Buying Property Abroad: Laws And Procedures
|Money : Overseas Property
The biggest stumbling block for many people who buy overseas is not finding the property they want. Nor is it sometimes the budget.
The biggest issue comes with regards ignorance of local laws, both the general law of the land, and specifically with regard to property.
Therefore if you are buying abroad, do all the research you can to find out and understand how to buy abroad and what you need to do, what will be expected of you, and the costs that you will have to meet.
For instance, you must have a fiscal number in Spain for any financial dealing, and generally across Europe rules vary from country to county.
A good tip would be to get friendly with a local in the area who can help you and give you tips.
If the foreign language is not your strong point, this can be invaluable, as can be employing the services of a local accountant to help handle your affairs: whilst they may cost a little more, overall ensuring there are no slip ups can be worth its weight in gold.
Questions about overseas property: