Have you visited the fabulous and vast ranches in the USA during your trip? Be it for livestock herding, agricultural produce, recreational activities, or building farmhouses, ranches are versatile. Many people have an interest in buying farmland, but these lands are not present in every place.
You can find some of the large and decent ranches in the United States of America. Do you want to buy the property but do not know if it is possible for foreigners to purchase it? In that case, keep reading this post to find the answer.
Buying A Ranch In The USA As A Non-US Citizen
It is not a big problem for foreigners to acquire a ranch in the USA. In order to be able to buy farmland, they do not have to get a green card, a specific kind of visa, or US citizenship. Regardless of whether you are a foreigner or a permanent citizen of the USA, you can buy any kind of property.
There are no rules or conditions which can deter the foreign individual from acquiring a ranch in the USA. However, keep in mind that some states have different laws about taxes which the foreigners have to pay when they purchase a ranch.
According to the data from the National Association of Realtors (NAR), non-US citizens bought property worth $74 billion between April 2019 to March 2022. In addition to that, this total value was $153 billion alone in 2017. Out of them, 60% of foreign investors are new migrants or visa holders in the USA. Meanwhile, the remaining 40% of people are still non-US buyers.
How A Non-US Citizen Can Buy A Ranch In The USA
Are you looking for ranches online but do not know whether they are real or not? In that case, you can get in touch with experts at Harrigan Land. It provides information about the best ranches and has about 30 years of experience. Here is a step-by-step guide about purchasing farmland in the USA as a non-US citizen. Make sure to read them thoroughly, which will make it easy for you to understand the entire scenario.
1. Decide The Area You Want To Purchase The Ranch
As there are ranches in different parts of the western states of the USA, it is necessary for you to finalize where you want to buy the land. There are ranches spread on thousands of acres of land, while some are relatively small. It is better to determine why you plan to buy that farmland, so you can choose a ranch without much difficulty.
2. Choose A Real Estate Ranch Broker
Getting help from brokers who are skilled in handling ranch purchase transactions of foreigners is beneficial. You can search for them online, have a look at the ratings, different user experiences, and many more. In addition to that, you can compare two or three top real estate agents and hire the best one among them. Be careful while selecting them because sometimes they will ask for high fees. Plus, be aware of fraud and do not make an early payment.
3. Begin The Ranch Search Procedure With The Real Estate Broker
After you choose a specific real estate agent, you have to confirm the ranch you would like to buy. If you have more than one choice in your mind, make sure to share it with the broker, as the agent may be able to help you out. As brokers have prior experience, sometimes they can suggest great ideas. After finalizing the dream ranch with the broker, you have to make an offer on it so that you can acquire it as soon as possible.
4. Conduct A Ranch Inspection
When you are done with making the offer, it is time to visit the place and inspect the area by yourself. Exploring the ranch before buying can give you a clear outline of whether it is worth buying or not. Sometimes, if there are any loopholes with the land, you can find them during the inspection rounds. Hence, do not skip the inspection part and never directly buy the ranch.
5. Approve Purchase Agreement With The Seller
After the inspection, if you would like to buy the ranch, you have to sign the agreement with the seller. These documents will bring you to the final transaction. They contain the rate and other conditions, which you may have discussed before. Make sure to check the information in each and every paper while signing on it.
6. Get Ownership Of The Ranch
When you finish signing the documents and making the total payment for the ranch, you will get full ownership. Thus, you bought your dream ranch, and if you want, you can also build some structures, be it sheds for animals, space for recreational activities, simple playthings, and many more.
Do Non-US Citizen Buyers Need To Pay Additional Stamp Duties?
No. Whether you are a local person or a foreigner, if you would like to buy land in the USA, there is no need to pay additional stamp duties. However, it is not the same everywhere because some other countries subject 7% to 30% extra tax on non-residents buyers. The United States of America will not levy any excess fees on foreigners when they buy ranches in the country.
In addition to that, several foreigners acquire residential properties and leisure buildings in the USA. Plus, you can find plenty of non-US citizens who currently have a lot of investments in that country. They own ranches, multi-unit apartments, agricultural lands, condominiums, business buildings, and many more.
Now you know that it is possible for a non-US citizen to buy a ranch in the USA. Thus, check different types of available lands across all the states And compare them with each other, which makes it easy for you to select the best property. At last, finalize the ranch, which you want to buy, and have a talk about the price and conclude the deal.