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Personal Finances / Buying or Selling a Home


Subject:  Purchasing Real Estate Abroad Date:  2/5/2013  2:35 PM
Author:  chopsueycp Number:  124664 of 128883

Hello all,

My family has been offered an opportunity to buy back property in Italy that our ancestors that were born there owned. The property is still owned by a second cousin, but he has been approached by some outside buyers and is thinking about selling. He wanted to offer it to us as a courtesy before he sells it out of the family.

We are talking about a very small purchase in the grand scheme of things. However, the property has nostalgic value for us and some family members are willing to put up a few bucks to keep it in the family and have a place to visit over there.

I was going to do some research on buying real estate abroad, but I don't even know where to start. Do any of you have experience here and can point me in the right direction? I have expressed caution to my relatives - we don't want to buy a money pit or a lemon just because it's nostalgic....

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