People want to buy property abroad for many reasons – wanting a different lifestyle, somewhere to retire or a potential investment. However, there are number of issues to be aware of before you purchase property in another country.
Check local laws
This may sound obvious but you always need to check carefully the rules and regulations of a local area. Unfortunately, there may be some illegal building work and this could potentially mean you do not have any legal protection.
Get it in writing
Ideally you should take note of any correspondence while you are negotiating a purchase as well as receipts for any purchases you have made (preferably in print rather than an electronic receipt as you have physical proof).
Do they own the property?
This is another point that may seem obvious – however, sometimes someone may claim to own land or a property without actually being the owner. Equally someone in debt may offer it as collateral, therefore it is very important that you verify this before you make a purchase (you should also check that they do not owe any outstanding bills).
If you are considering passing on a property outside the UK, you need to check inheritance laws in the country that you are moving to as they could potentially differ from the UK.
Check the contract
As with any form of purchase you need to check what you are signing up for and being aware of what you are paying for. Given that you could potentially be negotiating with someone who doesn’t speak English as a native language it is advisable to have a translator or someone to hand who can speak in the language of the country you are moving to.
If you are concerned about any of these issues and would like to know more, please get in contact with us. As with any legal issues we have both the resources to represent you while offering the customer service you deserve.