Buying Abroad

One of the most common misconceptions people tend to have when buying a property abroad is a belief that things will follow a similar path as buying a property at home. It is important to understand that buying costs, timescales and even the legal process will be very different in foreign jurisdictions.

In continental Europe and many other countries, for example, they use the Notarial system whereby the Notary will witness the transfer of the title. In some countries contracts are signed earlier in the process, even before any searches have been carried out on the property being purchased. There may also be the expectation for you to sign a reservation contract and pay a reservation deposit prior to signing the full purchase contract and paying the full purchase deposit.

News

Communal areas and Community of Owners for properties in Italy

If you are buying a property abroad which is in a complex then the likelihood is that there will be some form of Community of Owners. You will own your property and also a share of the communal areas – after all somebody has to own them. This is...

Company ownership of foreign property

We are often asked about the various options and structures of owning a property abroad through a company. The theory is that if you put a property abroad into the name of, for example, a British company, then should you sell the property or should you die...

The effects of Brexit on property owners and buyers in Europe

After the result of the Brexit Referendum we are frequently asked about the effect of this by both current and potential property owners within Europe.  The reality is that until Article 50 is invoked there is no change and all the rights that owners...

Bankers Drafts - why are they used to buy property abroad?

In many countries the final payment for the purchase of a property will be done via a Bankers Draft. Having typically paid a reservation fee or initial deposit to secure the property and having hopefully instructed an independent lawyer to conduct all of the...

Buying property in Spain in Sterling

With British people being one of the main groups of foreign owners of properties in Spain it is hardly surprising that occasionally a British person sells his or her Spanish property to another British person. Typically, we see the buyer initially converting...
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