Cody Carmen, Market Analysis--Educational Content, Adhi Schools (Adhi Schools, LLC)

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Rainmaker
4,323,202
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Cody,

Yes we have, and it is important to line up attorneys who speak their language also.  Although they may be fluent in English, it does not mean that they are fluent in our legalese or our way of phrasing.  We had French clients and I was capable of answering all their questions and explain in French, and I was delighted that they had in tow an attorney licensed in France and in the US to go over the finer points.  A

Jul 07, 2016 01:18 PM
Ambassador
3,981,968
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Yes and culture plans a big part in it. Be sure you read up on their country's culture, etc. so you know you are not insulting or rude and derail the sale.

Jul 07, 2016 01:47 PM
Rainmaker
3,767,046
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Yes and the challenges can be many. As Fred Griffin commented signing documentation can be the biggest challenge!!

Jul 07, 2016 12:35 PM
Rainmaker
2,394,765
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

We have a large foreign born population that we help buy and sell homes. The biggest problem is the language barrier.  If you do a great job for them all their friends will go thru you.

Jul 07, 2016 12:07 PM
Ambassador
2,345,139
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

China, India.   The biggest challenges arise when we need a document signed by someone who is not in the United States, but is in India, or in China.  

Getting the proper notarized signatures and witnesses, then international FedEx, can be time-consuming.  Once it was a Buyer whose wife is in Beijing, the Title Company insisted she sign all docs.  Another was a Seller whose property is in Tallahassee, she is in Bangalore India.

Look for a Title Attorney that has experience in dealing with international buyers/sellers in those countries!

 

Jul 07, 2016 09:55 AM
Rainmaker
845,955
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

LOTS!

Jul 07, 2016 10:07 PM
Rainmaker
823,788
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I have dealt with many, some who speak english in which case I try to find agent who speaks that language and refer it out

Jul 07, 2016 10:03 PM
Rainmaker
2,982,593
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Yes, I do. I've been a listing agent and a selling agent. Anything to do with actual capital and taxes is handled by an accountant and/or attorney. 

Jul 07, 2016 09:23 PM
Ambassador
1,769,715
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Yes I have dealt with many Nationals.

Jul 07, 2016 01:04 PM
Rainmaker
1,523,697
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We have, but those buyers always paid in cash and many expected confidentiality.

Jul 07, 2016 10:56 AM
Rainmaker
912,612
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Middle Eastern, Japanese, Chinese, Canadian, Indian and Mexican; regularly deal with these clients and in Canada & Mexico's case, often from their country of origin.

I'd be careful with British buyers. China is often a challenge, but just expect delays. The rest so far have been fairly simple. We have a CALFIRPTA form & process for foreign sellers too.

Jul 07, 2016 10:38 AM
Ambassador
2,803,631
Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

Cody yes we've had a number of foreign buyers in particular Europe, Cananda,Mexico and India. Of course at times language can be a challenge but we work through it as best as we can. I've got one guy that keeps on coming back and he's got certain 'ideas' of how things should be and he's a hoot.  Been working with him for about 6 or 7 years now. We've become good friends.

Jul 07, 2016 10:38 AM
Ambassador
1,963,918
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Florida is a very popular destination for foreign buyers and I have worked with many foreign buyers as well as sellers from several different countries.

Jul 07, 2016 09:25 AM
Rainmaker
526,069
Mike & Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

A large portion of our buyers are international and I absolutely love them! 

Have never had a problem with language, because they all know how to speak English.  My dad spoke 7 languages and my mom spoke 6, so I am good understanding all accents. 

Never had a problem with signing documents either, because they pay cash and we use docusign.

Eve

Jul 08, 2016 02:51 AM
Ambassador
881,681
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Yes, assets and income can be a challenge but as long as the buyers are savvy (they almost always are) and we can overcome any language barrier (which we almost always can) it's not too tough.  They have a lot of options as long as they are not diplomats.  Diplomats have fewer options.

Jul 08, 2016 02:48 AM
Rainmaker
3,173,507
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Mail away closings, as they are called, can present significant challenges as well as loans to foreign nationals. Research on advance is key. Ask a lot of questions!

Jul 07, 2016 11:50 PM
Ambassador
1,613,518
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I have experience with foreign buyers. I have obtained my CIPS designation.

Jul 07, 2016 11:37 PM
Rainmaker
1,367,627
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Cody Carmen Understanding the culture and U.S. laws is a big help.

Jul 07, 2016 11:35 PM
Rainmaker
2,905,389
Richard Weeks
Dallas, TX
REALTOR®, Broker

If you count people moving from Oklahoma to Texas yes.

Jul 07, 2016 10:25 PM
Rainmaker
783,646
Susan Laxson CRS
HomeSmart Professionals - La Quinta, CA
Local Knowledge & Global Network

Yes, often and I have also sold property internationally.  CIPS (Certified International Property Specialist) offers good information on working with international clients. I make sure to have a translator available, a foreign currency advisor I can contact, and I research their culture to see what may be important to know ahead of time and much more. It has been very rewarding and I have found my international clients are very loyal.

Jul 07, 2016 10:01 PM
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Yes

Jul 07, 2016 09:32 PM
Rainmaker
5,272,056
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Yes. We have many in our market.

Jul 07, 2016 08:54 PM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Cody Carmen - so far, working with immigrant buyers - first generation. Though not a 'foreign' as you meant in this question.

Jul 07, 2016 04:03 PM
Ambassador
2,188,650
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

My area hasn't caught on with the foreign buyers yet. 

Jul 07, 2016 12:49 PM
Rainmaker
985,899
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Cultural differences. Power attorney and wet signature.

Most have little or no US credit it would be a major foreign bank with US branch (e.g. India State Bank, HSBC, RBC, Sberbank) that will wire the money or lending with a local letter head).

Most high end (>4M+) is done with cash. Very little tax advantage with a mortgage.

Jul 07, 2016 12:46 PM
Rainmaker
1,675,306
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Not yet!  That is if they live abroad.  We have sold homes to some within the area though.

Jul 07, 2016 12:26 PM
Rainmaker
2,426,599
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Mine consisted of tough eggs. I dont wish to categorize but the stats are there

Jul 07, 2016 11:14 AM
Rainmaker
3,977,733
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Only one time and it was fine.

Jul 07, 2016 09:22 AM
Rainmaker
797,359
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Cody - I can't say that I have much experience with foreign buyers, so am not really able to help.

Jul 10, 2016 04:23 PM
Rainmaker
4,796,557
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have had many positive experiences.  A quick Internet search for customs that pertain to the nationality in question may be of some help to you.

Jul 10, 2016 02:53 AM
Rainer
65,828
Cody Carmen
Adhi Schools, LLC - Rancho Cucamonga, CA
Market Analysis--Educational Content, Adhi Schools

Thank you everyone who answered! Lots of good information. 

Jul 08, 2016 01:34 AM
Rainmaker
3,049,971
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

parked and reading...

Jul 07, 2016 09:52 PM
Rainmaker
1,523,566
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

No, sorry.

Jul 07, 2016 12:46 PM
Rainmaker
1,157,264
FN LN
Toronto, ON

My area has many foreign buyers, new to Canada buyers as well as other immigrants who buy.  The buyers are from all over the world.

Jul 07, 2016 11:48 AM