Buying a home in the US online end-to-end
Do you want to buy a home in the United States while you live abroad? Here are simple steps to realize your dream.
If you are a foreign national living abroad, you can still purchase a home in the US. For most people, this is the easiest and most common way to buy a home in the US. Kredium offers cheaper, convenient, cost-effective, and better home mortgages than you would be able to get by visiting your bank or lending institution in the US.
You don’t have to be aerophobic before you minimize intercontinental traveling. Today, we’ve got many reasons to stay at home. But whatever limits you from traveling to the United States shouldn’t stop you from being a homeowner in God’s own country. If you live outside the US and you have found a house you love so much in the country, you may not have to travel a long journey to buy. You can always buy remotely. How can you do that, and what guarantee do you have that you will still get the same value as when you travel down to buy? This article discusses this and more, but first, let’s look at the reasons you may want to buy a home in the US remotely.
Why buy a home in the US from abroad?
Even before the pandemic, people have been buying properties without a physical visit. You may choose to buy your second home in the United States for holiday purposes. So, it must be bought before the holiday. You won’t want to make two journeys here, will you? Also, if you are buying a home for another person, maybe a friend, your parents, or your child, a physical visit may not be necessary. This is more especially if you are not living close to where the home and the person you want to buy the property for is living.
If you are into the real estate business, your target is to make profits. Hence all you will be concerned about is the cost of the house and what you will earn from rental. As long as your calculation shows that it is a good deal, you can go ahead from wherever you live. It is your money that needs to get to the United States, not necessarily you. Other reasons may include government restriction on traveling, difficulty getting a visa, tight schedule, and other personal reasons. Now let’s look at what to do if you want to buy a home in the US while you live abroad.
How to buy a home in the US from anywhere
If you are thinking of buying a home online in the US without having to visit the States, here are the steps you must follow:
1. Decide what you want
The best thing is to be sure of precisely what you want. Your reason for buying the house will determine the kind of property to buy and the kind of agent to look for. Are you a real estate investor who wants to buy a home as an investment, or are you looking for a holiday abode? Decide first, and then you can take a step further.
2. Search for an agent
Once you have decided the kind of property you want, the next step is to search for a real estate agent. However, if you are buying a home remotely, you must choose a reliable agent. Therefore, you must ensure that the agent you work with is duly registered with the appropriate authority and has a good track record. You should also check the online review of the agent’s previous clients or get a friend or associate to recommend a reliable agent for you. It will be better if your realtor also has good knowledge and experience in buying homes remotely. Therefore, do not hesitate to ask your agent to share their previous experience in remote home sales before starting a business with them.
3. Search for your preferred property
You have to take action and go online to search through different listings. Luckily, searching remotely for properties to buy is easier now than ever before. You can search, view, attend virtual tours and inspections from any part of the world. As you search, also let your agent know what you want so he can as well search for you.
Here are some reputable websites to search for property or real estate:
4. Take action
Once you see what you like, let your agent know so that you can take action. The first thing you need to do is find out the kind of market you are dealing with. In a buyer’s market, there are more properties to sell than the number of buyers. Hence, buyers have an advantage. If you are in such a market, also take advantage. You can take your time to study the market. Search deeper and ensure you go for the very best. However, in a seller’s market, there are more buyers than the available properties. Hence, in such markets, you must act fast. If you delay, someone else can take your chosen property. Make an offer and let your agent handle the bulk of the paperwork. Luckily almost all paperwork can be done online today, including e-signing.
5. Closing
Once you are satisfied with everything, you can close the deal. But first, before you buy a home remotely, be sure you have inspected the property, made the best negotiation, and finalized all paperwork. If there are documents that you need to send physically, you can send them through courier services. Otherwise, digital documents, including digital signatures, may be acceptable. Your agent must also have supplied all the needed documents, and all parties involved should be satisfied. The last part is for you to transfer the money and close the deal.
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What if money is an issue?
The majority of homebuyers in the United States do not make full payment for the house. Home mortgages are available to many Americans. But can someone outside the United States get a home mortgage from an American financial institution?
Can you get a home mortgage without being in the US?
The simple answer is yes. Even though many lenders are reluctant to provide home loans to people who are not residing in the United States, financial houses like Kredium are willing to help you actualize your dream.
One of the major factors in securing a home mortgage in the United States is your residency. If you are a permanent resident of the United States, a green card holder, or a valid Visa holder, banks will be more willing to provide a loan for you to buy a property. However, even without all that, you can still get a mortgage. The requirement for a home mortgage varies in different states. However, lenders will want you to convince them that you can repay. They usually measure this by your credit record. Unfortunately, you can only have that record if you have had a previous deal with an American bank or an international bank. Without that, you may need the assistance of a mortgage expert to help you out.
How we can help
At Kredium, we specialize in providing mortgages to people who want to buy properties in the United States. These include foreign nationals living outside the US. We provide loans to buy all kinds of homes, including real estate. Whether you have had a business transaction with an American bank before or not, we can help you secure an online mortgage easily. Our professional agents will identify other ways to evaluate your creditworthiness and decide if you qualify for a US home mortgage. If you qualify, you don’t have to travel to the country before we facilitate the loan. Contact us today for more information, and we will be glad to help you get that home in the US while you are abroad.
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