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US2.1ÌýÌýÌýÌý Purchasing property in the United States

Contributed by: Tonya S James, Partner at Vacovec, Mayotte and Singer LLP

This article will provide a summary of tax and other planning considerations when purchasing real property in the United States. The article will provide general information, however, the specific details related to the purchasing of real estate differ according to the US state in which the property is being purchased.

US2.1.1ÌýÌýÌýÌý Process for property purchase

When purchasing real estate in the United States, the time required to purchase the property will vary, depending on the following:

1. Ìý

   •ÌýÌýÌýÌý ability to locate a desired property

2. Ìý

   •ÌýÌýÌýÌý timing needs of the buyer and seller

3. Ìý

   •ÌýÌýÌýÌý the type of financing that will be used by the buyer

Obtaining the services of a real estate agent

When purchasing a property in the United States a majority of buyers find it helpful to use the services of a real estate agent to assist them in the purchasing process, including negotiation of the purchase