Foreign buyers face no taxes or consequences when buying property in the United States and can often double or triple their investments by either holding on to the investment to use as a second home or for rental purposes. “The U.S. real estate market has experienced an incredible recovery mode and cash buyers are more typical these days, then financed purchases.” Says Jacqueline Salcines, Esq., a real estate attorney, accountant and realtor. “Performing closings day in and day out, not only for regular properties, but distressed and short sale properties as well, the typical buyer these days is a foreigner with cash.”
A real estate lawyer in the United States and Florida handles many aspects of the transaction for the foreign buyer. From preparing and overseeing the Contract for Sale and Purchase, to examining title and attending the closing, a foreign buyer should not go it alone. With so many properties still in foreclosure, the real estate market can be daunting. A property’s title can be filled with many claims that the potential foreign buyer is not aware of. Only by preparing a full examination of the title and title insurance, is the foreign buyer protected.
At the Law Offices of Jacqueline Salcines, P.A. we represent borrowers and homeowners with all of their real estate and mortgage needs. From initial applications and searching for programs for their mortgage needs, to working closely with the borrower and lender to obtain the full amount required, we are there every step of the way. Attorney Jacqueline Salcines, Esq. personally handles all her own closings and is at the closing table with you, the borrower, to explain all documents requiring signature. This includes signing of the mortgage, promissory note, truth in lending and all disclosures.
TYPE OF ENTITY FOR THE PURCHASE
As both an accountant and business lawyer, Jacqueline Salcines, PA has knowledge of what is the best structure for your purchase. Should a foreigner purchase in their individual capacity, or form an LLC (limited liability company)? Federal corporate tax rates can be high and there is no capital gains treatment for C corporations. So knowing the best entity to make the purchase before you enter into a contract is smart business practice.
The Law Offices of Jacqueline Salcines, P.A. is a full service real estate law firm offering real estate, title, mortgage and escrow services.
Contact us today. No office visit is required and the phone consultation is 100% free of charge. Call and speak to attorney Jacqueline A. Salcines, Esq. Today!
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Jacqueline A. Salcines