Before you buy a property in the United States, you should figure out how exactly to do that. So, how can you make the dream of owning a house in the US come true? Here are 5 steps you have to do to succeed.

Step 1: Assessing Your Finances and Choosing a Home

The process of buying property in the United States begins primarily with an assessment of the financial situation and opportunities. Compare how much a house costs, think about whether you can pay the entire amount on your own or you need to take out a loan, calculate also the number of additional expenses such as payment for escrow services. Then you can begin to consider specific proposals. For this, you need an agent. He picks up the houses according to your requirements, arranges viewing and takes you through them.

Step 2: Preliminary “Bidding”

Rules for buying property in the United States suggest that your agent prepares an offer – an offer to buy a house on certain conditions. As for the price, the cost of a home in the USA varies from state to state.

Step 3: Confirmation of Solvency and Signing of the Contract

Next, you need to confirm your solvency. This may be a letter or a certificate from the bank stating that there is a necessary amount on your account to buy a house and cover all additional expenses, or a guarantee of a loan. Agents draw up a contract of sale/purchase and organize its signing by the parties. If you are going to buy a house on credit, at this stage you need to submit an application and other necessary documents. In the case of a positive decision, the bank will send you a letter indicating its readiness to issue a specific amount for the purchase of a particular house.

Step 4: Opening an Account

As a rule, the sale of homes in the United States is accompanied by the opening of an escrow account, through which all calculations take place. The buyer must also make a deposit as a guarantee of the seriousness of the intentions. At the same stage, various inspections at home take place, the purpose of which is to detect possible faults and defects.

Step 5: Closing Escrow and Receiving Keys

Buying a home in the US ends with the closing of an escrow. When all the conditions under the contract are fulfilled (all necessary documents have been transferred), the escrow company transfers the money to the seller’s account. The agent of the latter hands over the keys to the buyer’s agent, who in turn hands them to the newly made happy owner of a house or apartment.