Common Mistakes When Buying A Home In Another Country

The most expensive mistake remains using the agent's recommended lawyer. The developer gets a commission only if the sale goes through, which is not the same as protecting the buyer. Your own legal adviser costs a fraction of what is at stake and is money well spent.



Signing in a language you do not speak ranks close behind. A certified translation is buy a home in greece small expense next to what is at stake. Assurances given by the agent mean nothing if the written contract says otherwise — the document governs.



Committing to an unbuilt project blindly has wrecked plenty of plans. Ahead of a deposit, look at previous developments, egypt real estate the building permits, and how deposits are protected. Late deliveries happen frequently with even the best developers; abandoned sites are rarer but far worse.



Forgetting about resale is a quieter mistake. Every purchase will eventually be sold, and the resale market matters. A home attractive only to a narrow group takes longer to sell when sentiment turns.



Lastly, plenty of purchasers misjudge the annual paperwork. Annual declarations may be required regardless of whether the property earns anything, and late filings attract fines that grow over time. Putting in place a local accountant from the start heads off most of these problems.