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Ask the Expert: US Realtor

by Kijner & Sons International Realty



Kijner & Sons International Realty
is pleased to share a recent report from
World First, UK first foreign exchange broker offering currency exchange and international payments to private and corporate clients in the UK and abroad. Laura Kijner, international real estate specialist with KSI Realty in France and Thailand and, Florida Realtor® with Fortune International Realty in Miami, Florida is featured in their July 29th issue on investment and relocation to the U.S.  

To read the full article by David Trumper, see below:

If you’re thinking about moving to the US, you’ll be aware just how many considerations there are – the actual buying of the property is one of the last things you’ll have to sort out!

Florida Realtor Laura Kijner has helped lots of people in their move to the US, and in this edition of ‘Ask the expert’, she explains some of the things you need to consider. 

In the U.S., every state has different rules and regulations, so wherever you are looking to purchase a property, you should get the relevant information.

Investing or buying a vacation home abroad is quite different from actually moving and living overseas!  Usually, people that have successfully moved to the U.S. have conducted their due diligences – they’ve gone to visit, they know the area, maybe they’ve been there for ten years for a month every year. Moving to the U.S. can be a long process. A lot of people don’t realise that getting the proper visa or even a green card is not an easy task.

Ask yourself the right questions

Do you already have the proper structures in place to facilitate your move and the acquisition of a property? Do you have a U.S. bank account? Do you have all the necessary funds available for an investment? How about currency conversion? Are you a cash buyer? If you need a loan, it’s probably best to check with your financial institution at home since, as a foreigner, you are unlikely to have collateral or a credit history in the U.S. You need to be ready, willing and able! And to be so, takes preparation.

Get to know the place and its people

Make sure it’s right for you and your family. Adapting to a new culture and environment takes time. You need to see yourself working and living there for the foreseeable future. If you are moving with your kids, you will need to think about schools and later colleges. Even to run the simplest errand, you are most likely to drive your car around. Do you have a driving license? Are you fine with driving at least an hour a day? Make sure you find a property in a neighbourhood you like, that is safe and convenient, a place where you can easily commute to and from work.

Drive, walk around, check various neighbourhoods, talk to some agents, talk to fellow expats who have moved to the U.S. and who will give you honest feedbacks, talk to an attorney, a wealth manager and a CPA about what’s involved – it’s about just getting that information.

Many foreigners do not know that dual agency is illegal in Florida. A real estate licensee may enter into a brokerage relationship either as a transaction broker – offering limited representation – or as a single agent with prospective buyers and sellers.

See a house you like? Go for it, whoever you’re signed up with

In the U.S., all real estate agents, with no exception, have the same access to the available properties in their market with the exact same conditions. As members of the Miami Association of Realtors, we offer access to the MLS (Multiple Listing System). The MLS is a tool where, in the words of the National Association of Realtors, brokers share information on properties they have listed and invite other brokers to cooperate in their sale in exchange for compensation if they produce the buyer. Sellers benefit by increased exposure to their property. Buyers benefit because they can obtain information about all MLS-listed properties while working with only one broker. Thus, it doesn’t matter where you find your dream property. Even if it’s not listed with the company you signed up with, your real estate agent will call the other agent and they will cooperate with each other to ensure a successful transaction.

The purchase of the property is the last thing we would take care of. You’re not going to put your trousers on when you’ve already put on your socks and your shoes!

Do things in the right order. If you are not ready to take the plunge yet, you can always sign up for listing alert emails on a realtors’ website – like this one. By signing up to alerts like this, you’ll get a good picture of a place’s real estate market – in this case, Miami – from prices to inventory and you will be able to monitor the changes over time. What you see today might not be available 6 months for now when you are actually ready to buy. Be informed!

Finally, there are many costs associated with the acquisition of a property. These costs depend on your own project, the selected property and its location, laws of the State of Florida, of the County and the City as well as on professionals and/or other providers you are likely to select from Attorney to CPA (Certified Public Accountant). Some fees are negotiable, other not. Some are recurring, other not. Most people are first time investors with very little knowledge of the acquisition and relocation process in the U.S. As a consulting firm, we are here to help and we offer tailored packages for a fee for those in need of full assistance.

Laura Kijner works with Kijner & Sons International Realty, which specialises in investment opportunities and income producing properties in South Florida.

Source: http://www.worldfirst.com/uk/blog/property-2/ask-expert-us-realtor-2/

Looking to buy a condo or a home in Miami? Looking to relocate to or invest in Florida? Contact us today at info@kijner.com

Profile of International Home Buying Activity 2013

by Kijner & Sons International Realty


Kijner & Sons International Realty
 is pleased to share with you the latest report from the National Association of Realtors® (NAR), entitled "2013 Profile of International Home Buying Activity". This report is based on a survey conducted annually since 2007 to measure the level of sales of U.S. residential real estate to foreign nationals. It provides information on international homebuyers and their preferences through data gathered from Realtors®. In this report, the terms "international" referes to both: 

> Type A: Foreigners with permanent residences outside the US and who purchase real estate properties for investments, vacations or visit purposes (they remain less than 6 months in the US)

> Type B: Clients who are recent immigrants (less than two years in the U.S.) or temporary visa holders and who reside for more than 6 months in the US for professional or educational purposes or other reasons

It is interesting to note that international sales accounted for $68.2 billion from March 2012 to March 2013, approximately a 6.3% of the total U.S. existing homes sales (EHS) market of $1.08 trillion for the same period. To most international buyers, the U.S. is seen as a desirable location, a secure and profitable investment with Florida being in the top four states in terms of number of buyers. Leading the way, Canadians and Chinese are the main international homebuyers of U.S. properties. 

To download and read the full NAR report, click here or on the image below.



Looking to invest in or move to the Greater Miami or Sarasota area in Florida? Contact KSI Realty at info@kijner.com

Profile of International Home Buying Activity 2012

by Kijner & Sons International Realty

Kijner & Sons International Realty is pleased to share with you the latest report from the National Association of Realtors® (NAR), entitled "Profile of International Home Buying Activity 2012". This report is based on a survey conducted annually since 2007 where the terms "international" referes to both: 

> Foreigners with permanent residences outside the US and who purchase real estate properties for investments, vacations or visit purposes (they remain less than 6 months in the US)
> Clients who are recent immigrants or temporary visa holders and who reside for more than 6 months in the US for professional or educational purposes or other reasons

It is interesting to note that from March 2011 to March 2012, international buyers accounted for 4.8% of total US sales, an estimated $82.5 billion of the estimated $928.2 billion total US market sales.

To download and read the full NAR report, click on the image below.

 

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Sourcehttp://www.realtor.org:8119/sites/default/files/reports/2012/2012-profile-international-home-buying-activity-2012-06.pdf

Lender Checklist: What You Need for a Mortgage

by Kijner & Sons International Realty

If you are considering a mortgage in the US, here is a simple checklist of documents that might be required. 

□ W-2 forms — or business tax return forms if you're self-employed — for the last two or three years for every person signing the loan.

□ Copies of at least one pay stub for each person signing the loan.

□ Account numbers of all your credit cards and the amounts for any outstanding balances.

□ Copies of two to four months of bank or credit union statements for both checking and savings accounts.

□ Lender, loan number, and amount owed on other installment loans, such as student loans and car loans. 

□ Addresses where you’ve lived for the last five to seven years, with names of landlords if appropriate.

□ Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account. 

□ Copies of your most recent 401(k) or other retirement account statement. 

□ Documentation to verify additional income, such as child support or a pension.

□ Copies of personal tax forms for the last two to three years. 

For more information on houses for sale in Sarasota or Miami Florida, contact us at info@kijner.com

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Source: The National Association of Realtors® (NAR)

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83-85 Boulevard de Charonne, 75011 Paris, France


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