What you need to know about the purchasing process

What you need to know about the buying process

Buying a property in the United States is much easier and faster than you might think, but it also has its peculiarities.

The first step is to choose a good realtor, to help in the whole process of searching, selecting, and closing the deal.

In the USA there is a system called MLS, which lists all available properties on the market. All brokers have access to the same system and can sell the same properties. Also, another piece of information you need to know is that realtors are paid by the sellers, not by you. Therefore, the big differential will come from the quality of the professional.

Before buying the property you must make a written offer

After choosing the property you, through your broker, will send a written offer to the seller, saying how much you accept to pay and in what way. If accepted, the offer cannot be changed by either party afterwards.

The next step is to do a closing process and signing of the "deed", usually performed by a closing agent. Often, before this stage, a deposit is required as a guarantee that the buyer is really interested in closing the deal. The closing agent is responsible for managing this deposit.

I am a foreigner, can I finance a property in the USA? Yes, you can!

If you are not going to pay cash, you can apply for financing from an American financial institution. It usually requires a 30% to 50% down payment, 3 installments in advance, and proof of income from Brazil. If you do not get the loan, the deposit made as collateral is returned to you.

Should I hire a lawyer?

You do not need to hire a lawyer, but it is something worth considering if you prefer to be more secure about the transaction.

So, do you understand how it works? If you have any questions, please contact us and we will be happy to help.

Did you like the article? Keep an eye on our blog! Wanting to invest in Florida real estate? See the list of houses for sale in florida that we have selected for you!

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