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Buying a Property Abroad

Richard WayOverseas property-buyers should heed warnings not to rush into a purchase after just one short viewing, following a recent survey that showed the average viewing in the UK takes just 33 minutes.

A competitive UK housing market also means that one in four buyers makes just a single visit to a property before deciding to purchase it according to a leading insurer who published the survey. They also cautioned that rushing into decisions could lead to costly maintenance issues after completion.

 

 

The issue is arguably more poignant for people buying property in a foreign market, where they don't speak the language and typically are not familiar with either the buying process or local property law. Add to this the fact that people on a viewing trip abroad often feel the weight of having a limited amount of time to find and secure a property before flying back to the UK.

For this reason, using a reliable estate agent is more important when buying abroad than in the UK, as they understand the time constraints and extra requirements that UK buyers face in a foreign country.

Listen carefully to what the estate agent says. Is he making promises that he is unable to keep and raising expectations beyond reasonable levels. If the agent fails to keep appointments or to show you the sort of property that you want to see then he isn't listening to you and doesn’t really have your interests at the forefront of his mind. Talking to professionals will save time and heartache in the future.

image005Written for Fuertenews.com by Richard Way, Editor, The Overseas Guides Company

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