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Buying New Property Overseas

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  • Buying New Property Overseas

    When buying a property outside the UK, who should get involved, what organisations should be notified and are there any processes to follow that is not required when buying in the UK.

    You often hear of these scenario's on TV programmes where people have no rights to their home after 5 years of living there and the authorities are trying to flatten it all because they didn't speak to the relevant people or obtain the necessary paperwork.

    Any advice appreciated, many thanks in advance

  • #2
    Re: Buying New Property Overseas

    I heard these horror stories only about Cyprus...

    Comment


    • #3
      Re: Buying New Property Overseas

      Originally posted by zigojacko View Post
      When buying a property outside the UK, who should get involved, what organisations should be notified and are there any processes to follow that is not required when buying in the UK.

      You often hear of these scenario's on TV programmes where people have no rights to their home after 5 years of living there and the authorities are trying to flatten it all because they didn't speak to the relevant people or obtain the necessary paperwork.

      Any advice appreciated, many thanks in advance
      It all depends on which country you are buying property in. Where are you looking? Are you looking seriously?

      Comment


      • #4
        Re: Buying New Property Overseas

        Hi everyone.

        Ever considered Thailand in your wishlist?

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        • #5
          Re: Buying New Property Overseas

          Originally posted by abalaois View Post
          Hi everyone.

          Ever considered Thailand in your wishlist?
          Yes actually. But its all about what to do in the land of wats.

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          • #6
            Re: Buying New Property Overseas

            I would suggest that the best source of information is the UK embassy for whichever country you are considering.
            Ozsubasi FMS Homes have property for sale in Altinkum, Turkey and surrounding areas.

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            • #7
              Re: Buying New Property Overseas

              Certainly agree with @ozsubasi here evern though the offers might seem enticing is always to lay a bit of caution before you make your move. And remember everything that glitters is not gold. A detailed analysis of the overall development of the specific country needs to undertaken. How are their property markets, How much will be value appreciated over a period of 5 years and so on. Too many questions needs to be answered.
              Buy To Let Mortgages | UK Buy To Let Insurance from the Experts

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              • #8
                Re: Buying New Property Overseas

                I think that the important thing here is to find out for yourself what documentation is needed, and what it means. In other words do not rely on what the selling agent tells you.
                Where I am, in addition to the hundreds of estate agents, any bar or restaurant will have a waiter or two who has an uncle or a cousin who has an absolute bargain home for sale. People from the UK would not by a house from a barman in a pub, but they do it when they come here. Common sense should prevail.

                The actual processes vary from country to country, which is why I suggested in an earlier post that the embassies are a good source.

                As to who you should notify, it depends on what you are going to do with the property. If for example it is just a holiday home for you and your family you don't need to tell anyone, but if you are going to rent it out or you are trading in property for profit then that is something different.
                Ozsubasi FMS Homes have property for sale in Altinkum, Turkey and surrounding areas.

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