BUYING PROPERTIES IN THE USA FROM A DISTANCE FROM THE COMFORT OF YOUR HOME
Once you have chosen an investment property and you wish to proceed with a purchase the process will follow these simple steps;
1. You will be sent a purchase agreement which you have to sign and return by email, this is a nonbinding agreement and only designed to get the process underway (copy below).
2. You will be asked to send $2,000 holding deposit to the attorney’s client’s account the co-ordinates are in the purchase agreement ( sample agreement supplied on request); these funds are held in your name and are used to put the seller under contract so they cannot sell elsewhere.
3. We arrange for an independent Home inspection/survey to take place on the property, this covers all the major aspects of the property Foundation, Electrics, Plumbing, Furnaces, Roof ECT, you will be sent the report for your approval.
4. If you do not approve the report we will find you an alternative property or return your $2,000 deposit immediately without question, in this case all you lose is the cost of the wire transfers. This is our "get out" clause if a client changes their mind and do not wish to proceed they can back out of the purchase without penalty at this stage.
5. If you approve the report and wish to proceed the sale becomes binding and it is put in the hands of the attorney.
6. The attorney will send you a limited power of attorney which you have to sign and have notarized, you have to return this to the attorneys office by email with a hard copy in the post this, gives your authorization for the attorney to represent you in the purchase of your investment property the law firm is fully regulated by the New York State Bar, have thirty years experience as practicing attorney’s and are fully insured so you are protected every step of the way, (it is the attorney’s responsibility to ensure that everything is legally in order with the property.)
7. It is the sellers responsibility to provide all the legal documentation for the property for the attorney’s approval when the attorney is satisfied that everything is in order and about a week before he is ready to complete the purchase, you will be asked to send over the funds to complete the transaction less the $2,000 already sent, you send this to the attorneys clients account.
8. Once the funds are received the attorney sets a closing date with the seller’s attorney.
9. At the closing the attorney signs everything on your behalf and the sale and Deeds are recorded in your name or names of your choice.
10. The day you complete on your purchase Pete Rushford of A&M Properties the property management company - details on the website, will send you a property management agreement to sign, he will pick up the keys to your property and starts providing a complete management service collecting rent on your behalf and paying it to you as instructed, paying bills, providing property maintenance, finding new tenants if needed ETC, this is truly an armchair service.
11. About six weeks later you will receive from the attorney’s office the Deeds to your property; these can be kept in the attorney’s office for safe keeping if required.
NOTES;
· N.B. Bank short-sales will take longer to close as the sale has to be agreed upon by the bank which causes delays, and bank owned/repossessed properties can follow a slightly different procedure.
· You can put the property in which ever name you choose and have as many names on the deeds as you wish, anyone on the deed has to sign the limited power of attorney so this can be done at closing.
Payment of the income from your investment property
There are several ways to receive your income from your investment property in Syracuse USA, you can open up a bank account with a local branch of CITI Bank if accessible in your area then send the paying in book to the property manager who will pay your income directly in to your account through the branch of the CITI Bank in Syracuse alternatively, they can send you a cheque or arrange a bank wire transfer to a bank of your choice anywhere in the world, you can also keep the funds in your "live" account that you will have on the property management website and withdraw them at your leisure. The alternative and we think the simplest way is to open a Paypal account and then the property management company can transfer your funds to this account and you can upload these funds to the bank account that you have registered with this account to find out more about opening a Paypal account go to www.paypal.com.
click here to go to the & PayPal website
