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Purchasing Property in the U.S.

- Feb/2019

There is no need to possess a green card, a particular type of visa, or even U.S. citizenship to be eligible to purchase property in the United States. However, you will need to obtain an Individual Taxpayer Identification Numberto purchase a home. This number is issued by the Internal Revenue Service (IRS), to foreigners who are not eligible to secure a Social Security Number.

Most people need a loan/mortgage to buy real estate. You can get a mortgage from a local bank or from a mortgage company. A mortgage means you are borrowing money at a specific interest rate for a specific period of time. The interest you pay on your mortgage can be deducted from your federal income tax.

You also need to buy homeowner’s insurance to help pay for any possible future damage to your home.  Insurance usually covers damage due to bad weather, fire, or robbery. You will also need to pay property taxes on the value of your home. A real estate agent or real estate lawyer can help you find a mortgage and insurance, as well as property to buy.

Finally, you will need to pay fees to obtain the mortgage for your property. These fees are called closing costs. Please note, your real estate agent or mortgage lender is required to disclose the amount of these fees will be before you sign the final purchase documents for your home.

If you have plans to internationalize your investments, develop business, and begin your expatriation process, it is important to have a team of lawyers with proven experience, acting in several jurisdictions and accredited by their respective governments. Our highly specialized professionals possess the technical skills required to evaluate the best alternatives and meet your needs and expectations.

To know which immigration option best suits your profile and that of your family, in addition to knowing more about the many possible alternatives for your projects to develop successfully, talk to one of our expert attorneys. Schedule a consultation with HAYMAN-WOODWARD PLLC now.

Our attorneys will assist you in all the details of your expatriation, at all stages, including business development in the United States. For our law firm, each case is unique and is treated as such, with personalized and individualized solutions.

HAYMAN-WOODWARD PLLC is a Washington (D.C) based law firm, specializing in immigration and federal tax laws. All legal services are provided by duly-licensed attorneys in each jurisdiction.

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