Detroit Property
Investment Summary
- 4 Bed Houses from £28,000
- Net Rental Yields up to 19%
- Property investment opportunities at well below market value
- Government backed assured rental under the US HUD programme
- In many cases tenant already in place
- Non leveraged investment
- Also qualifies for the private rental market
- Freehold, Debt free title deeds
- Hands off, managed investment.
- Strong rental market in the region
- High income-to-price ratio
- Well Established Management Partner
Closing costs and process
The title company will give you exact figures on closing costs, including outstanding property tax within 24 HOURS before deposit is paid, so you will have your exact closing costs report. $360 – (conveyancy fees) Title company closing costs including title insurance The title company carries out same function as your UK solicitor during conveyancy process:
- They check title is clean of debt or mortgages etc
- They make sure monies are dispersed appropriately (All payments for your property are paid in the Title companies Escrow account directly)
- The title company is governed under Federal law in USA.
- The title company arranges differences in property tax
(Property tax is like council tax covers rubbish disposal, road maintenance, street lighting etc. Property tax is paid in July and December. So full amount is paid in two parts for the year.)
Payment
- $5,000 deposit (to title company escrow account) – This will reserve property and reserve it in your name.
- Balance on completion to the escrow account of the title company.
- Title Company will confirm receipt of funds directly with you.
- Completion can be between 5 working days and 14 days, it is a very simple and straight forward, clear process.
- At completion Title Company will email you an ‘Official closing statement’
- At completion you will sign ‘closing statement and contract, these come in one pack called ‘closing pack’
- You will then scan and email the signed pages back to the title company.
- You will be sent fully signed title deed in post for your files and records.
- At this stage our management team will contact you.
