4 ms·

Property is not hard to buy or sell in a developing country. What makes you think it is hard?

• IG_Semmelweiss 5y ago
  Probably not universal, but it does seem developing countries do not have reliavle title searches or title insurance. Source: tried to buy property for many months in 2 different foreign countries. Havent been able to do so yet mostly due to challenges around title and very poor broker listings / knowledge
  • freddie_mercury 5y ago
    Just because it works differently than you're used to doesn't make it "hard", though. It might be "risky", which is what it sounds like you're talking about. But in many ways it is easier than in the west, since you don't need to deal with: inspections, appraisals, mortgage contingency, closing periods, CCRs, escrow, etc. I own two pieces of property in a developing country and in both cases it took about a day. I gave them cash and they handed over the title.
• ajsnigrutin 5y ago
  Neither buying or selling can be done overnight, but usually takes at minumum weeks, probably months to do fully. Bitcoins take seconds.
  • freddie_mercury 5y ago
    Buying in a developing country can absolutely be done same day. I've done it and know several others who have done it as well. It definitely doesn't take months.
    • zsmi 5y ago
      You're measuring the transaction time, and I agree that can be very fast. I've also experienced it myself. But if you measure from the time when the property goes on the market to when the seller has cash in hand, that can take a long time, anywhere. What I mean is, you can put a "for sale" sign up on the door, that doesn't mean buyers are going to show up.