Buying a home in the United States is an important financial management method for many new immigrants for overseas property ownership and global asset allocation. What issues should new immigrants pay attention to when buying a home in the United States? WorldWay will launch a series of special topics on the most detailed and comprehensive guide for new immigrants to buy homes in the United States for the reference of our new immigrant friends.
In this issue, we focus on—the preparatory stage for new immigrants buying a home in the United States. What exactly are the preparations required before buying a home in the United States? What questions should be clarified before buying a home? WorldWay immigration experts provide you with a detailed analysis as follows:
Documents required for cash buyers:
1. Valid passport and visa
2. Proof of funds for home purchase (deposit certificate in both Chinese and English from a domestic bank)
3. An account opened at a local bank in the United States
If you want to buy a home with cash, preparing the above three items is sufficient.
Documents required for loan buyers:
1. Valid passport and visa
2. Proof of employment and income (certificate issued by the employer or local authority, translated by a notary company)
3. Proof of funds for the down payment (deposit certificate in both Chinese and English from a bank)
4. An account opened at a local bank in the United States
Is it necessary to be present in person to buy a home in the United States?
Currently, about half of the banks accept this online signing method. As long as there is email access, you can sign regardless of where you are in the world. Theoretically, you can complete the process of buying a home in the United States without having to visit the country in person. However, it is better if the buyer can personally select the property during the viewing and selection process.
If the buyer is not on-site, they can also conduct non-site home purchase transactions through the following methods:
1. The buyer entrusts a local friend to view the property and makes a decision based on the information, pictures, and other materials provided by the friend; after the property is selected, the subsequent processes can be entrusted to a brokerage firm to complete;
2. The buyer entrusts a brokerage firm to execute the entire home purchase process. All documents related to the purchase are assisted by the agent and signed by the buyer through online signing or mailed to China via courier for the buyer's signature.
WorldWay U.S. immigration experts analyze that the U.S. economy is recovering strongly and has once again become the locomotive leading the world economy. With the U.S. dollar exchange rate about to enter a rapid upward channel, converting RMB assets into USD assets is undoubtedly an excellent way of asset allocation. In 2015, U.S. investment immigration will face many complex situations such as visa backlogs, potential increases in investment amounts, and the expiration of the Regional Center Program. At this time, the strong recovery of the U.S. economy highlights that the current stage can be called the golden period for applying for EB-5 investment immigration. For investors who intend to immigrate to the United States, choosing this period to apply for EB-5 investment immigration can not only actively respond to immigration backlogs and avoid uncertainties such as investment amount increases and the expiration of the Regional Center Program, but also enjoy the opportunity for overseas asset allocation.
WorldWay has launched two major projects that have been pre-approved by the U.S. Citizenship and Immigration Services: the New York Liberty Garden luxury apartment project and the Pennsylvania Highway project. The New York Liberty Garden luxury apartment project has a high net asset guarantee of 14.5 times, and the developer, Lightstone Group, is one of the largest and most successful unlisted comprehensive real estate developers in the United States. The founder of the developer provides a personal asset guarantee of 11.7 times. The Pennsylvania Highway project is a loan from the state government, with the state government promising repayment, making it a 100% U.S. government EB-5 project. The first phase was sold out in just two months. Currently, the second phase of the Pennsylvania Highway project has seen an even more enthusiastic buying situation than the first phase. Consultation hotline 400-138-2929
