When buying an overseas property, it's vital that you get reliable independent legal advice before you purchase a property. Instructing an overseas property lawyer will be an additional cost, but this needs to be factored in to your figures. Using a lawyer when buying abroad is probably even more important than when buying in the UK.
An independent lawyer (not one recommended by a developer or who is in some way involved in the transaction) will help to inform you about possible problems and issues, and protect you from future problems with your new home. Your lawyer will conduct revelant searches, translate documents, check licences and ensure the property has been built legally without any legal claims on the property from a third party.
Typically, lawyers fees will be between 1% - 2% of the purchase price, although can vary by country or property price. Don't be tempted to scrimp on legal costs - following the right process now could save you a lot of trouble down the line!
A word from our sponsors...
Judicare specialise in helping clients with all legal issues abroad – whether buying or selling a property, probate and inheritance issues, recovering monies invested into problematic property abroad, general litigation and timeshare issues.
If you are looking for independent legal advice on the acquisition of a property abroad, whether it be for investment or lifestyle, Judicare can guide you through the entire process to ensure your purchase from initial reservation through to a successful completion is both safe and secure.
Judicare offer a comprehensive service that covers every aspect of your overseas property purchase. With client - services head office located in the UK, the focus is always on making your experience as hassle free as possible. Click here to visit the Judicare website.