Once the client finalizes the property, he or she will submit an offer to the property. If the seller accepts the offer, an escrow account will open. Once the title is acquired, the purchase is finalized.
The local Build Block Asset Team will directly oversee the remodelling or lease of the property. Depending on the strategy, Build Block may execute FLIP or ADU construction or rent out to tenants.
Thanks to Build Block’s periodical facility review and construction report, investors in Korea may access the property thousands of miles away.
Once Build Block and the client agree on the optimal time to sell the property, BuildBlock will list the property online. BuildBlock will host in-person visits and open houses, accept different offers to select the highest priced offers. Once finalized, BuildBlock will open a seller’s escrow account.
Just like the purchase process, once the contract is finalized and the remaining money is paid, the title will be transferred to the new owner.
BuildBlock will divide the profit with the client based on the agreed terms and draft Investment Closing Report. Upon closing, BuildBlock will guide you through the remaining paperwork that the client must submit to the Korean banks, such as Annual Business Report and Foreign Securities Acquisition Post-Investment Report. If requested, BuildBlock will also guide the client on filing taxes to IRS.
Clients who wish to reinvest or increase their investment may be able to do so using the LLC he or she opened in the beginning.