You’ll need to be prepared for a major step like investing in foreign property. There are many television shows that show couples who were disappointed when building work was stopped, postponed or halted. They also see builders go bankrupt and their properties turn into money pits. If you follow a few simple rules, it doesn’t need to be this way.
Location is important
It’s tempting to buy in an area that you’ve heard is the “next big thing” and to take advantage of the low prices, but it’s safer to choose a neighbourhood with a good reputation. It is important to remember this, especially for first-time investors. If you choose a property located in a neighbourhood that is safe and has a proven market, your mortgage lender will be more receptive to your request.
Know the rules
Before signing any contract, make sure that you are aware of the legalities. To avoid situations where things do not turn out as you expected, make sure you are familiar with the laws of different countries and regions. For advice on Greece citizenship by investment, go to georgakilawfirm.com/services/golden-visa-programs
You should confirm that the current owner of the property has the title documents, and is able to sell. Your solicitor can check this information for you. When buying a new property, ensure that your solicitor confirms the title deeds exist. This has happened with some people who bought abroad.
When emails and phone conversations are being sent back and forth, it’s easy for information to be miscommunicated, lost or misinterpreted. It’s even more important when dealing with a language other than your own. You should always put everything in writing. It’s also a good idea to keep a record of your correspondence.