How to Evidence of my Home Assets, l-864 (merged topics)

[sinapp 0]

To follow these instructions "Supporting evidence must be attached to establish location, ownership, date of acquisition, and value", I would like to know which paper/document I should obtain exactly and how, in the case I am an expat in the country of Colombia who is sponsoring his Colombian spouse for immigration and not having income, but being owner of 2 homes... ? Thanks.

[Ontarkie 13,902]

~~Moved to IR1/CR1 P&P, from AOS FAmily K1/K3 P&P - as the OP is married and looking at starting the spousal visa~~

[JeanneAdil 6,190]

Page 9 of I 864 instructions- read it all

 

https://www.uscis.gov/sites/default/files/document/forms/i-864instr.pdf

 

Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included. The owner of the asset must include a description of the asset, proof of ownership, and the basis for the owner’s claim of its net cash value. You may include the net value of your home as an asset. The net value of the home is the appraised value of the home, minus the sum of any and all loans secured by a mortgage, trust deed, or other lien on the home. If you wish to include the net value of your home, then you must include documentation demonstrating that you own it, a recent appraisal by a licensed appraiser, and evidence of the amount of any and all loans secured by a mortgage, trust deed, or other lien on the home. 

[sinapp 0]

I have the deeds in my name, although they are written in Spanish, should I get them translated by a licensed translator?... and if I should provide value appraisals, do you know who in the country of Colombia is legitimate to do that and if also it should be translated? As I heard that this evidence of assets would be reviewed by the American Embassy in Colombia and they speak Spanish... (?) Thank you.

[pushbrk 12,092]

1 hour ago, sinapp said:

I have the deeds in my name, although they are written in Spanish, should I get them translated by a licensed translator?... and if I should provide value appraisals, do you know who in the country of Colombia is legitimate to do that and if also it should be translated? As I heard that this evidence of assets would be reviewed by the American Embassy in Colombia and they speak Spanish... (?) Thank you.

They don't need to be translated for this purpose.  However, do you really have "no income" or is it just no taxable income?  Even if your equity in the two homes is far more than three times the income requirement, they might not consider the equity to be liquid enough to qualify you unless you sell first.

 

 

[sinapp 0]

In my last income tax I declared about USD 4.500, which was actually the income from renting out my 2 houses here in Colombia. I am writing that small income as a 'self-employed' (Property manager) on my I-864, although I heard that the income could only count if it's made in the US... In Colombia, it is a decent income but of course, in US dollars it is not that much 😉  My 2 houses assets are in fact apartments and they are pretty well located in the city of Medellin, we live in a 3rd apartment which I don't include in the affidavit of course... Your insights are very much appreciated.

 

 

[seekingthetruth 1,218]

2 hours ago, sinapp said:

In my last income tax I declared about USD 4.500, which was actually the income from renting out my 2 houses here in Colombia. I am writing that small income as a 'self-employed' (Property manager) on my I-864, although I heard that the income could only count if it's made in the US... In Colombia, it is a decent income but of course, in US dollars it is not that much 😉  My 2 houses assets are in fact apartments and they are pretty well located in the city of Medellin, we live in a 3rd apartment which I don't include in the affidavit of course... Your insights are very much appreciated.

 

 

If you are currently living in Colombia, how are you going to reestablish domicile in the U.S.?  Where are you going to live?

 

 

[carmel34 3,529]

3 X the 125% poverty level is around $66,000 US.  So you will need evidence that the apartments in Colombia can be sold within a year or less to realize a cash profit after selling expenses of more than that.  Maybe you have other liquid assets, bank accounts, retirement savings, etc.  The I-864 and income/assets are judged based on the totality of the circumstances.  Income in the US would be preferable but assets alone if enough could work.  A joint sponsor may also be needed in your case, also evidence of US domicile or intent to re-establish a US domicile will be required as well for a successful visa process.  Good luck!

[sinapp 0]

How to re-establish a US domicile wasn't my question here, but I know this is another story. I don't have residence in the US, although I was still active voting and have never closed my bank accounts; I have also a LLC company (which doesn't give me any income yet, it's a online platform for artists in English...) that is legally registered in the State of Florida to where we will certainly move at the same time if it works out. Hopefully that will be enough, and if I am asked for more Evidence, I would have to show that I am looking for an apartment and eventually a job (???) although I don't know how well to prove that...

[pushbrk 12,092]

48 minutes ago, sinapp said:

How to re-establish a US domicile wasn't my question here, but I know this is another story. I don't have residence in the US, although I was still active voting and have never closed my bank accounts; I have also a LLC company (which doesn't give me any income yet, it's a online platform for artists in English...) that is legally registered in the State of Florida to where we will certainly move at the same time if it works out. Hopefully that will be enough, and if I am asked for more Evidence, I would have to show that I am looking for an apartment and eventually a job (???) although I don't know how well to prove that...

So you have no retirement income at all?  No Social Security, VA, etc.?  Is your equity in the apartments more than $66.000?  Should be comfortably more.  Do you have other liquid assets?  If not, you'll need a qualified joint sponsor, or to come back and get a job.

 

Note that the domicile issue is directly connected to your affidavit of support.  Members are here to help, without limiting their comments to your direct questions.  We find that people going through the process for the first time, tend not to know what they don't know, so don't know what to ask or not ask.

 

Your issues are not limited to whether you can list and document your equity.  The big issue is how a Consular Officer will consider it when making his judgment call.  Putting your real estate up for sale, would help with both the liquidity issue and the domicile issue.

[sinapp 0]

To pushbrk: As a first-time user of this forum, it is not yet obvious to me how to respond in here to the message of one person specifically; I got a little confused with the many answers and various information I have received from the start, sorry about that.

 

My home assets are about 40% more than $66.000 and I have about $13.000 savings in my US bank accounts. I am totally open to sell one of my apartments before going to the US but I would rather wait to see their response because I believe that to put my money in a bank during that world-wide crisis (post-covid inflation...) would not be profitable comparing to still renting it out... I am hopeful that it can work like this and if they will ask me for more evidence, I could maybe sell one of my homes ASAP;  I am aware that it could take a few months though (in Colombia it takes usually 3 months) but I am not in a hurry to go back to the US anyway; if I can go back to the US, of which country I became a citizen only 12 years ago, that would be great specially to give my spouse the opportunity to improve her English and experience life in another country (Colombian people have always had it difficult to get out of their country, historically)...

About retirement income, I have not reached the "48 credits" or so during my years living in the US and as European (my first nationality) I still have a couple of years to reach the age of retirement 😉. About getting a job back in the field where I was working in the US, which was acting and modeling, I could easily ask one of my old agents to take me back for work but as it a self-contracted job (no regular pay), I doubt that Immigration would trust that; and finally, about getting a joint sponsor, I may ask some old friend of mine in the US but it would be really as a last resort...

 

Thanks again for your help. 

 

 

In my last income tax I declared about USD 4.500, which was actually the income from renting out my 2 houses here in Colombia. I am writing that small income as a 'self-employed' (Property manager) on my I-864, although I heard that the income could only count if it's made in the US... In Colombia, it is a decent income but of course, in US dollars it is not that much 😉  My 2 houses assets are in fact apartments and they are pretty well located in the city of Medellin, we live in a 3rd apartment which I don't include in the affidavit of course... Your insights are very much appreciated.

 

 

[pushbrk 12,092]

You're borderline, at best.  A joint sponsor is in order.  Not obtaining one before the visa interview, will likely result in a delay, in my opinion.  Nevertheless, all you can do is all you can do.

[sinapp 0]

I am aware of it, that I am borderline, that's why I consulted in this forum and it is not the first time I am like this in my life but in life, menos death, there is always a solution to everything, right! 🙂

[pushbrk 12,092]

4 hours ago, sinapp said:

I am aware of it, that I am borderline, that's why I consulted in this forum and it is not the first time I am like this in my life but in life, menos death, there is always a solution to everything, right! 🙂

Right, and in this case it is selling your investment properties, and/or a joint sponsor.  You may actually need both.

[sinapp 0]

Hi,

For what I understand, in my case sponsoring my overseas spouse, as my income is low, I need to use my 3 properties/assets which are including 3 apartments, one being where we live at this time...

1. Would it be OK to give the total value of the 3? With the 2 in which I am not living in, the value is about 40-50% over the poverty guideline...

2. Would be a copy of the deed of each apartment OK as documents? On some law websites, I have read that I would need to pay for a certified professional appraisal (which would be quite costly for 3 apartments I guess) but not on the travel.state.gov website where it is only written "documentation of assets establishing location, ownership, date of acquisition, and value"...

Your help would be greatly appreciated in these matters!