More Tips For International Homebuyers

According to the National Association of Realtors, buyers from outside the United States now account for more than 7 percent of all U.S. residential property purchases. Nearly half of the international buyers, 47 percent, buy vacation properties. 22 percent buy investment property, and nearly a third buy a property here for both reasons. The statistics also show a trend toward the purchase of condominiums and apartments, and there’s no shortage of either in the greater Chicago area. If you are an international buyer looking to purchase real estate in or near Chicago, here are some helpful recommendations:

1) Visit the community where you want to buy a property. Chicago, one of the world’s largest cities, has a number of desirable neighborhoods. Make an inspection of the neighborhood and get information on schools, hospitals, shopping, dining, and entertainment venues, libraries, playgrounds, houses of worship, and other services you may need.

2) When you find a property you like, review the foundation, plumbing, heating, air conditioning, and have a professional perform an inspection. Your real estate lawyer (see below) can recommend local experts. Do not hesitate to ask questions.

3) The most important move you’ll need to make is to obtain the services of a knowledgeable Chicago real estate lawyer who has substantial experience with buyers from other nations. A good real estate lawyer works exclusively for you, protects your best long-term interests, and can be hugely helpful guiding you through the financial, legal, and cultural challenges of purchasing a property in the United States.

Real estate is almost always a wise investment. When you retain the services an experienced Chicago real estate lawyer, you’ll make a second wise investment in your future. If you’re currently involved in a real estate transaction, or if you’re considering a real estate sale or purchase in the greater Chicago area, don’t hesitate to make the call promptly.