This weekend I completed my Master’s Certification as an International Real Estate Specialist. Buying property in areas of the world where there are no professional codes or procedures can and do cause considerable risk to the buyer in these areas without working with someone who has both knowledge and experience. The internet makes it easier to find and see property, but that does not allow you to see below the pictures and the email link. Does this person offering the property actually have the rights and ability to sell it to you? Does the property come with the land, or is the land rented to the property owner? What are the taxes and the filing fees, who do you pay and how do you get the property recorded?
Anguilla is an island where the government is safe and secure. This is important to anyone who is planning to buy a vacation home. Imagine if you had bought property in Granada right before the invasion? Stability of the economy and the government is a key consideration when deciding on a home away from home. What are the tax implications? Not only the taxes on the land and property, but are there other taxes to be levied? Will you be able to deed the property to your heirs? Working with a professional who has a check list of 75-100 issues they cover for you before committing your money to a property is worth making sure you are covered in all the ways you might not ever think about if you don’t work in this field, let alone do the work internationally.
Enjoying your vacation home
Boomers enjoying home away from home
The Boomers, Zoomers, and Gen X are poised right now to begin using the leverage of “fractional ownership”. While Fractional has a bad name in some areas the idea of sharing your home with family and friends and sharing the costs is an idea that can work under different names-like partnership. Quite simply, fractional ownership is buying a property with deeded rights to it. This is like a group of your friends renting, or buying a ski chalet for a winter. You have the property for that period of time and that is all you pay for. In Anguilla we have 7 Palms Villa available for this type of sale. We can sell this property to a single individual, or a group of people. The individuals within the group would determine how to split the time and payments for the land and property. This allows the individual owners to spend less and have the best. I believe that fractional ownership is going to be a growing trend over the next many years. People want to travel and have a home away from home. If they can do that with fractional ownership of more than one vacation home all the better. Call Larry Lawfer at 972-322-7776 for professional answers to your International Real Estate Specialist questions.
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