The trouble is real estate agents in these popular destinations know that they have a captive buyer and so buyer is in ultimate vulnerable position! Add to this fact that legal and financial processes differ from country to country and many people don’t appreciate this fact and you have a real estate disaster waiting to happen!

So, here’s essential guide to buying overseas real estate to protect unsuspecting buyer from unscrupulous sales techniques or falling foul of misunderstandings and misinterpretations.

1)Get yourself independent legal representation – do not take recommendations of developer or sales agent you’re thinking of buying from, do your own research. Check out whether your country’s embassy in your overseas destination of choice has a list of lawyers they recommend. If not then get on internet, find forums and sites dedicated to your country of choice and ask people on these sites for their recommendations.

2)Never assume anything! Purchase processes differ from country to country, legal processes differ from country to country and your rights as an overseas buyer differ from country to country. Find out from your lawyer what your rights are and how entire process to purchase should proceed.

3)Have any financing you will require agreed in principal before you set out on your hunt for that dream home. That way you will have a fixed budget with which to work – do not be seduced by a salesman into extending that budget. He wants you to as he will make more commission but it will mean you put yourself in a potentially untenable financial situation.

Types of Business Valuation Professionals

They are a number of professions that offer business valuation services. In most areas there is no specific regulation of this profession. Business valuation services are not usually a primary source of revenue, so locating business valuation professionals can be difficult. Here are some types of professionals that commonly offer business valuation (BV) services.

1. CPAs – Many CPAs offer BV services in addition to their normal accounting, auditing, and tax work. CPAs often have a combination of business, accounting, finance, and tax knowledge that is well suited for valuing businesses.

2. Financial Consultants (non-CPA) – Financial consultants have varying levels of expertise so their backgrounds should be checked carefully.

3. Business Brokers – Brokers normally stick to valuing businesses they have listed for sale. They tend to rely on ‘quick and dirty’ methods that work well for determining asking prices, and are not intended to be formal valuations.

4. Commercial Real Estate Brokers/Agents – Commercial real estate professionals sometimes value businesses they list for sale. They are good at appraising real estate, but typically lack skills and experience to properly value intangible assets like goodwill.

No one type of BV professional is inherently better than another. Examine each professional’s qualifications carefully.

Business Valuation Credentials

There are four major organizations that offer business valuation certifications. Each certification has unique prerequisites and renewal provisions. They all require membership in granting organization.

1. The American Institute of CPAs (AICPA) grants Accredited in Business Valuation (ABV) credential that requires being a CPA, passing an exam, and BV education and experience. Their online ABV directory can be accessed at www.aicpa.org/accredrefweb/abvsearch.asp

2. The American Society of Appraisers offers Accredited Member (AM) and Accredited Senior Appraiser (ASA) designations that require passing exams, and BV education and experience. Their online member directory can be accessed at www.bvappraisers.org/find/.