What do I need to know when buying property in Micronesia?

"When buying property in Micronesia, it is important to understand the local laws and regulations regarding real estate. It is also important to research the local market and be aware of any potential risks associated with the purchase. It is also important to have a clear understanding of the title and ownership of the property, as well as any restrictions or encumbrances that may be attached to the property. It is also important to be aware of any taxes or fees that may be associated with the purchase. Finally, it is important to have a clear understanding of the terms of the sale, including any financing options that may be available," explained one expat living in Micronesia.