Financing & Mortgaging
Titled property can be financed with a local institution. Stateside banks DO NOT finance here.
Procedure is pretty consistent with stateside ways………but CAN take longer and CAN be frustrating.
If you need to finance here, we suggest FEMBI right now. It is a difficult and time consuming and frustrating experience at best, with abnormally high closing costs………
Easiest financing is to take equity out of a stateside property and bring “CASH” for business here.
Rates are LOW though…so a GREAT TIME TO BUY!
Owner financing is often a possibility on Untitled purchases, but sometimes on Titled as well. It is advisable in that the owner becomes “the bank” thereby making the interest, and it also cuts out the entire institutional process and big expenses with points, etc etc. All done thru negotiation and generally with not less that 35% down minimum.