A NOTE FROM THE EXECUTIVE DIRECTOR: These Errors May Cost You Your Property in the US
A NOTE FROM THE EXECUTIVE DIRECTOR
Owning a property in the US It represents an excellent opportunity, but an investor must also be cautious to keep his assets.
Lack of knowledge about the US legal system It can literally cause another person to take possession of their property through a lawsuit, as illustrated in the 2 stories below.
Simple Errors That May Afford Investors Their Property
Case # 1: Ignoring the Association of Community Owners (HOA) resulted in a foreclosure
An investor bought a house, but did not pay the monthly fees of the Association (known as HOA in the US).
Being an international owner, the investor did not set up an appropriate postal address to receive letters from the Association and did not realize what was happening until it was too late.
A few months later, the community association hired a lawyer to sue the landlord for unpaid fees and this resulted in a foreclosure.
Case # 2: Hiring a maintenance worker who did not have insurance resulted in a very expensive lawsuit
An investor hired an uninsured maintenance worker to repair the roof of his property. The worker slipped and got injured, and decided to sue the owner.
The cost of such demand can easily exceed $ 100,000. The investor may have to sell his property to get the money …
These simple mistakes could have been easily avoided, but the investors had no one to advise them about the danger of possible lawsuits.
To Avoid Committing an Expensive Error, You Need A Property Manager With Experience And Knowledge About Property Laws
This is the service that Bahia offers to hundreds of investors in more than 23 countries. Contact us today and we will gladly discuss the situation of your property.
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