Nowadays, purchasing any type of real estate in other countries is not only a way to pay tribute to the powerful trend of all modern trends, but also a very profitable investment. We can even say more — sometimes purchasing comfortable, spacious and large real estate abroad costs less than buying less attractive housing in domestic real estate markets.
The geographical choice of purchasing real estate abroad is determined not only by the personal sympathies and preferences of the investor, but also by financial capabilities. People who are interested in buying property abroad, but with relatively average incomes, limit themselves to purchases in Bulgaria, where prices, even for large plots of land, vary within reasonable limits.
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The buyer who does not limit himself financially, is a more demanding client. Purchases in Cyprus, in the picturesque areas of Italy and Switzerland are very popular; people who are sophisticated in these matters and want to hide from prying eyes generally resort to buying small islands, especially this characteristic trend can be seen in the Caribbean.
However, true gourmets of this complex sphere prefer to acquire real estate in the USA. One of the most popular destinations in the «land of opportunity» is the largest metropolis in the world — New York.
So, if you intend to purchase an apartment in New York, you first need to find out the legal basis for such a purchase. In this matter, everything is quite simple — American law does not place any obstacles to the purchase of real estate by foreigners — this applies not only to residential, but also to a wide variety of commercial real estate. In addition, one important step, of course, is to find a reliable and honest real estate agent who will help you with your potential home buying transaction from start to finish.
After that, you are ready to enter the real estate market of modern New York in order to find the most suitable option for you. It should be said that, despite all the prestige of Manhattan and Brooklyn, you cannot count on the fact that in lesser-known areas, the cost of housing will be significantly lower. Of course, as for Manhattan, the prices on the primary housing market here start from 1 million, and the situation with secondary housing is not much better. The same situation can be observed in Brooklyn, and even on Long Island and Queens. Therefore, if you want to find comfortable housing, but at the same time, the price of which will not exceed your initial expectations, you will have to stock up on considerable patience.
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Ultimately, if a successful combination of circumstances occurs and you find the most suitable option for purchasing a home, your affairs on this issue should be transferred to the full responsibility of your real estate agent. The procedure for purchasing a home, including all legal formalities, takes about a month. After receiving the consent of the parties, the realtor prepares a purchase and sale agreement. This agreement is signed only in the presence of the buyer's agent. Immediately after signing, the contract undergoes several more quality checks, and the legal registration of the purchased property is also checked. By the way, it is also important to mention that when concluding a sale transaction, the agent is entitled to an amount of about 5% of the amount of the property.
However, let's not talk only about buying a home. If you are planning to rent an apartment in New York, then the right decision would again be to contact a realtor, whose services in this matter will amount to about 15% of the monthly rent. Renting an apartment in New York is also not cheap. One of the most prosperous areas of the city, Brooklyn, can offer you an apartment for rent for no less than 3,000 USD. per month, for an area of 50 square meters.
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When signing a lease agreement, you should know that the rates do not change throughout the entire term of the agreement, it is also necessary to mention that the agreement is often concluded for a period of 1 year. At the same time, in case of violation of the main terms of the agreement by one of the parties to the transaction, the parties to the agreement have the full right to material compensation, or to defend all their legal rights in court. Also, according to American law, traditional measures are in effect that are designed to combat discrimination based on gender, age, and religion. In case of refusal to provide a lease for one of these reasons, or due to racial discrimination, the landlord is subject to criminal liability.
In general, summing up, it should be noted that the purchase of housing in New York, in addition to the fact that it will be a successful investment, in itself should pass without serious obstacles. Cases of fraud in the housing market in the United States are rare, in this regard, the quality services of a realtor should not raise any doubts in you. If you are really determined to buy real estate abroad, then, of course, New York, in this regard, is one of the most attractive options, both in terms of the prestige and grandeur of the metropolis itself, and as a result of the rather simple procedures for acquiring rights to housing, in comparison with other countries.
