The Most Common Mistakes When Buying Property Abroad

The costliest error is using the agent's recommended lawyer. The developer gets a commission only if the sale goes through, which differs from acting for you. Separate legal representation represents a fraction of what is at stake and is money well spent.



Signing documents you cannot read ranks close behind. A certified translation is a small expense compared with what is at stake. Verbal assurances mean nothing when the written text differs — the contract is what counts.



Purchasing off-plan on trust has wrecked plenty of plans. Before any payment, review the developer's completed projects, the building permits, and the guarantees on staged payments. Delays are common with even the best developers; unfinished projects are less common but much more damaging.



Forgetting about resale is a subtler error. A home bought abroad will eventually be sold, and the resale market determines the price. A unit that only appeals to foreign buyers is harder to move when conditions change.



Last of all, plenty of purchasers underestimate the ongoing obligations. Tax filings can be required even when the home sits empty, medulin real estate and late filings attract charges that accumulate quietly. Putting buy property in greece place a local tax adviser from the first year avoids most of these problems.