Common Mistakes When Buying Property In Another Country

The biggest one is relying on the seller's lawyer. The agent is paid when the deal closes, which is not the same as acting for you. Your own legal adviser costs a fraction of what is at stake and is the single best safeguard.



Putting your name to untranslated contracts comes a close second. A certified translation is inexpensive compared with what is at stake. Promises made in conversation mean nothing when the written text differs — the contract is what counts.



Purchasing off-plan on trust has damaged a great many buyers. Before paying anything, cikcilli real estate examine what the company has already delivered, the construction licences, and primosten real estate whether payments are held buy property in fuengirola escrow. Projects running behind schedule are common even with reputable builders; stalled projects are less common but far worse.



Thinking only about the purchase is a quieter mistake. Every purchase has to be sold or passed on at some point, and the resale market decides what you get back. A unit that only appeals to foreign buyers takes longer to sell when sentiment turns.



Last of all, a lot of buyers misjudge the running costs. Local tax returns can be required even in years with no rental income, and overlooked notices generate penalties that accumulate quietly. Putting in place a local tax adviser from the first year avoids most of these problems.