2006-11-04 10:53:55 · 3 answers · asked by lennox525 2 in Business & Finance ➔ Renting & Real Estate
I'm building oceanfront condominiums in the Bahamas. My buyers must either borrow from Bahamian banks or refinance U.S. real estate to raise the cash. U.S. banks are not able to make loans secured by Bahamian real estate.
2006-11-05 01:25:13 · answer #1 · answered by matthew s 2 · 0⤊ 0⤋
I think you'd have to get a personal loan or else secure it by property in the US. I don't think a US institution can place a mortgage lien on a property in another country.
2006-11-04 11:11:36 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
I understand that it's very difficult. It would be very difficult and expensive for a bank to foreclose on a foreign property if you should default. Plus, depending on the stability of the country's government, the bank would not want to take the risk of a government coming in and taking your property.
2006-11-04 12:38:24 · answer #3 · answered by Realtor Jim 2 · 0⤊ 0⤋