Common Mistakes When Buying Property In Another Country

The costliest error remains relying on the seller's lawyer. The seller is paid on completion, which is not the same as looking after your interests. Your own legal adviser represents a small fraction of the purchase and is money well spent.



Signing documents you cannot read comes a close second. A certified translation costs little next to the purchase price. Assurances given by the agent will not help once a dispute starts — the contract is what counts.



Buying off-plan without checking the developer has damaged many budgets. Before any payment, look at previous developments, the construction licences, and whether payments are held in escrow. Late deliveries are normal with even the best developers; unfinished projects are less common but much more damaging.



Forgetting about resale is less obvious but just as costly. A home bought abroad will eventually be sold, and the resale market determines the price. A kissonerga property prices that only appeals to foreign buyers is harder to move in a weak market.



Finally, a lot of buyers fail to plan apartments for sale in porto heli the running costs. Annual declarations may be required even when the home sits empty, and cheap land for sale in greece overlooked notices generate fines that accumulate quietly. Putting in place a local tax adviser from the first year avoids the majority of these headaches.