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Tuesday, December 29, 2009

Preparation

Preparation: If you are going to buy, you need to be prepared with (a)Money; and (b) a plan on how you want to hold and administer the property:
- Ability to write a cheque on the spot for “earnest money” to attach to an offer.
- Proof of available funds or equivalent (e.g. pre-approved line of credit that you can access easily). Proof could be a letter from your bank, or potentially a bank statement.
- Ability to access US funds as needed - E.g. Bank or Currency Broker or both?
- Hold the property in your own name(s), or in a company, LLC, or Partnership?
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