The biggest one is taking legal advice from the other side. The agent is paid on completion, which is a different interest than acting for you. An independent lawyer costs a small fraction of the purchase and is the single best safeguard.
Putting your name to untranslated contracts ranks close behind. A certified translation is inexpensive next to the sum being committed. Promises made in conversation will not help when the written text differs — the document governs.
Committing to an unbuilt project blindly has damaged a great many buyers. Ahead of a deposit, look at the developer’s completed projects, the building permits, and the guarantees on staged payments. Projects running behind schedule happen frequently even with reputable builders; unfinished projects are the exception but much more damaging.
Ignoring the exit is a subtler error. A home bought abroad has to be sold or passed on at some point, and the pool of future buyers matters. A buy property in portugal with no local demand sells slowly when conditions change.
Lastly, plenty of purchasers underestimate the annual paperwork. Tax filings are often required even cheap houses in illinois years with no rental income, and andalusia apartments missed deadlines generate fines that grow over time. Setting up a local accountant at the outset avoids most of these problems.
Recent Comments