How to attract more foreign buyers to your property for sale (Part 1)

Why is it important to know the laws of your land concerning foreigners coming, buying real estate, getting mortgages, doing business, and perhaps receiving residency or immigration rights because of their purchase of residential or commercial properties?

Simple: All this information might turn into a powerful marketing and eventually selling tool for you, the seller, and sometimes brings you more money at closing. Even if you go through realtors, you have to answer questions about your property and its best-selling points, and also it is to your advantage to tell the realtors about these privileges for the foreign buyers upfront as the realtors may not be as much familiar with the business or immigration issues as you hope.

We have already spoken about plenty of reasons why foreigners buy properties in countries other than their own, and the more points of attraction for them you may find in your property for sale the higher are your chances to sell your property for a good price to a foreigner.

= Measure your property for sale against your country’s rule of providing foreigners with the right of residency and citizenship (passport) immediately or in the future if any such options are available. And many countries of the world do have policies to award foreign investors.

A dozen of the European Union countries have residency rights programs for foreign buyers of residential properties for higher than some barrier price (varies for each country); many of the Caribbean islands provide citizenship for their foreign investors (the dollar amounts and investment goals vary); the U.S. government promises a green card and citizenship in due time later for foreign investors in commercial properties under specific regulations; this list is not limited to the above-mentioned opportunities.

These incentives might be a huge attraction for some foreign buyers in case your property meets the requirements of the according laws of your country.

= Can a foreigner buy a residential or commercial property in your country as a private person or a business entity (then upfront offer help of a lawyer or other professional who deals with the issue)? It does not matter for most countries, but it does for some, and if this is the case you have to be familiar with the rules for the foreigners as well as with the general procedures in your country to follow for changing the ownership of a property – to be ready for a coming transaction and not to have any surprises ahead.

(To be continued)

Copyright © 2017 by Olga Kellen
All Rights Reserved

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