6 Common Problems Solved by Hiring a Process Agent

When you’re involved in a cross-border property transaction, you probably want to move fast. But paperwork can be the thing that slows you down, especially when you’re dealing with different legal systems.

If you’re buying or financing real estate in a jurisdiction where you don’t have a physical presence, you’ll probably want to hire a process agent. They’ll act as your official contact for any legal notices and documents related to your contracts, which can solve a whole host of common problems when you’re trying to close a deal.

Here are six of the most common issues that you can solve by hiring a process agent for international property deals:

1. Missing Time-Sensitive Documents

When you’re issued a legal notice, your mortgage agreement and real estate contract’s conditions will likely include strict deadlines for your response time. Appointing a process agent means you can make sure you actually receive the documents in the first place, with plenty of time to act.

2. Delays in Loan Completion

In most cross-border transactions, the lender won’t release funds without proof that you have a process agent. You can typically avoid stalling deals by appointing a process agent, like UK-based Point Processing, early in the process, so you can keep your mortgage or property purchase on track.

3. Confusion over Jurisdiction Requirements

When you’re trying to decipher real estate and mortgage contracts governed by foreign law, there’s a good chance that you’ll come across service requirements that you’re not familiar with. A big benefit of appointing a local process agent is that they’ll already know the legal requirements in their jurisdiction, so they can make sure every document is served correctly.

4. No Local Contact Point

If your business or personal address is outside the country where the property is located, you can make things pretty complicated for the other parties to the deal. Without a local address, they may not have a way to send you formal notices, which might be enough of a hassle to result in them stepping away from the deal. But when you’re using a process agent, the other parties have ga secure and recognised contact point, which should make them more confident to move forward with the transaction.

5. Extra Costs from Incorrect Service

If your documents don’t get served correctly, you might end up facing extra legal fees or having to delay your deal. In a worst-case scenario, you might even have to waste time repeating parts of the transaction. You can avoid all this hassle by appointing a process agent, who should know the exact procedures for service in their jurisdiction, so you don’t end up paying for mistakes later.

6. Difficulty Handling Urgent Notices

Finally, any urgent notices you’re served in a property transaction will typically require you to take action within days or even hours. Rather than relying on international mail (which makes it near impossible to respond in time), you can work with a process agent to receive these notices immediately and forward them to you quickly..

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