16
Mar
12

Do you work with Foreign Real Estate Buyers?

If so, here are six tips for working with them!!

Thanks to Old Republic, Real Estate Digest, March 2012 Edition.

1

Remember that foreign clients may know real estate, but not U.S. real estate. You need to explain local market conditions and U.S. legal issues. But be careful not to talk down to them.

2

Focus on clients from one or two countries, especially when you’re just getting started. In that way, you can become more familiar with the culture and establish a wider network of contacts more rapidly.

3

Recognize that factors such as currency fluctuations and a need for market stability may influence buying decisions. Just being able to park money in the United States may be reason enough to buy.

4

Take it slowly. Recognize that people from some cultures require more consultation and time to make a decision.

5

Develop a group of tax, legal and other experts in foreign ownership of U.S. real estate that you can offer foreign buyers as a resource. Once you’re seen as a trusted adviser, offshore clients will often look to you for assistance in other parts of the transaction, such as finding legal advice.

6

Help bridge differences. Simple things such as converting a price from dollars to euros or square feet to meters can make a foreign buyer more comfortable, says Berger.

 We, at Title Junction, can assist and are well versed in foreign transactions!!

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Jennifer Ferri, Owner

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