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

Purchase contracts in Spain

When buying a property in the UK you may be used to there being a purchase contract. When buying in Spain there may be several different types of contracts to sign and there may indeed be several in one transaction. Unfortunately these different types of...

Insurance and Specific Risk policies on foreign properties

Unless you have bought property in the USA you may not have heard of Title Insurance. Title insurance is, in effect, an indemnity insurance policy which protects against financial loss as a result of defects in the title to the property. It is not a...

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...
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