and more convenient.

A wide selection of real estate in Miami and Atlanta

Square Estates LLC offers a wide selection of real estate in Miami and Atlanta, USA - from villas to luxury homes. In Miami, we provide villas ranging from 300 to 440 square meters, each unique and representing an excellent opportunity for investment or comfortable living. All properties are available for online viewing, which is convenient for clients from different countries who wish to explore real estate from afar.

Consulting support

Our main broker, Dmitry Baranov, focuses on the South Florida market and is always ready to provide consulting support on all matters related to purchasing residential or commercial real estate in this region. We have an extensive database of both new constructions and properties on the secondary market, which allows us to accurately match the optimal options to our clients' requests.

Payment terms and financing

Square Estates LLC also offers convenient payment options with cryptocurrency and financing for transactions to enhance client convenience. We aim to provide not only top-notch real estate but also innovative approaches to the financial aspects of deals.

Luxury homes in Atlanta

In the city of Atlanta, we offer elite homes, such as a luxurious house on a 1.7-acre lot in Tuxedo Park, built by RL Connelly & Co to the design of renowned architect Brian Smith. This home boasts an area of 839 square meters and offers privacy and spaciousness in the heart of a prestigious neighborhood. Inside, you will find a chic kitchen with marble countertops and Wolfe Stainless appliances, a cozy living room with a fireplace, and access to the pool.

Contacts

If you are interested in purchasing real estate in Miami or Atlanta, please contact us for more detailed information or to arrange a viewing. We are ready to help you realize your plans to acquire property in one of the most attractive regions of the USA.

Choosing real estate in Miami with Square Estates LLC

Square Estates LLC offers a wide selection of villas and estates in Miami. It helps clients find residential or commercial properties by providing access to a database of new developments and secondary market listings in South Florida.

In addition, the company offers online viewings and the option to close deals remotely, making real estate purchases accessible even for those who are far from Miami. Payment for the property can be made in cash or cryptocurrency, and there is also the option to obtain a loan.

Investments and immigration in Miami

For those interested in investments and immigration abroad, information is provided about opportunities to invest in suburban real estate in Miami.

It is important to consider that when purchasing real estate in the USA, the buyer should take into account additional expenses such as attorney or title company fees, property insurance, registration and court fees, which can amount to 1-2% of the transaction value without using a mortgage.

• Additional Costs:services of a lawyer, title company, insurance, and court fees.
• Broker's commission:It can reach 4-6% of the property's price and is usually paid by the seller.

Additional expenses when purchasing real estate in the USA

Purchasing real estate in the USA may involve additional costs that need to be considered before finalizing the deal. One of these costs is the transfer tax, which ranges from 0.01% to 2.00% of the transaction amount and is typically paid by the seller.

House inspection

Although a home inspection is not a legal requirement, it is recommended to conduct one for peace of mind regarding the condition of the property. The cost of the inspection ranges from $300 to $500.

Purchase through a mortgage

Purchasing through a mortgage also involves additional expenses, such as:

• property appraisal (from $250 to $600);
• opening an escrow account ($40);
• commission for issuing a loan (approximately 0.5% of the loan amount);
• mortgage insurance (from 0.55% to 2.25% of the value);
• the commission of the mortgage broker (from 0.50% to 2.75% of the property price);
• title insurance (from 0.5% to 1.0% of the price);
• property insurance (about 1% of the value per year).

The insurance price for a property depends on various factors and can range from 1% to 5% of the property's value per year.

Payment for a lawyer and a notary

Payment for a lawyer is a mandatory expense and usually ranges from $1000 to $1500. Payment for a notary, who certifies the documents, is also required.

Translation services

If the buyer does not speak English, they will have to pay for translation services to translate all documents, which also includes additional costs (approximately $20 per page).

Other expenses

Additionally, it is important to consider various fees and charges when purchasing real estate, including the title search fee (approximately $200) and property taxes for the city and county for two months, which together amount to 1-2% of the property's value per year.

Example of expenses

For example, if an apartment in Miami with an area of 100 square meters is purchased for $300,000, additional expenses may include:

• the fee for the home inspection ($400);
• application fee for a mortgage ($300);
• title insurance ($1500);
• valuation of the property ($350);
• account management for mortgage payment ($40);
• commission to the mortgage broker ($800);
• the commission for issuing the loan ($2700);
• insurance of the object ($1500);
• lawyer's fee (up to $1500);
• the fee for the title company ($200).

Getting a mortgage through a mortgage broker

It's best to obtain a mortgage for purchasing real estate in the USA through a mortgage broker who works with various lenders and can find a product that meets the client's needs. The broker will calculate the maximum loan amount, as well as the optimal interest rate and repayment term based on income, credit history, and down payment.

Necessary documents for mortgage processing

In addition, certain documents are required to obtain a mortgage, such as a copy of your internal and foreign passport, a valid US visa, and depending on the bank's conditions, additional documents may be required, such as proof of income, tax returns, a letter from an accountant or employer, and bank statements. Obtaining an official written confirmation of the loan terms is also an important document that should be obtained before starting the search for real estate.

Changes in the real estate market due to the pandemic

Due to the coronavirus pandemic, volatility in the American real estate market was inevitable. New York took the hardest hit from the crisis, but as quarantine measures eased, the market began to recover, with renters and buyers returning to the metropolis. By the end of 2021, a 30-year record for apartment sales was broken in Manhattan. In this situation, it is worth paying attention to the changing priorities in real estate and new market trends.

Foreigners' rights to purchase real estate

Which countries' citizens have the right to purchase real estate in the USA?

• U.S. legislation does not restrict foreigners.
• Citizens of Russia, Ukraine, Kazakhstan, and other former Soviet countries can freely purchase any properties.

Real estate search in the USA

How to search for real estate in the USA?

• The purchase should begin with a preliminary selection of the item.
• You can search for real estate in the USA on popular portals such as Zillow, Trulia, Redfin, and ZipRealty.
• Contact realtors who can help you find the best option.

Various types of visas and immigration opportunities

What types of real estate are foreigners allowed to purchase?

• Foreigners can become owners of both residential and commercial real estate in the USA.

What rights does a foreigner obtain after purchasing real estate in the USA?

• Acquiring real estate is not a basis for obtaining a residence permit, but it can help in obtaining a business visa, such as the EB-5.
• Various immigration options through investments, including EB-2, EB-1, EB-5, L-1, and others.

Responsibilities after purchasing real estate in the USA

• Property owners are required to pay annual taxes and utility bills.
• Tax residents of Russia must notify the Russian tax authorities about their foreign accounts.