Buying Property Abroad

If a vacationer has love to a resort, then he considers to buy a property there. Whoever buys property where he lives can trust the well-known rules. Nevertheless, the legal situation abroad is often different. In popular tourist countries one can find not only excellent vacation property. There are also many frivolous sellers and brokers who impose upon careless strangers to buy overpriced items. On we want to provide you with some global tips and hints for buying apartments and holidays homes abroad, so that the dream property would not turn to be the real nightmare for you. Please, note that this is only a general guide and we do not anyone provide with then legal advice.

When buying property one should always pay attention to some rules – no matter whether they are required by law or not.

1. Always buy only the property you have seen with your own eyes. Please, do trust good prospect or sent videos.

2. Always insist on a contract being notarized, although it is not compulsory according to the Land Laws. Beware of the preliminary intention or written statements – in some countries these are already binding agreements.

3. Before buying vacation property abroad, check if there are any structural defects or do it with the assistance of an expert. Make sure from the official bodies that there are no usage restrictions or obligations of the property. Make sure with the official bodies if the development costs are opening, a renovation or expansion would be approved.

4. Never let be imposed black buildings upon you. They lose any legal protection.  You may pay a fine.

5. Take access to the registration book. Check if the seller is really the owner? Loads of mortgages on property? Can other people to sell the property too?

6. Let all the contracts and written agreements be translated competently. If doubt or if the country’s language is not perfectly controlled then it is better to find an interpreter to take the certification.

7. Consider that when purchasing property abroad the prices for the purchase and financing can be much higher than in your country. Additional costs for evaluation of the object, testing of ownership, translations, certification and financing can be easily in the double-digit percentage range.

About the latest tips and advice for the purchase of foreign real estate you can consult. An independent contacts, for instance, the Deutsche Schutzvereinigung Auslandsimmobilien e.V , Zähringer Str. 373, 79108 Freiburg phone: 0761-55012.

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