Why Invest?
The principal reasons why it is very desirable to invest in real estate in the USA is the politically stable government, a strong economy, and secure property rights.
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Market Report
International Property Brokers have revised the forecast for average growth in 2007 to 2.7%. The economy stretched by an annualized 3.5% in the fourth quarter of 2006, as consumers remained flexible in the face of falling house prices.
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Economic Overview
The largest sector in the United States economy is service, which employs roughly three quarters of the work force. The economy is fueled by an abundance of natural resources, such as coal, petroleum, and precious metals.The U.S has a large tourist industry, ranking third in the world, and is also a leading export in goods such as automobiles, airplanes, steel, and electronics.
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Visa/Residency Issues
The most common USA Visa is a "Nonimmigrant" Visa - this is for someone who intends to come to the USA "temporarily" and for a specific purpose. Typically on an H1B Work Visa, F1 Study Visa, L1 Intra-Company Transfer Visa, K and V Fiancee Visas.
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Getting to USA
The majority of visitors to the States arrive by air using either an international carrier or one of the several US airlines.
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Fees & Taxes
- Transfer tax is required whenever real property is transferred from one owner to another. In most cases, it is based on $.55 per $500 of purchase price, or $1.10 per $1,000 of purchase price.
- A 15% sales tax on the final purchase of goods and services at the retail level.
- Different states have different sales tax or VAT. In Florida VAT is 6%.
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United States
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Basic Information
| Population |
298,540,066 |
| Languages |
English and Spanish |
| Area |
3,718,711 sq mi |
| Currency |
1 US Dollar is made up of 100 cents |
| Dialing Code |
+1
|
| Emergency Services |
911 |
SA Overview
The United States of America, also referred to in short form as the United States, the USA, or simply the US, and locally as America, is a country in North America that extends from the Atlantic Ocean to the Pacific Ocean, and shares land borders with Canada and Mexico.
Average Property PricesComing Soon.
Buying Process
- Once you have found your property usually 10% of the purchase price is due as a deposit on the signature of the sales contract. If you are buying a new-build property payment will be set by the construction company.
- A title company will check the title of the property for you and all other documentation associated with your purchase. Once formalities on the paperwork are complete a lender will release funds directly to the Title Company to complete the purchase.
- A Notary Public is also required to notarize the documents as a party completely independent of the bank/lender.
- An offer to buy is usually made through the seller's property broker. There is no "subject to contract" period clause in Florida - you either sign a contract at the beginning or you do not, so beware of signing any forms without your lawyer being present, as any you do sign will form a binding agreement.
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