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by Dascar Daniel
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e lawyer is trained to handle. It's not good enough to have your family lawyer or corporate lawyer review the deal. If you want an iron-clad real estate purchase and sales agreement which addresses all of the unique and common issues that you face as a real estate buyer in a foreign country, then you need to hire a real estate lawyer who is licensed to practice in that country. Nothing else is "good enough".
So, if the advantages of hiring a Real Estate lawyer are so obvious, what, if any are the disadvantages of using one for your foreign real estate transactions?
First, a Real Estate lawyer will add cost to the transaction because of his or her fees. While these costs are usually not excessive, they are a consideration.
If you are a seasoned buyer of real estate in a particular country then you may not need a Real Estate lawyer to guide you through the intricacies of property ownership.
Using a Real Estate lawyer may cause the deal to close at a later date due to his or her need to review and revise the purchase and sale agreement.
I'm not really sure, however, if these can be labeled as disadvantages considering the amount of money that you are about to invest in a deal where legal ramifications that pop up later could haunt you for life and drain all of the equity and more out of your foreign property.
If you find this information useful you should visit the site http://www.about-realestate.net where you will find lots of interesting articles related to this topic , all original and wrote by Dascar Daniel.
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