America Property Source facilitates the purchase transaction process for our clients. As an American buyers agency, we will help Australian investors enter the real estate market safely with cash-flow positive outcomes.
Here’s how the property transaction process works:
- Once the client signs a purchase contract, America Property Source ensures that the USA real estate agent and title company receive it.
- In America, settlement is called closing.
- In the USA a title company licensed by the state acts as an independent third party to the transaction between the buyer and seller.
- The down-payment/deposit is transferred to and held in the title company’s escrow account. An escrow account is similar to a trust account in Australia.
- America Property Source will check that your AFEX transfer deposit has been received in escrow.
- The title company will issue a title insurance policy for each property.
- America Property Source will engage the appropriate insurance agent and provide the client with a quote.
- America Property Source works with the client to determine the best way to pay insurance.
- America Property Source will follow up with the client to ensure the appointed American real estate company’s paperwork has been received.
- Any American real estate start-up fee is invoiced to the title company for one streamlined payment when possible.
- America Property Source will liaise with the contractors required to perform any work prior to tenancy.
- America Property Source will liaise with the client and the bank if financing is required. An approved notary service is required for all financed properties.
- America Property Source ensures the final closing documents are delivered to the client and returned to the title company on time.
- The title company is able to distribute payments to vendors such as the insurance company on your behalf so that you only have to send one final transfer to the USA.
- America Property Source will liaise with the client and AFEX to make sure that the final closing payment is transferred on time.
We will source houses for sale in America depending on the identified price point and your “position to buy”. Once this has been established, the transaction process is part of our American real estate buying service. Please contact us for questions about the real estate market in the USA.