Buyers Guide

      The following page contains general advice for purchasing a property abroad regardless of the location, followed by a selection of guides specific to each country. There are three main points to consider when planning any overseas property purchase;

Location
Law
Costs

      The first and most important factor to consider is the location in which you would like to purchase a property, this decision can be made on the basis of many aspects. If you are buying the property as an investment to be let out to holiday makers it may be unwise to choose a secluded property in a remote location, however if you are looking for a relaxing place for your own use to get away from the hustle and bustle of city life, seclusion may be exactly what you are looking for. The location you choose will have even more bearing if you are looking to re-locate to your new home in the sun, there are many considerations from work and schools to hobbies and past times; it is no use buying a villa in the south of Spain if you plan to take up skiing.

      The second factor that must be considered is the local law, firstly are you allowed to own property in the country which you desire. Until a few years ago foreigners were not permitted to own property in Dubai for instance, however now foreign investment is encouraged and owning a property there entitles you and your immediate family to a residence visa. There may also be other laws concerning the purchase of property in your chosen country from laws relocating to the purchase procedures to those relating to inheritance laws. Another important legal matter to consider is what happens if you pull out of the sale at any point; you may find that it becomes very expensive to back out after agreeing to purchase.

      The third factor to consider is costs involved. The cost of the property its self will not be the only one to consider, there are the legal fees as well as any other fees relating to the local system. One example of this is in France where the buyer not only pays the Notaire's fees but also pays the agents fees for marketing the property. This is an area to look into very carefully as hidden costs can jeopardize the whole buying process and having to pull out due to unexpected costs can turn out to be expensive.

      These points must be considered when buying any property overseas regardless of the country in which you are buying, however this information is only meant as a guide and professional legal advice must always be taken before embarking on any overseas purchase.

Individual Country Buying Guides
Cyprus Florida
France Spain

 

 

 

 

 

 


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Bury St Edmunds, Suffolk, IP33 1NE

tel: 0044 (0)1284 700462

www.overseasopportunities.co.uk