If you are buying a property outside of your main country of residence, getting an independent lawyer or solicitor should be a must. The buying process is likely to be different from country and your lawyer will be able to help you with all of the necessary tasks for a smooth purchase. Just a few of the tasks that most lawyers will take on your behalf may include:
- Translating and interpreting all legal documents
- Handling and placing of deposits and other fees
- Understanding and if needed, amending contracts to safeguard your interest
- Drawing up a Power of Attorney if you are unable to attend the final signing
- Checking over the searches and the final conveyance document that will transfer ownership of your new home to you
There are a few issues that can crop up when purchasing a property overseas. The most common problems to look out for are properties with no title deeds, taxes being owed on the property that are then inherited by the buyer and in more severe cases; properties being built without planning permission and having to be demolished. You should also try to find out what building work is planned in the local community, in particular the space around the property you are buying as any development work done may have an effect on the price of your home.
Take advice on residency and property ownership from a well-informed independent legal advisor that can speak both English and the language of the Country in which you are purchasing.