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#2215762 - 06/14/19 03:36 PM Real Estate Loan Overseas
KeepSmiling Offline
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Joined: Jun 2008
Posts: 85
Can we do a loan for real estate in a different country? Even if we can, I don't know how we would enforce a mortgage. Any ideas?

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#2215829 - 06/16/19 02:04 PM Re: Real Estate Loan Overseas KeepSmiling
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,229
Galveston, TX
You would have to engage legal counsel in the foreign country to figure out how it would be possible. Every country might provide a different answer. But the real question is, considering the expense and the risk the bank would be taking, why would you want to?
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#2215831 - 06/16/19 09:42 PM Re: Real Estate Loan Overseas KeepSmiling
Rocky P Online
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Joined: Jun 2003
Posts: 7,650
Florida
As Randy mentioned, you will be adding costs and lack of knowledge in the transition.

Another potential cost. If the language in the other country is not English, in most cases the bank will need to get a certified translation of all documents and other pertinent opinions to satisfy bank regulators, and at the bank's expense. Examiners and credit review Ned to be able to fully understand and document the transaction.
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#2215861 - 06/17/19 06:09 PM Re: Real Estate Loan Overseas KeepSmiling
KeepSmiling Offline
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Joined: Jun 2008
Posts: 85
Thank you!

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