Factors to consider when buying property overseas
Wednesday, October 8th, 2008 
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- If and when you have decided to purchase property abroad, go to that country’s embassy and inquire about the legal aspects of purchasing property, necessary permits, tax laws, planning permission and renovation rules. Better yet, get a good lawyer in that country to help you with all the legalities.
- If you plan to make this a rental property investment , think about how you are going to market this especially during non peak season and still make a return on your investment.
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Set up a bank account in the country you wish to move to. This will serve as your emergency fund say, in case, sudden repairs are needed
- Find a good real estate broker, they are bound to be knowledgeable about the area and other properties in the market. But, be aware also that there agents/brokers who discriminate against foreigners. They have a different selling price for locals and an inflated one for foreigners. A reputable real estate company however, does not practice this.
- Do be sure that the property you want to buy has a clean title – meaning the seller is actually in a position to sell said property. There have been cases where upon closer scrutiny, the property is actually being contested by another party due to some past political takeovers in the area.