Common Mistakes When Buying Property In Another Country

The costliest error is relying on the seller's lawyer. The agent earns money on completion, gonyeli sea view townhouses which is not the same as protecting the buyer. Your own legal adviser represents a fraction of what is at stake and is the single best safeguard.



Putting your name to untranslated contracts is nearly as costly. A certified translation costs little next to the purchase price. Verbal assurances mean nothing once a dispute starts — only the signed text matters.



Purchasing off-plan on trust has damaged a great many buyers. Before any payment, examine what the company has already delivered, the building permits, and balearic islands property the guarantees on staged payments. Late deliveries are normal even with reputable builders; stalled projects are less common but much more damaging.



Ignoring the exit is a subtler error. A home bought abroad will one day be sold, bang tao investment property and the pool of future buyers decides what you get back. A unit attractive only to a narrow group sells slowly when conditions change.



Last of all, a lot of buyers fail to plan for the running costs. Tax filings can be required even in years with no rental income, and late filings attract charges that grow over time. Putting in place a local accountant from the start prevents the majority of these headaches.