Buying property abroad? Top tips to follow

Buying a property in the UK is a hard-enough task and buying abroad is even harder to manage. From the language barriers that spring up when carrying out a transaction in a non-English speaking nation to the risk that standard property due diligence might be hard to secure, there are lots of reasons why many potential international buyers decide not to proceed.

But you shouldn’t let that put you off going ahead with an international property exchange. Just think of all the positives of making a move like that: from breaking into an international market which may well be more lucrative than the domestic one, to ensuring you have a holiday destination on tap for the rest of your life; there are lots of reasons to make the move. With that in mind, this article will share some top tips on buying foreign property.

Think about currency exchange

When buying a property abroad, you’ll have to transfer your cash from the UK to the new destination. You might be arranging mortgage finance with a lender in the new place, for example, or you may be buying directly from the seller. Either way, cash will need to cross borders at some stage in the process.[Continue Reading…]