Canadian Buyer Looking for Arizona Foreclosures?

HomeLovers’ Barbara Broyles was on Trulia this morning, answering a question from a Canadian Buyer looking at Arizona foreclosed homes. Click here for the full Trulia dialog.

One rule of thumb for Canadian buyers that are not paying cash? Get your financing in order BEFORE you start looking. It can take longer than you think.

Here is another important point, according to Barbara:

“Being in a different country does present its own unique challenges. Be sure that you have an agent in place here that has a team of individuals that can help with all aspects of purchasing a home including financing, insurance, accounting, etc. You don’t want to be on your own for investigating and finding each professional you need via long distance.”

According to the Phoenix Business Journal, part of Arizona’s appeal to Canadians is that the exchange rates have been fairly level between the U.S. and Canadian dollar.

10 Questions Canadian Buyers Should Be Asking AZ Real Estate Agents
BEFORE they decide on a long-distance partnership:

1. How many out-of-town investors have you represented?
2. What is your process for selecting good investment properties?
3. What is your average vacancy rate for properties you have selected for investors?
4. What about for properties brought to you for property management that have already been purchased by the investor?
5. What other resources do you offer, such as insurance, mortgage, title, taxes, etc.?
6. What happens when I go home?
7. Give me some examples of properties you have selected for an investor, and walk me through their process start-to-finish, all the way through the signed lease.
8. Give me some examples of what you think makes a good investment and why.
9. What data do you have that supports your theories?

Post a question for Barbara on Trulia or read her other blog articles here.

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