Need appraisal for co-sponsor's assets?

[gingerblue 0]

Reposting from embassy forum...I think I need UK specific advice.....

I'm the USC, petitioning for my fiance who is in the UK. I do not work, but my fiance has substantial assets tied up in his house. It's up for sale and has not sold yet (thank you UK housing market), so therefore we are asking my parents to co-sponsor for the I-134. We don't need them for the AOS because by then we're hoping my fiance's house will be sold and he will be able to self sponsor for AOS. My parents are retired with little income and are planning to use their farm's value as the asset on the I-134. (The value of the farm far surpasses the I-864's requirement, and has no mortgage.)

Question is, do my parents need to get an appraisal for the farm or is a mere statement of its value sufficient evidence? Since this is a huge favor on their part (they don't want the govt knowing their assets!) I really hesitate to ask them to get an appraisal ($400) if one's not necessary. (I know if would be necessary if we were to use them for the I-864).

Does anyone have any suggestions or additional input? This is so confusing. Seems this entire process is designed for a wealthy USC and poor beneficiary. Seems to be little provision for the beneficiary to be the one with the assets!

Also, if anyone sees a problem with this logic, let me know. I'd rather have this figured out BEFORE we get to the interview, LOL!

[Dakine 26]

Reposting from embassy forum...I think I need UK specific advice.....

I'm the USC, petitioning for my fiance who is in the UK. I do not work, but my fiance has substantial assets tied up in his house. It's up for sale and has not sold yet (thank you UK housing market), so therefore we are asking my parents to co-sponsor for the I-134. We don't need them for the AOS because by then we're hoping my fiance's house will be sold and he will be able to self sponsor for AOS. My parents are retired with little income and are planning to use their farm's value as the asset on the I-134. (The value of the farm far surpasses the I-864's requirement, and has no mortgage.)

Question is, do my parents need to get an appraisal for the farm or is a mere statement of its value sufficient evidence? Since this is a huge favor on their part (they don't want the govt knowing their assets!) I really hesitate to ask them to get an appraisal ($400) if one's not necessary. (I know if would be necessary if we were to use them for the I-864).

Does anyone have any suggestions or additional input? This is so confusing. Seems this entire process is designed for a wealthy USC and poor beneficiary. Seems to be little provision for the beneficiary to be the one with the assets!

Also, if anyone sees a problem with this logic, let me know. I'd rather have this figured out BEFORE we get to the interview, LOL!

Logic is that most people won't sell their assets to support their son in law!

USCIS would rather see someone like you with a steady job and earning enough to support you and hubby.

[gingerblue 0]

Logic is that most people won't sell their assets to support their son in law!

USCIS would rather see someone like you with a steady job and earning enough to support you and hubby.

*sigh*

I didn't ask that.

Does anyone have some experience with the question I'm asking? Preferably someone who has dealt with the UK embassy?

(Thanks, though, Haole. Our situations are vastly different.)

[Nich-Nick 3,354]

I want to give you a few pages to bookmark. I'm a USC but currently visiting in the UK.

This link is about the UK citizen showing his own support. It's pretty much the exact wording of one of the pages in Packet 3.

http://www.usembassy.org.uk/cons_new/visa/iv/faffidavit.html

I have the whole packet 3 scanned if you would like a copy, however most of it is on the US Embassy London website.

Another good link

http://www.usembassy.org.uk/cons_new/visa/...processing.html

My fiance interviewed last week and I attended with him. I had listed some assets that they didn't ask anything about. But I have an income exceeding the poverty amount, so they probably saw that and skipped over the real estate. If your parents have an income tax return that shows their adjusted gross income is over the poverty level for the household size, then that would probably suffice. Do they draw any kind of pension or social security? Do they make money from the farm? You might want to read the instructions for the I-864 Affidavit of Support which explains a little more about what is considered household size. Most of the information is useful in figuring out the I-134.

There is nothing specific stating assets must be appraised. I also don't think your parents have to worry about the government knowing their assets. I don't think US government agencies 'talk' to each other much. I don't think their assets will be sent to the IRS via London by any means. Anyway, all property is valued somewhere for taxes so the taxing agencies have a record and it could be the proof for the i-134. I pay property taxes to my county, school district, city, etc. but depending on the state where you live it could vary. Ask your parents if they pay property taxes and if they have an appraisal from the taxing entity.

Edited August 4, 2008 by Nich-Nick

[pandora 0]

Reposting from embassy forum...I think I need UK specific advice.....

I'm the USC, petitioning for my fiance who is in the UK. I do not work, but my fiance has substantial assets tied up in his house. It's up for sale and has not sold yet (thank you UK housing market), so therefore we are asking my parents to co-sponsor for the I-134. We don't need them for the AOS because by then we're hoping my fiance's house will be sold and he will be able to self sponsor for AOS. My parents are retired with little income and are planning to use their farm's value as the asset on the I-134. (The value of the farm far surpasses the I-864's requirement, and has no mortgage.)

Question is, do my parents need to get an appraisal for the farm or is a mere statement of its value sufficient evidence? Since this is a huge favor on their part (they don't want the govt knowing their assets!) I really hesitate to ask them to get an appraisal ($400) if one's not necessary. (I know if would be necessary if we were to use them for the I-864).

Does anyone have any suggestions or additional input? This is so confusing. Seems this entire process is designed for a wealthy USC and poor beneficiary. Seems to be little provision for the beneficiary to be the one with the assets!

Also, if anyone sees a problem with this logic, let me know. I'd rather have this figured out BEFORE we get to the interview, LOL!

Hi i recently went through something similar due to my OH being at uni last year and not having sufficient income on his tax return. When i sold my house back in April I did it at a lower price with a rent back option as with after all the charges and fees there wasn't too much of a loss of equity. So that may be an alternative for your OH to sell his house, prolly not the best but may get a quicker sale, as the housing market seems dead her at the moment with prices dropping.

With regards to the co-sponsor your family would have to complete the I-864 form which details income and assets this would need to be 125% above the poverty level for assets shown for the K1 they need to be 3 times the difference between income and assets for the 125% of poverty level.

EG income of $10,000 poverty level of $16,500 difference of 6,500 would therefore have to show at least $19,500 in assets ( 3 x 6,500)

Hope this helps.

Sorry forgot to add that evidence is needed to support claims of assets, eg bank statements etc

Edited August 4, 2008 by pandora

[MargotDarko 0]

Oh geez, you've gotten some confusing information here. The I-864 is for immigrant visas, not non-immigrant visas like the K1, and assets need to be five times the income when it's a joint sponsor. But you seem like you may already know that. Just wanted to make it clear for anyone else reading.

I'm sorry I can't help with your original question but wanted to ask about the equity in your fiance's house. If it's just the two of you and the equity in his house is more than $52,500 USD (about 26,500 GBP), then you don't have to wait for the house to sell.

[Boiler 45,967]

Oh geez, you've gotten some confusing information here. The I-864 is for immigrant visas, not non-immigrant visas like the K1, and assets need to be five times the income when it's a joint sponsor. But you seem like you may already know that. Just wanted to make it clear for anyone else reading.

I'm sorry I can't help with your original question but wanted to ask about the equity in your fiance's house. If it's just the two of you and the equity in his house is more than $52,500 USD (about 26,500 GBP), then you don't have to wait for the house to sell.

Self sponsor for the K1, they only need to see a few thousand.

[gingerblue 0]

Nich-Nick, thank you! I had read most of that already but it gets so confusing, especially when you start reading the forums around here and people seem to have different requirements at their embassies. My parents are retired and I doubt their income meets the levels. But their assets easily do. They're not worried about the IRS...just general paranoia. It's always hard when you're asking a favor of others because you need to respect their wishes (even if I do think they're a bit overcautious). See, I'm not sure we really need to use them at all, but I don't want to get to the interview and be rejected because my fiance's house is UK assets or because it's not sold. I'm just trying to be prepared, LOL.

Pandora...Oooh, another option on selling the house. I'll suggest it to him. At this point we're exploring all options. That house needs to be sold and we're eager sellers (anyone want to buy a house in the UK)? LOLOLOL.

MargotDarko...well the equity in his house exceeds three times the 125% for us and my three kids. The big question is whether or not the Embassy will consider it to be a usable asset. Plus I have equity in my home as well. And I receive child support. (An aside to previous poster's comments...I am not working right now because my middle one is special needs and needs 24/7 supervision.) Plus my fiance has a consultancy business in the UK that will continue after he moves.

Boiler...please elaborate. I really need to know more about self-sponsorship I think. What do you mean by a few thousand?

Okay, I get the idea that London is pretty flexible about self-sponsorship. But what about when it comes time for the AOS?? Everything I read on visa journey seems to be focused on the finances of the USC but that's just plain illogical when the beneficiary is self supporting and not at all likely to become a public charge. I know some embassies will not allow self sponsorship, but what about the USCIS during AOS? (thinking aloud...of course his assets become mine once we're married and then I can claim them as assets in the AOS process, right?)

Thanks guys...please keep the suggestions coming. We're expecting NOA2 this week (knock on wood) and we want to be prepared for the next step.

[pandora 0]

I would suggest you carefully read the I-864 Especially part 6 as the london embassy don't seem to be very good at telling what is wrong with it and may just ask again for joint sponsor ( i have daily to and from emails to prove that)

good luck and hope you manage to resolve things.

Regards

Pandora

[Boiler 45,967]

K1 is I 134 not 864. I 864 when adjusting status.

And London Consulate have sought not much in the way of assets to support this. Ask them what the current number is.

[*julez* 124]

Can you actually self sponsor for AOS?

[MargotDarko 0]

You're fine with just the equity in his house. It is just as usuable of an asset as your parents' house, and I'm guessing he already has a recent evaluation since you're in the middle of selling.

I really hope boiler elaborates on the "few thousand" thing. I've never heard of them looking for less income/assets with the K1 than with the CR1/IR1.

[MargotDarko 0]

I would suggest you carefully read the I-864 Especially part 6 as the london embassy don't seem to be very good at telling what is wrong with it and may just ask again for joint sponsor ( i have daily to and from emails to prove that)

good luck and hope you manage to resolve things.

Regards

Pandora

The I-864 is not relevant here. It's her fiance getting a K1 visa and the I-134 is needed. Have you been told to fill out the I-864 for a non-immigrant (K1) visa?

[Boiler 45,967]

You're fine with just the equity in his house. It is just as usuable of an asset as your parents' house, and I'm guessing he already has a recent evaluation since you're in the middle of selling.

I really hope boiler elaborates on the "few thousand" thing. I've never heard of them looking for less income/assets with the K1 than with the CR1/IR1.

I assumed the same and wondered why the lack of interest in my assets.

Found out later it was ?3,000 they needed, which makes sense as its a 90 day non immigrant visa.

Been quite a few posts over the years on this.

You can not self sponsor the 864 but by that time your assets would co-mingled so not usually an issue.

For AoS most adjudicators just like to see Income form USC.

[*julez* 124]

OK, I think you should read the following thread in its entirety as it is very informative:

http://www.visajourney.com/forums/index.ph...106814&st=0

Also, if you do some member searches, the most accurate info I have ever seen posted on these topics is from rebeccajo and Meauxna. Neither post here any more, but the info is still spot on.

And just to clarify, it appears the the OP is discussing both the concept of self sponsorship using the I-134 for the K1 at the embassy and use of the immigrant's assets for partial self-sponsorship via the I-864 for adjustment of status.