4 property market trends to expect in 2022
The impacts of COVID-19 are expected to continue to sway the property market in the year ahead, even as the country’s ...
If you are an international buyer looking to buy a property in the USA, there are three steps to help you achieve success.
Blogger: Mark Rooney, Investinus Group
Step 1. Search
Most people think that the process starts with the search for the property. But I go a step backwards. The search starts with finding the right team to support your buying process. A support team includes different specialized professionals, including a real estate lawyer, an accountant specializing in international customers--even better if the accountant has previous experience with real estate investors from your country and knows the treaties between USA and your country, tax laws and other important information--a mortgage broker that specializes in international customers and has access to banks that has financing programs for foreign nationals, and a realtor that specializes in international customers.
The second part of the search process is the search for the property. Ideally your realtor will send you links with properties pre-selected for you based on your preferences. One of the key points searching for property is to understand if you are going to use the property as a second home or as an investment property for rent. Many properties are not allowed to be rented right away; some associations require that you own the property for at least one year before you are allowed to rent it. There are many other things that are important at the time of search, so the more clarity you can offer your team, the better odds your team will be able to help you find the right property. If you are not clear, make sure to have a conversation with your realtor to help you define the basic area, size and characteristics you want.
Step 2. Select
It can be overwhelming to see how many properties are on the market. Selecting the right property can be confusing. The best way to do this is ask your team to help you in this process. Time will be critical; you want to maximize your time. Make a list of things that you can live without and the ones that you can't live without, which will help you select the best ones for you and your goal.
Once you see the properties, select the two or three that you like the best.
Step 3. Present
Presenting an offer is a very important part of the process. Know the property and the team you have with you well, make sure they understand deeply what you are trying to achieve to ensure it is a success. How can you use this information? If a property has been on the market a long time, the seller might be willing to accept a lower offer. Analyzing this information sometimes becomes an art more than a science, so the experience of the team working with you is important.
At the end of the day, the success of a real estate transaction depends on many factors and requires more than only visiting properties to choose the one you like best. A successful real estate investor will take the time to work on each of these steps.
About Mark Rooney
Investinus Group's Mark first found out about the advantages in the U.S real estate market in February 2002, whilst on a business trip to Canada and the U.S.A. The initial contacts made were able to assist with learning and studying the market place and how an Australian can invest into the U.S market safely and also have assurance that a team there can protect the asset.
For the next 4 years Mark researched the U.S real estate market and looked for opportunities to build further relationships with people. Over the next few years Mark gained an understanding of the various cities and what investment outcomes they provided a foreign investor.
In 2009 Mark was asked to assist others with purchasing property in the U.S.A. This was the initial beginnings of Investinus Group, whose focus is ensuring that their clients have a safe and secure investment in U.S. real estate.
The group aims to build strong relationships with their clients and the people who work with them, suppliers, property managers, attorneys, accountants and developers.