Buying in the United States
January 24, 2010 - United States
1 A foreign investor may purchase real property within the United States in a variety of ways: in his or her own name; through a US corporation, partnership, or trust; or through a foreign legal entity.
2 The income and estate tax consequences of owning or selling property will vary depending on the vehicle through which the actual investment is made.
3 Legal fees and other costs are likely to be around 2 per cent of the price of the property.
4 Buyers interested in Aspen properties should consult a Colorado real estate attorney to clear the title insurance and any property liens prior to signing a contract
5 It is also recommended that potential buyers hire an independent home inspection service.
6 Generally, a closing date is set approximately 30 days from the signing of the contract for sale.
7 Real estate closing fees are normally split 50/50 between buyer and seller
8 Insurance on the real estate needs to be in place to benefit the buyer on the closing date.
report, Buying Property, tips