Hello from Saudi Arabia

[Ruka Ishihara]

Hello Community! My name is Ruka, but I go by Luke. I work in Saudi Arabia at the world's largest oil company. I am interested in buying real eatate in Chicago, a city I went to grad school in and where I got my first job. Since I don't have a lot of time to spend while doing the purchase, I hope to do as much research online before I visit - maybe about once a year - and then hit the pavement. I am wondering a few things:

1. Are there other investors here based in foreign countries doing similar things? If so, please share with me your experience, pitfalls, horror stories, etc.

2. I am hoping to send my down payment and closing costs to title companies directly with a wire transfer. Do title companies usually accept this or only accept paper checks? (Sorry for such a specific question.)

Thanks a lot! Looking forward to future interactions!

[Crystal Smith]

Originally posted by @Ruka Ishihara:

Noob question(s0, but why should I have an attorney for these kinds of deals? If I send the money directly from a bank in anywhere, will it matter?  How is it different from buying a home locally?  I bought a house and paid a check for down payment and closing costs.  Will this process be different?

 As @Brie Schmidt said Illinois is a state where closings are orchestrated by attorneys.  My recommendation though goes beyond just having an attorney to represent you in closings.  While this isn't for everyone, I assumed from reading your post that you  would be a candidate for an attorney w/ that manages Trust accounts (Accounts established on client's behalf & managed locally by the attorney.)  Why is this important?  You'll be competing in an environment where the difference between winning or losing a deal may the terms on the contract.  Terms where speed of execution & closing may be more important than price.  Having someone @ a local level that can act on your behalf w/ speed may be the difference between executing your plan & not becoming frustrated.