In the United States, property fees are collected by the property company.

Generally, the developer will set the property fee for an apartment for a year based on the budget for water, coal and electricity rates, staff salaries and benefits, and equipment maintenance, and then average the monthly payment for each unit.

The system, collection and use of condominium property fees in the U.S. is still very different from China. The U.S. government is not involved in the property fee system. It is only concerned with the state's revenue, so it only sets the tax rate for land purchases. Of course, some new buildings are tax deductible for a period of 10-15 years.

How are property fees charged for buying a home in the U.S.?

Property fees in the U.S. are set by the developer, but they are not set in stone.

Property fees for condominiums are calculated from the date of government approval and are generally valid for about 1 to 2 years, and will be adjusted in the future by the owner's committee based on the actual operation of the condominium.

The main task of the condo owners' committee is to supervise the management company and help owners save money. Not all properties in the US require property fees, it depends on the actual situation.

The main process of buying real estate in the United States

1. Make three preparations for buying a property.

Before buying a property in the U.S., make sure you have your money and passport ready.

Choose the right real estate agent or broker for you.

It is necessary to know the appropriate size of the purchase and type of property to determine the availability of housing.

In the United States, the buyer's real estate agent commission is paid by the seller.

2. Make an offer to view the property

If you cannot come to the U.S. in person because of something, you can appoint a real estate agent to show you the property.

The broker will conduct a thorough evaluation and investigation during the home inspection process. Once the property is confirmed, the broker can submit a price letter to the seller instead of the buyer.

Usually after a few bargaining sessions, the final closing price will be determined.

3. Signing and booking the home

The real estate agent or attorney will schedule a formal signing time. Prior to this, the broker or attorney will explain the specific terms of the real estate contract to the buyer, followed by a 10% down payment.

4. Inspection of the house and real estate handover.