Guidance through the procedures and responsibilities of buying a property abroad is offered by a variety of advisors; however, you should be aware that many of them have a vested interest in ensuring that the sale goes ahead at all costs as their commission is dependent upon a completion.
Only an independent lawyer will have the client’s best interests at heart throughout the transaction.
Get legal advice before you start, that way you will have an idea
of what to expect as the process of buying abroad is very different to that in the
Cautious But Not Rude
Be guarded but not overly suspicious – not everyone is out to
cheat you and it is easy to offend.
Don’t believe all you hear, there are plenty of people prepared
to dramatise any previous problems and there always will be
It’s Not Like The UK
Your knowledge of the
Building techniques often are entirely different. You must accept that local methods will not be the same.
Know What You Want
Think about your property “wish list” before speaking to an agent.
Recognise that you may have to be flexible.
Arrange your desired features in an order of importance and
decide which ones you can live without if necessary.
Don’t get carried away and end up over stretching financially.
Draft a proper budget. Your lawyer can help you assess the amount of taxes and fees you will have to pay.
Keep aside a small sum of money for any unexpected costs.
Keep Your Money Safe
That the bank loan guarantee is in place, if you are buying a
new build property.
Your deposit should be sheltered in your lawyer’s client account until it can be safely moved to the builder.
Choose a lawyer who is truly bilingual – it is far better to have a
lawyer who doesn’t just speak the language but also understands the culture and can see through suspect practices
to the hidden meanings and potential risks.
Get to know the place and the people – seek out as much local
knowledge as you can.
If you can speak the language make an effort to speak to the
|Name: karl Speller