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Procedure for purchasing a home overseas?

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Icon Mini Profile hiklass





Joined: 08 Jul 2009

Posts: 2

1.24 Dollars($)
Post Posted: Wed Jul 08, 2009 3:01 pm    Post subject: Procedure for purchasing a home overseas?
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I want to purchase a home in Bogota, Colombia in November or December timeframe

Thanks
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 10164
Location: Nevada
944.24 Dollars($)
Post Posted: Wed Jul 08, 2009 7:48 pm    Post subject:
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Hi hiklass,

The procedure for home purchase may vary from state to state. You'll have to check the prices of the property in that area and see if you can afford them. Lenders would check your income and credit score to approve you for a loan. If you want a loan, you should have a good credit score and a stable income for at least 2 years. Apart from this, you should also arrange for a down-payment. A good amount of down-payment may help you in getting better rates and terms.

Thanks
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