Legal Question in Real Estate Law in Illinois

International Real Estate Investment?

Hello. Recently, I was made aware of a ''great'' real estate investment opportunity in an English-speaking Carribbean island. I'm considering this opportunity, but want to know what due diligence needs to be done on my part?

What are your thoughts, experience and opinion on investing in real estate internationally?

Thanks.


Asked on 2/14/08, 6:04 pm

2 Answers from Attorneys
Nicholas Chrisos Nicholas G. Chrisos Attorney at Law

Re: International Real Estate Investment?

I would be extremely wary of a "great" overseas real estate investment opportunity. I know of too many scams that started with that tagline. Even if it's legit (doubtful), laws in these countries can change overnight and deprive you of your entire investment. I wouldn't do it.

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Answered on 2/18/08, 1:30 pm
George Zuganelis Zuganelis & Zuganelis, Attorneys at Law, P.C.

Re: International Real Estate Investment?

Be very skeptical, and remember: If it's too good to be true, it probably isn't. Invest in real estate you can see and have a local lawyer help you with. Real estate is a great investment, but not if you haven't personnally toured the land. "Internationally" is too far away for you to keep control over your investment. With the way real estate is now, you can find "great" deals in your own town. Plus, you can keep control over it.

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Answered on 2/15/08, 10:48 am


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