Understand How the U.S. Real Estate Market Works

Before starting the purchase, it is important to know how the American real estate market works. The sector is highly regulated and benefits from transparency and access to information, but the rules can vary significantly between states.

Main differences compared to Latin America:

• In the U.S., most property purchases are brokered by licensed realtors, who represent the buyer, the seller, or both parties.

• The buying process involves a credit analysis for those seeking financing.

• Extra costs like taxes and insurance can catch foreign buyers by surprise.

  

Rely on the Support of a Competent Professional

In the United States, it is essential to work with a qualified real estate agent (also called a realtor). Find a professional who speaks your language and has experience with Latino or foreign clients.

An experienced realtor can help you identify properties that suit your budget and needs. In addition to negotiating the best price and purchase conditions, they will guide you on the necessary documentation and the legal process.

Look for realtors with certifications like Realtor® who are well-versed in the region where you plan to buy.

Check Your Budget and Payment Methods

One of the most common mistakes among Latino buyers is not planning the complete budget, including costs beyond the property price.

To avoid surprises, consider the following factors:

• Initial expenses: Minimum down payment (generally 20% of the property value, except for special financing).

• Closing Costs: Include legal fees, taxes, and insurance. They represent, on average, 2% to 5% of the property price.

• Property Tax: These taxes are charged annually and can vary greatly depending on the state and county.

  
  

Required Documentation for Foreigners

If you are a Latino and do not yet have U.S. citizenship or residency, you can buy a property, but you will need to pay extra attention to the required documentation.

Some important items include:

• Valid passport.

• Individual Taxpayer Identification Number (ITIN): Necessary to declare income and pay taxes.

• Proof of funds: Financial institutions may require proof of income or a U.S. bank account.

  
  

Although foreigners can finance properties in the U.S., credit criteria are more rigorous. If you choose to pay in cash, avoid suspicious bank movements, as this can lead to investigations.

Choose the Location Wisely

The location of the property is one of the most important factors in the purchase, especially in a market as diverse as the American one. Each state, city, or neighborhood offers unique characteristics, from lifestyles to tax policies.

Some factors to consider:

• Cost of living: States like Florida have a more accessible cost of living, ideal for Latino families. A special tip: check out cities like Marion Oaks, Ocala, Winter Garden, Windermere, Citrus Springs, and Clermont.

• Proximity to schools and public transportation: Crucial for those who plan to live with their family.

• Appreciation potential: Areas like Miami, Orlando, and Ocala have shown continuous growth in the real estate market.

  
  

Do a thorough research on the property's location, checking aspects like safety, infrastructure, and appreciation potential.

Pay Close Attention to the Purchase Agreement

U.S. real estate purchase agreements can be extensive and full of details. Since they are written in English, it is essential to have a certified translation or ask your realtor for help.

Pay attention to:

• Clauses about penalties in case of withdrawal.

• Deadlines for the earnest money payment and contract closing.

• Seller's guarantees, such as a property inspection before the purchase.

  
  

Never sign anything without carefully reviewing each point and, if necessary, seek legal support from a lawyer experienced in the American market.

Ready to take the next step? Contact our U.S. real estate specialists for personalized support and turn your buying experience into something practical, safe, and rewarding.