Features of buying an apartment in Miami to a mortgage

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Features of buying an apartment in Miami to a mortgage

Getting a loan to purchase an apartment in Miami is relatively easy even for non-residents of the United States. The bank can issue up to 70-80% of the total cost of housing. However, you should have the missing amount – 20-30 % of the price of an apartment in Miami.

The transaction is executed within a month: the buyer and the bank carry out all the checks. It is necessary to confirm that the property for the sale has no debts, deposits, etc.

When signing the contract, the buyer makes a down payment (part of the total price of an apartment in Miami), and after 10 days you need to make another 20 %, which is agreed by the participants of the sale.

The first payment is insurance. It is also called advance. This payment confirms the seriousness of your intentions. You clearly indicate that you’re gonna buy a property in Miami for sale. The remaining amount is paid on the day of closing the transaction.

Buying real estate in mortgages is carried out without any complications. The main thing is to choose the right housing, where you can live comfortably. One Sotheby’s International Realty will help you make the right choice. Just call +1 305 310 9305 to clarify any questions.

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