International Real Estate Law
I am an overseas real estate investor. I would like to invest in USA real estate, but not sure how to go about it. What should I do to trust any real estate company with my money to invest it for me and believe them to act on my behalf sincerely?The best recommendation would be to have an attorney handle your funds and you would need to pre-approve any investment before locking into a binding contract.
You could let your attorney buy and sell property for you with your interest at hand, or hire a real estate broker to handle the real estate.
With the recent decline in the economy, the real estate market has declined. In some areas, prices have dropped as much as 70%.
An alternative to buying and selling real estate would to be a mortgage lender. Many banks are denying loans unless the person has at least 20% down payment. There is a market for private lenders due to the number of people who don't meet the requirements of a banking institution. While the interest fees seem to be higher with a private lender, they are more sough after than traditional bank loans. However, if this option doesn't interest you, you should be very careful to screen anyone who will be handling your money. Real estate brokers are generally bonded and it's a good idea to find out the size of the bond that any real estate broker carries.
Real estate brokers charge around 6% for handling property in the US. If you are planning a long term investment, you may want to negotiate this price. More than likely you can settle on a much smaller fee if you convince the broker that you will need hi/her services for an extended period of time.
What documents are required for an international student, who has an international co-signer, (relative) and is trying to rent an apartment in Boston, MA. ? The co-signer has an American bank account, and has already proved that he has enough resources to afford renting.When renting an apartment, it is a matter between the land lord and potential tenant and doesn't require any special documentation. However, many land lords do require certain information such as identification, a bank statement, ability to pay rent based on income, and your signature for a contract (lease). Because you are an international student, some landlords may require more assurance, such as a higher deposit. Many landlords worry that if you are an international student, the chances of you leaving the US before the lease is up may be greater. Aside from these issues, there is no government or administrative steps required to rent.
I signed a counter offer two days ago to an international buyer for my home. I would like to cancel this transaction. I do not wish to sell my home at this time. Can I cancel? While communicating with my realtor, she stated I will be sued if I don't go thru the transaction.More than likely, the real estate agent told you this because she stands to lose her commission if the sale doesn't go through.
If a seller decides not to sell their home, they can usually back out of the contract in the first three days of the agreement. However, you must be prepared to compensate the buyer for any money spent on inspections or other costs. You may have to pay more than you expect, but that will all depend on how much money the buyer has spent up to the point that you decided not to sell.
There doesn't appear to be any reason why you cannot back out of the deal as long as the buyer is content with the agreement. You may want to have an attorney review the contract to determine if there are any loop holes that may cause issues later on.
I want to transfer my property in Pakistan over to my daughter. Can I do the transfer from VA?In order to transfer the ownership of your property in Pakistan over to your daughter, you will need to hire an attorney in Pakistan. This cannot be done from the US. If the attorney is able to submit the paperwork for you, you may not have to go to Pakistan for the actual transaction. So your first step would be to find an attorney in Pakistan who is willing to perform the transaction for you.
If you have questions or doubts about international real estate laws, you should ask an Expert in Real Estate Law.