FAQs: Buying property abroad
How can I find somewhere for sale abroad?
You can find property for sale abroad in a number of different ways; you could visit an estate agent local to the region if you have a particular destination in mind, you could use a specialist estate agents in the UK, or you could use the internet where there are many websites dedicated to helping you find a property abroad. Regardless of which method you choose it is always advisable to personally view the property before committing to buy.
Can I purchase a property anywhere?
There are a number of possible restrictions which could prevent you buying a property. A number of countries for example don’t allow foreign property ownership or place conditions on the amount of investment which is required before you will be allowed. It is therefore always advised to seek professional advice in order to ascertain your rights.
Are the rules the same when buying a property abroad compared with the UK?
It is very unlikely that the rules will be the same when buying a property abroad. This is because the exact rules will depend on the country’s local land and property laws. It is therefore very important to find out what the local laws are prior to signing any contract.
If I buy abroad will I be able to rent the property as a holiday home?
Once you have purchased the property you will be able to rent it out to tourists. Although in order to do so many countries require you to obtain a certificate. It is also worth remembering that you will have to pay tax in both the local country and here in the UK on any income you make.
How could a solicitor help me?
A solicitor will be able to advise you whether you are able to buy and what the correct procedures are for that country. A solicitor will also be able to advise you what the best way to exchange the money is, and how to obtain a certificate to enable you to rent your property.
If you would like to obtain legal advice on buying a property abroad, Caven can put you in touch with a local solicitor free of charge. So, if you have any questions or would like our help in finding local solicitors please call us on 08001 221 2299 or complete the web-form above.
- Last Updated on 19/09/2012
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