Immigration documents, financial records, licenses, and certificates are at the top of the list of documents that seem in obvious need of translation. However, with the increasing amount of real estate transactions that involve foreign players, there is a growing need for professionally translated documents. As it becomes easier to find buyers and investors all over the world, real estate professionals who handle individual and commercial clients should be prepared to do business with an international clientele. The quality and availability of important translated documents could make or break a sale.
Foreign Property Purchases Call for Professional Translation
According to a report by the National Association of Realtors, foreign buyers purchased $153 billion of residential property from April 2016 to March 2017, with the major buyers being from China, Canada, the United Kingdom, Mexico, and India. When buying properties abroad, foreign buyers take many factors into consideration, such as home country proximity, employment, and educational opportunities, climate and more. Buyers also gravitate toward documents that are properly translated. A study by the Kleimann Communications Group reveals that participants were highly trusting of translated information and were quick to associate good qualities with documents that were in their language.
English-only Documents Don’t Cut It Anymore
The most commonly translated real estate documents are real estate appraisals, loan agreements, title deeds, lease agreements, corporate real estate documents, rental house agreements, and purchase and sales agreements. If you have any of these documents, consider working with a professional translation company to have them properly translated. Online translations and plugins may be tempting, but all they do is give your client a vague idea (sometimes) of what they are reading. Such material should never be used in public listings or official documents.
At TransForma, we understand the real estate business can be one of the most time-sensitive industries. That is why we’ll work with you to provide your business with quotes and deliverables, accurately and efficiently. With the international real estate market growing rapidly, more buyers and sellers are purchasing and selling properties abroad. It is extremely important that these transactions meet deadlines and are seamless for both parties. Giving buyers and sellers access to native-language resources, contracts, etc. facilitates business, gains client trust and increases client loyalty.TransForma can assist buyers/sellers in meeting deadlines for time-sensitive negotiations and translating all other resources. Contact us at (305) 722-3827 or firstname.lastname@example.org.