Relocating from outside the United States (U.S.) to Maryland
Relocating from outside the United States to Maryland: International Relocation to Maryland from another country poses some unique challenges that are outlined below. Skip this section if your relocation is within the United States. Otherwise, consider the following:
Should We Rent or Buy?
What are the tax consequences specific to us?
Who do we consult with about taxes?
What are the legal considerations about owning property in the U.S?
Do we need to consult an attorney?
Which local attorney handles these matters?
What would be the cost of legal advice?
What about the cost of living in the U.S?
Should we ship your household goods or sell them and purchase new in the U.S?
What is the cost of purchasing a used automobile?
What are the costs associated with operating a vehicle in the U.S?
How does a grocery list from your home country, translated from kilos to pounds for example, compare in price and factoring in exchange rates?
What do appliances cost in U.S. dollars?
Will my family be happy in this community?
Look at schools within the community to see how the children would fit in with existing curriculum and school environment.
Visit schools and talk with faculty and administrators.
What about timing your move? Do you need a short term rental? Should you send your family ahead or will you precede them and they will follow?
How long will it take to process your work Visa and how will your relocation schedule would fit with that timetable.
Money Exchange. Current money exchange information is available at this website.
Your Realtor delivers the Offer to Purchase to the Seller's real estate agent or the Seller in the case of HUD, VA or a For Sale By Owner (FSBO) and coordinates the negotiation with and on behalf of the Buyer.
Counter-offers made by the Seller may be returned to you if your offer was not exactly what the Seller wanted. Remember, the Seller is probably a nice person but use your Realtor to do your negotiating. If you are not skilled innegotiating an offer to purchase, you may give away money and/or concessions that you might not have had to if only you had let your Buyer's Agent do the negotiating. If you get a counter-offer, review the counter-offer and accept it, counter their counter-offer or reject it and look for another home.
The Realtor will deliver copies of the ratified contract to the Home Buyer, the Buyer's lender and title company that had been selected earlier.
The Home Buyer makes loan application with their selected lender, ensuring that the lender understands the financial game plan, the contingency(ies) used in the contract and pays the lender's fees for an appraisal and full mortgage credit report.
The Realtor, if asked by the Buyer, will schedule all of the appointments on the Home Buyer's behalf with the selected home inspector, pest inspection vendors and any other inspectors desired by Buyer.
The Buyer's Agent will meet with the Home Buyer at the property to conduct the inspections.
The Home Buyer will coordinate with the selected insurance agent to obtain a home owner's home insurance policy for coverage required by the Home Buyer's lender no later than 10 days prior to closing.
The Realtor shall conduct a walkthrough of the home with the Buyer on the day before or the day of settlement ensuring that the home is in the same condition as when originally contracted. Unrepaired damage in the home sustained in the moving process by the Seller or from other causes can be an issue requiring further negotiation. Ensure that all the appliances are still working and that everything is in order as expected.
The Home Buyer will be required to obtain a check for certified funds or cashier's check for the balance of funds required for closing. The personal check for any funds owed by the Home Buyer at settlement will not usually be accepted by the settlement agent.
The Buyer's Agent, Buyer, Seller and Seller's Realtor shall attend Settlement: This is the final step. All fees are calculated, accounts adjusted and credit/debits documented on the Housing and Urban Development Settlement Sheet also known as the"HUD-1." All invoices from the different vendors, the lender and title company are signed and officially executed. The outstanding balance of funds as "Cash Due From Buyer" is to be paid by the Home Buyer at closing. The title company shall refund any monies due the Home Buyer should the Home Buyer provides an amount greater than that owed.
Final Thought: Always remember that the Contract of Sale is the written document which expresses the "meeting of the minds" between the Home Buyer and the Seller. If you are not sure about any phase of the process ask your Realtor. Your Realtor is your guide, source of knowledge and expertise whose sole purpose is to make your home buying experience as comfortable, knowledgeable and enriching as possible as you progress through what should be a wonderful experience in your life. GOOD LUCK!!