Monday, January 11, 2010

Foreign Investors for US Real Estate Should Hire a Lawyer Where the Property is Located

If you are a United States foreignor planning to buy property here, you should hire a real estate attorney to help you.
 
Make sure you speak and consult personally with and hire an experienced lawyer.  Check out his or her credentials, profile, history with clients and cases, and other factors that are important for you.
 
Hire your lawyer in the state where the property is being bought.  States have different laws about buying and owning real estate.  If your property of purchase is located in California, check with the State Bar of California at www.CalBar.org.
 
Real estate lawyers will do valuable and various tasks through the process ...
  • Personal consultation with you
  • Negotiate your purchase contract
  • Review of documents
  • check title records and documents regarding the property
  • review your mortgage or home loan contract
  • property tax issues review
  • recommend possible changes to loan contract
  • review legal and tax issues of transaction
  • assess your eligibility for possible income tax refunds
  • consult with your income tax professional.
This real estate lawyer can be your watchdog and guide you through the process of buying the home or investment property. 
 
Your lawyer should make sure that you are legally protected according to law in the state and jurisdiction and also according to terms of the purchase contract.
 
You as foreign investor in the United States need to have someone you can trust, an experienced lawyer advocate and liaison to help you through the process.
 
This lawyer will probably also recommend that you consult with and hire a certified public accountant or income tax professional in the state and jurisdiction where you are buying the property.
 
If you are not a US citizen or legal resident here, be careful with your purchase of real estate where the process can be complicated, and always hire a lawyer.
 
_______________________ 

Harrison K. Long, Explore Group, Coldwell Banker Previews, Irvine, CA.  Irvine Realtor.  CA DRE #01410855.  ExploreProperties@gmail.com.  Tel. 949-854-7747.  

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Posted via email from Explore OC Homes

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