COLD SPRING HARBOR, NY - Daniel Gale Sotheby’s International Realty, one of the nation’s leading realtors, recently co-hosted an informational panel discussion and reception designed to help real estate and other professionals facilitate real estate transactions with international buyers. “Working with the International Buyers: Challenges and Solutions” brought together a panel of mortgage and bank officers and tax specialists to identify and discuss pertinent issues. The program was organized by a Daniel Gale Sotheby’s International Realty team that included James P. Retz, SVP of Marketing and Technology; Christine Petersen, General Manager of Global Relocation & Referrals; Deirdre O’ Connell, General Sales Manager; and John Pan, associate real estate broker and Head of the Asia Desk. Guardhill Financial Group, Cathay Bank, Wells Fargo and Emigrant Mortgage Company co-sponsored the program and the law firm Forchelli, Curto, Deegan, Schwartz, Mineo and Terrana, LLP (Forchelli Curto) hosted the event at the Omni Building Teleconference Center in Uniondale. Among the close to 80 attendees were board members and other members of the Asian Real Estate Association of America (AREAA), Daniel Gale Sotheby’s sales professionals and managers, and numerous real estate attorneys and loan officers.
“With the number of international buyers interested in Long Island real estate, we saw a critical need to provide our sales professionals and other industry leaders with valuable information and insights to help them to navigate real estate transactions with international buyers and sellers,” said Deidre O’Connell.
The discussion addressed a number of pertinent issues that affect real estate transactions, among them: the Patriot Act; money held in foreign bank accounts; the importance of establishing U.S. bank accounts; the different loans available for investment properties and owner occupied homes; translation of important documents; the role of the American Consulate; understanding real estate and other U.S. taxes; and the step by step processes critical to bringing the buyer and seller to the closing table.
Panel members included: Alan Rosenbaum, CEO and Founder Guardhill Financial Group; Tom Tang, Assistant Vice President, Cathay Bank; Charles Ruffin, Account Manager, Emigrant Mortgage Company; Kennis Tong, Senior Mortgage Consultant, Wells Fargo; and Robert Renda, Real Estate Tax Specialist, Forchelli, Curto. Robert Moy, a Partner at Forchelli, Curto, moderated the panel.
The program was very well received, and future events are in the planning stages.
About Daniel Gale Sotheby’s International Realty
Founded in 1922, Daniel Gale Sotheby’s International Realty consistently leads the nation in achieving one of the highest average sales prices in the country. Daniel Gale Sotheby’s is a $2.5 billion dollar organization with 850 sales associates in 27 offices spanning Long Island and Queens. Services include a Relocation Division, an award-winning Marketing & Technology Department, a Development Marketing Group, Commercial and Rental Divisions; and Ambassador Abstract title company. The Sotheby’s International Realty® affiliate for Long Island and Queens since 1976, Daniel Gale Sotheby’s has gained national and international recognition, including top honors worldwide. In addition to its place on the Regents Board of "Who's Who in Luxury Real Estate," Daniel Gale Sotheby's International Realty is active in Real Trends, The Asian Real Estate Association and The Realty Alliance (comprising some of the real estate industry's most influential companies with participation "by invitation only"). For more information, visit www.danielgale.com.