property for sale usa
FAQ´s United States
- Can foreign nationals own USA property?
- Is it right now a good moment to invest in the United States?
- What is the economic and political situation?
- Could you please give me a rough overview of the American tax system?
- Which indicators are crucial when it comes to getting a mortgage?
- Which documentations are required to obtain a mortgage?
- What is the use of the Escrow Account?
- I am not sure where to invest in the United States.
- How can I travel to the USA?
- Do I require a visa to enter USA?
1) Can foreign nationals own USA property?
Yes, foreigners are free to purchase real estate in the USA. There is an abundance of finance and mortgage facilities available to foreign investors in all areas of the States.
2) Is it right now a good moment to invest in the United States?
The United States is a very good market for overseas investors since the US dollar is at a historical low and it is very likely to find a well-priced usa property bargain.
3) What is the economic and political situation?
The USA is the world's largest economy. Despite economic
losses during the Iraq and Afghanistan wars, and Republican losses in the
mid-term elections, USA property still offers investors strong potential.
A recent rise in interest rates has slowed down the market, while many investors
see this as an ideal time in which to buy, while prices are at a standstill
for now. They are favouring top-end luxury property or other options located
in busy tourist locations where values will continue to rise. In today's
economic climate the strength of the Sterling and Euro against the Dollar
allows many foreign investors to purchase even more for their money.
Read more about investing in the United States.
4) Could you please give me a rough overview of the American tax system?
Taxes in the USA will vary according to where you live and whether you are considered resident or non-resident for tax purposes. Local taxes are levied to cover education and other services. USA income taxes and capital gains taxes are fairly low, but inheritance tax needs good planning. It is essential to employ a professional to guide you through the tax system.
5) Which indicators are crucial when it comes to getting a mortgage?
The right type of mortgage for you depends on various aspects:
A fixed rate mortgage over a period of say 15 to 20 years could save many thousands of dollars over the period of the loan, but repayments are higher. On the other hand an adjustable rate mortgage may start with lower monthly payments, but these will obviously change if interest rates go up.
6) Which documentations are required to obtain a mortgage?
Read more about investing in the United States.
7) What is the use of the Escrow Account?
Mortgage lenders often set up escrow accounts to cover payments of costs such as usa property taxes, local taxes and property insurance premiums. They ensure these bills are paid in a timely fashion and help the homeowner to avoid the pitfalls of unpaid bills.
8) I am not sure where to invest in the United States.
According to experts, it is recommendable to invest in safe major cities like Boston, Miami, New York or Chicago, rather than in the outskirts to make sure you will be able to let your property later on.
9) How can I travel to the USA?
Please have a look at our page Chicago to see the flight connections and companies who are operating between Chicago and London, Chicago and Madrid and between Chicago and Barcelona, for example.
The USA is well served by giants such as British Airways and Virgin Atlantic airlines, while an Open Skies agreement is planned in order to open up travel options to Europeans seeking more competitively priced services from a wider variety of airlines in the near future.
10) Do I require a visa to enter USA?
Under the Visa Waiver Program, some foreigners are allowed to stay in the USA for 90 days without applying for a visa. Currently, 27 countries participate in the Visa Waiver Program, as shown below:
Visa Waiver Program - Participating Countries:
Andorra, Australia, Austria, Belgium, Brunei, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Japan, Liechtenstein, Luxembourg, Monaco, The Netherlands, New Zealand, Norway, Portugal, San Marino, Singapore, Slovenia, Spain, Sweden, Switzerland and the United Kingdom.
If you wish to stay in the USA for longer or do not come from one of the above countries, you will need to find out about your particular visa application needs. You are advised to apply to the American Embassy or Consulate within the jurisdiction of your permanent residence.
