Real estate in America has always been and remains a popular investment. More and more people, regardless of their financial situation, are interested in buying an apartment or house in the States. In this article we will tell you how to buy real estate in Hawaii, what to look for and how not to make mistakes.
You do not need to be a citizen of the country to buy property in Hawaii. To do this, you need to have an amount relevant to the chosen housing, or a positive credit history for obtaining a loan.
The choice of real estate depends on several factors:
1. For what?
There are 50 states in the United States, each of which is different. Different climate conditions, economic and social situations, housing prices. The choice depends on your capabilities and preferences. To search for real estate, use the portals such https://hawaiitrustedrealty.com/property-management
3. How to find a realtor?
In the United States, it is impossible to complete a transaction on the real estate market without a realtor. He will accompany you at all stages of the transaction. Spend as much time as possible on the question of finding a specialist. When choosing a realtor, check for a license, check if he is a member of the US National Association of Realtors. It is good if the specialist also has a certificate for working with foreign clients (Certified International Property Specialist (CIPS)). If your English leaves much to be desired or you just don’t want to communicate in it, you can find Russian-speaking realtors on the Internet. In the States, a certain tradition has developed: the buyer usually does not pay a commission to the realtor, it is the seller who does it. But there may be exceptions depending on the state or real estate agency. Please note that a realtor equally takes into account the interests of both the buyer and the seller.
On average, it takes one to two months to find and buy a home in the United States. To begin with, the realtor will send you a buyer’s application form. In it, you must indicate which property you need. The more specific you are, the better. At the same time, you can start making a visa at the invitation of a realtor (or real estate agency). Every day, you will receive an email with options for houses and apartments in the selected city and in accordance with your wishes. The mailing usually happens automatically. Finally, you choose the houses or apartments that interest you the most (5 options). And get ready for the trip.
At the airport, the buyer is usually met by a realtor or other representative of the real estate agency (as agreed). Next, you have to view all the selected objects personally. Usually a week is allocated for this. After you select an object, the realtor prepares a price offer. Note that bargaining is acceptable on the US real estate market. The document prepared by the realtor is first signed by you, then it is given to the seller for consideration.
If the owner of the property is satisfied with the price, the stage of concluding a Real Estate Purchase contract begins. There are more than 8 forms of contracts. The buyer chooses the one he likes. In general, such contracts are quite flexible – they can be modified and the wishes of the buyer can be introduced. The husband and wife may have equal or unequal shares in the contract; one of the spouses may not be mentioned at all. At this stage, the title company controls all legal issues: verifies and certifies documents. At this point, the buyer must pay a deposit – usually 5% of the value of the property.
After the conclusion of the contract, the rest of the amount is paid. If you do not take out a mortgage, then it is not necessary to open an account with a US bank. As soon as the title company receives information about the full payment (or documents from the bank for granting a loan), the buyer receives the title to the property. Property rights often need to be registered with the district court. This is also done by the title company: the document is transferred to the court employee, and after registration is sent to the owner.