Obtaining Financing To Build House In Europe
How would one go about finding a lender who would be willing to provide financing for a summer home in Europe? Is it as simple as finding financing for a summer home in the US?
I bought a home outside the U.S.A. (not Europe) 5 years ago but used a refi mortgage on my home here to pay for it. From my one and only experience I would say that would be your best course of action as the transactions are complicated enough without the financing factor.
Most references to financing in Europe seem to be commercial. You might try European Real Estate Directory. Their url is http://www.europeanrealestatedirectory.com.
As an alternative, you might try to contact real estate agents or banks in your country of interest. You might also get European lender references from large lenders here in the U.S.
The concept of having a land trust is that someone wanting to sue you will not find your assets. A lawyer will not take a case unless there is money to be had.
I would have made my own LLC the trustee (not a friend) of the trust and then added an "Assignment of Beneficial Interest" naming my 2nd LLC. In this assignment, the Trust assigns your LLC 100% of the total beneficial interest of the property in question.
I use landtrusts all the time and a few years ago I was involved in a lawsuit in which I was compelled to disclose my beneficial interest in the landrust in order to not perjure myself.
Quote:
On 2005-06-21 00:39, laurian wrote:
The concept of having a land trust is that someone wanting to sue you will not find your assets. A lawyer will not take a case unless there is money to be had.
Yeah, they can always force you to disclose. There is probably a cost to the person who is doing this, so they would have to be pretty motivated. I figure some people just go on a fishing expedition to see if you are a worthwhile target. A land trust would prevent immediate disclosure, and they may not want to go any futher. If your LLC is the beneficiary of the trust, that would give you some protection if you are forced to disclose.
Quote:
On 2005-07-03 15:01, Darryle-CA wrote:
I use landtrusts all the time and a few years ago I was involved in a lawsuit in which I was compelled to disclose my beneficial interest in the landrust in order to not perjure myself.
Quote:
On 2005-06-21 00:39, laurian wrote:
The concept of having a land trust is that someone wanting to sue you will not find your assets. A lawyer will not take a case unless there is money to be had.
From my experience,the best way to use a landtrust is in conjunction with a dual option agreement.
Quote:
On 2005-07-03 16:05, laurian wrote:
Yeah, they can always force you to disclose. There is probably a cost to the person who is doing this, so they would have to be pretty motivated. I figure some people just go on a fishing expedition to see if you are a worthwhile target. A land trust would prevent immediate disclosure, and they may not want to go any futher. If your LLC is the beneficiary of the trust, that would give you some protection if you are forced to disclose.
Quote:
On 2005-07-03 15:01, Darryle-CA wrote:
I use landtrusts all the time and a few years ago I was involved in a lawsuit in which I was compelled to disclose my beneficial interest in the landrust in order to not perjure myself.
Quote:
On 2005-06-21 00:39, laurian wrote:
The concept of having a land trust is that someone wanting to sue you will not find your assets. A lawyer will not take a case unless there is money to be had.
Maybe if you invest in a particular area name your LLC after the neighborhood name or county name?
I have never set up an LLC, but i think that i do remember someone saying that they name their LLC after the property address. For example, 38 Green Street LLC