Buying guide
Buying property in the United States of America
Buying a home in the USA made simple with our expert buying guidance.
From New York brownstones to Californian coastal retreats, no matter what your property goals are, we provide expert guidance on buying a house in the USA.
Feel confident in securing your residential investment with our breakdown of the legal regulations and fiscal policies to follow when purchasing property in the USA.
Who can buy in the USA
There are no restrictions on who can buy property in the USA; you don’t need to be a citizen or resident, but this doesn’t give you a direct right to permanent residency. To live in the USA, you’ll need the appropriate visa or residence status.
You’ll need to apply to the Internal Revenue Service (IRS) for a Taxpayer Identification Number (ITIN), and if you require a mortgage, you’ll need to open a US bank account
The buying process in the USA
- Once you’ve found the property you’d like to purchase, put in a written offer.
- This offer includes details such as purchase price, contingencies, and the proposed closing date.
- Carry out appropriate due diligence, including conducting a title search, ensuring the property complies with local zoning and land-use regulations, and performing a property inspection.
- Once your offer is accepted, both parties sign a legally binding purchase agreement, outlining the terms and conditions of the sale.
- You’ll also need to submit an earnest money deposit, typically 1-3% of the purchase price.
- To officially transfer ownership of the property, you’ll need to sign the title deed and record it with the local county recorder’s office, sign any home loan documents, set a closing date, and pay the remaining purchase balance, including fees and taxes.
Fees and taxes in the USA
- Property transfer tax varies by state, ranging from 0% to 4% of the purchase price.
- Title insurance varies based on property location, purchase price, and the extent of coverage, but it is typically 0.5% to 1% of the purchase price.
- Attorney and legal fees usually range from $500 to $2,000, depending on the state, and are split between the buyer and seller.
- Escrow fees are roughly 1% of the purchase price.
- Overseas buyers need to consider the Foreign Investment in Real Property Tax Act, a levy that requires foreign sellers to pay tax on gains from the sale of US real estate. The buyer is typically responsible for withholding the tax, usually 15%, and sending it to the IRS.
Latest properties in the United States of America
838 N Doheny Dr Unit: 1001, West Hollywood, CA, 90069, US
Apartment, 0.53 acres
6435 Zumirez Dr Unit: 8, Malibu, CA, 90265, US
Apartment, 3.26 acres
8754 Arlene Terrace, Los Angeles, CA, 90046, US
House, 7143 sqft
1250 N Harper Ave Unit: 411, Los Angeles, CA, 90046, US
Apartment, 0.7 acres
642 Perugia Way, Los Angeles, CA, 90077, US
House, 0.97 acres
6250 Hollywood Blvd Unit: 6K, Los Angeles, CA, 90028, US
Apartment, 4.51 acres
214 S Venice Blvd, Venice, CA, 90291, US
House, 4337 sqft
330 N Arden Blvd, Los Angeles, CA, 90004, US
House, 10518 sqft
3835 Fairway Ave, Studio City, CA, 91604, US
House, 0.27 acres
10965 Wrightwood Ln, Studio City, CA, 91604, US
House, 8927 sqft
10727 Wilshire Blvd Unit: 1805, Los Angeles, CA, 90024, US
Apartment, 0.87 acres
24548 Malibu Rd, Malibu, CA, 90265, US
House, 7147 sqft
5186 Gloria Ave, Encino, CA, 91436, US
House, 8528 sqft
2600 Topanga Skyline Dr, Topanga, CA, 90290, US
House, 0.56 acres
10790 Bellagio Rd, Los Angeles , CA, 90077, United States
Other, 54146 sqft
652 Chautauqua Blvd, Pacific Palisades, CA, 90272, US
House, 1.37 acres
196 S Greenfield Ave, Los Angeles, CA, 90049, US
House, 10630 sqft
13146 Rivers Rd, Los Angeles, CA, 90049, US
House, 3.5 acres
13044 Sky Valley Rd, Los Angeles, CA, 90049, US
House, 0.42 acres
2600 Mandeville Canyon Rd, Los Angeles, CA, 90049, US
House, 1.23 acres
