Tuesday, August 17, 2010

Foreign Parts

I love my job. I get to learn something new just about every day!   I have had 3 situations recently that required me to think about how things done locally have to mesh with things done in Foreign Parts.

In the first instance, a Canadian National wanted to buy a condo in Dallas.  What I found out is that for her to do that, she would have to pay cash.  In order for her to borrow money, it could only be with a US lending institution.  And, her Canadian credit history won't help her.  She has to establish credit in the US.  And, it would take 2 years for that to happen.

The other two deals both involved a real estate sale by a US citizen who is currently working out of the country.  In both cases, it was necessary for the seller to travel to the closest US embassy to have papers notarized in a form that is recordable in the US.  One of my sellers decided that he didn't need to travel that distance.  He got the papers executed by a local French notary and then paid to overnight those papers to the title company.  That set off the Tilt Meter at the title company.  The seller got to do it again, this time traveling 200 Km to the embassy.

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