Indochina International Investment & Appraisal Joint Stock Company (INA) is the first international real estate appraiser in Vietnam, serving all clients living and working in Vietnam. Men, as well as in countries with linked offices. If youve just come to the US but want to buy a home and dont know where to start, the following tips will help you get the right direction.
Steps to real estate valuation when buying a US settlement
1. DETERMINING WHERE TO BUY THE
first question in the process of buying a home in the US is to determine where to buy a home. Depending on the geographical location, the cost of the houses varies. The reason for that price difference comes from the difference in the frequency of different services for the needs of life and the development of that area.
If you have a good financial balance, you can consider buying houses in big cities, with a pleasant climate, developed economy, modernity and many beautiful scenes like Los Angeles, San Francisco, Hawaii, .. If you want to buy a home to serve your childrens learning needs, you can choose to buy a home in California, Washington, Texas, Oregon, etc. These are all places where many prestigious schools in the US are located.
2. ESTABLISH A BUDGET BUYING BUDGET
Once you have determined where to buy a home, the next thing you need to prepare is to set up a reasonable payment and accumulation budget. To be able to fully buy houses in the US, you must be approved to lend by banks. They will look at their monthly income before agreeing to a loan. In particular, all types of home payments in the US must be below 36% of your total income.
3. CONSIDER MONEY LINE
You must prepare a deposit for expenses and sign a contract. To buy a house in the US, at least with installment payments, you have to pay 20% of the real value of the house upfront. In case of permanent residence, you will be accepted for a larger loan at the bank. Especially if you meet the conditions you will only pay 3% of the value of the house in advance.
However, there is a note when buying mortgage in the US. For payments of less than 20% you will incur an additional cost of private mortgage insurance in case you cannot afford it.
You must consider your ability to pay for contracting fees. That contract fee includes 5 types of fees. These are appraisal fees, attorney fees, test fees, loan fees and title search costs.
4. FIND A REPUTABLE REAL ESTATE BROKER
US immigrant purchases are almost made through a certain dealer. So when buying a home, to avoid the case of fraud, avoid unnecessary cumbersome procedures you should choose a reputable real estate broker help find the home.
Finding a reputable broker will make the buying process easier
5. CHOOSING AND REVIEWING YOUR HOME THOROUGHLY
Before choosing home there will be a lot of factors to consider. How your familys earnings, the wishes, and the familys living level. Besides, you should pay attention to places with a reputable school. Buying a house in the US near the school system will help the value of the House be more advanced.
6. A THOROUGH AGREEMENT BEFORE BUYING A HOME IN USA
Once you have found your home, you need to negotiate with your dealer or broker to get a reasonable home purchase price. After the two sides agreed on the price, the sellers agent was obliged to propose and then go to sign the contract.
7. UPON RECEIPT OF THE CONTRACT
Considering the terms of the US House purchase contract will help you have the necessary knowledge to meet before buying a home. Do you need to make sure the terms like the house are broken? Are the benefits of contract liquidity guaranteed? What is a form of payment. Consider the terms that violate not to have the appropriate solutions.
Before purchasing you have to spend a charitable deposit for the seller. In case the contract of purchase fails you will get back that amount.
8. LOAN GUARANTEES
In order to protect the benefits of your payment, you must consider the loan guarantee intervals and decide on interest rates such as fixed interest rates and mortgage rates. Most home sellers will ask you to prepare home insurance in the position before accepting the loan.
9. HIRING INDIVIDUAL APPRAISAL
You need to hire an appraisal in addition to the evaluation of the mortgage borrower. It will typically take more than two hours and cost around $800 to $1500. Hiring a private appraisal will help you assess the condition of the house where repairs are needed. From there you can more thoroughly agree with the seller.
10. CONCLUSION OF THE CONTRACT
After the agreement of the contract clause and come to the final decision you will be notified by the Bank of the loan. A list of expenses must be covered. …
If there is a need to value real estate when buying a residence in the US, contact Indochina Investment & Appraisal Corporation (INA). One of the leading companies in appraisal and settlement investment consultancy, real estate investment consultancy is trusted and selected by many customers.
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