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Property in America

Before buying a property in America, it is a good idea to spend time establishing yourself in the area you are looking to buy in. This means finding an area which suits your lifestyle, such as where the best schools are, if you need to use public transport, the prices of property and if you like the look and feel of the area.

Renting a property when you first arrive is a great idea, as it allows you enough time to research the perfect location for your new life in America. This time will also allow you to build up your credit rating in America which will help in the event you need financial assistance to purchase your home.

When buying a property, it is more than likely you will go through an estate agent. In America, estate agents are called realtors and they work on commission. For this reason it is a good idea to use several realtors, as this will mean you will be able to access to more properties and get the best value for your money.

Buying Property in America: Mortgages

When buying a property, it is likely you will have to source some form of financial loan. Obtaining a mortgage in America is similar to obtaining one in the United Kingdom, although applicants are required to provide among other identification a Social Security Number and an American credit score. In addition, those who do not have permanent residency are required to put down a higher deposit before being granted access to a mortgage.