Feb. 19, 2014, Medellin, Colombia: The easiest and safest way to invest in real estate overseas can be to buy into a development; here are 10 questions to ask to vet an overseas property developer.
Dear Live and Invest Overseas Reader,
Investing in a piece of foreign real estate can be a rewarding and even profitable part of a retirement move overseas. For most retirees, the easiest and safest way to take the overseas property plunge is by buying into a development. Typically, developers in markets appealing to foreign retirees build to the standards those foreign retirees want and expect, speak English and sometimes even offer developer financing.
But buying from a developer in a foreign country is not without its risks. How can you be sure you're working with an honest and reliable developer who is representing his project fairly? Remember that overseas developers are often not subject to the same regulations and oversight as developers in the United States, meaning you don't have the built-in protections that you're accustomed to.
Here's a checklist of 10 questions to ask when selecting and vetting an overseas developer: