Buying abroad is both exciting and scary. If you don’t know where to start, a property agent can help.
Here are the main reasons you should consult an agent such as iad, who can help turn your dream of buying property abroad into reality.
Expert knowledge of the local market
Prices can be extremely varied in different areas, and you may not understand why as a non-local. This is where an expert property agent can give you an insight into the region, tell you the best places to buy and use their expertise to predict how the market might change.
For example, you might wish to live by the sea in France, need to be near international schools or want to know if you need a visa to live in Mexico. A local property agent can guide you through the maze of questions you may have.
Understanding the legalities
Having expert legal advice in a foreign country is invaluable. Trying to understand the different property laws abroad can prove extremely difficult and this is one of the factors of buying abroad that you cannot afford to get wrong.
While iad Overseas agents are not lawyers, they will use their expertise to advise on things like foreign land ownership and can put you in touch with a reputable lawyer when the time comes.
For example, foreigners are not permitted to buy property within 100 km of the Mexico border and 50 km of the coast. However, a scheme called the ‘fideicomiso trust’ gets around this legally, by the bank purchasing the property and the buyer having the rights to it.
Local contacts
A local property agent will have worked with contacts such as lawyers, builders, architects and surveyors. They can give you recommendations for trustworthy contacts, including who to approach if you need to finance your property purchase abroad.
They will also be able to recommend contacts once the sale has gone through, such as rental agents, cleaning companies, pool cleaners and gardeners.
Experience managing property buying and selling abroad
Are you investing in seasonal rentals to make money, moving your family or retiring abroad? Our iad Overseas agents have years of experience helping people buy and sell homes abroad. They live in the country and can give you insider knowledge of what it’s like day-to-day.
Save time and money
Sometimes foreign buyers pay too much for property due to not understanding the local market. We will connect you with an iad Overseas property agent who’s familiar with local market prices to ensure you achieve the lowest price on your purchase.
An agent can also tell you about the local taxes you’ll be expected to pay, both on the property purchase and afterwards, so you can build the costs into your budget.
You might not have the time to be constantly trawling through websites trying to find the right home. This is when a local property agent can benefit you as they have access to the latest listings, often before they’re advertised.
Some agents will also conduct viewings on your behalf before you visit, saving valuable time.
It is still possible to buy abroad since Brexit. Understanding the implications of how long you can stay in a country is essential. A local property agent will be familiar with the regulations in the country you wish to move to.
They can also explain the Schengen rules, so you know how long you can stay in Europe if you’re a UK resident.
Breaking the language barrier
It’s easy to make a mistake and lose something in translation when buying property abroad. This is probably the biggest purchase of your life – iad Overseas property consultants are there to help it go smoothly and efficiently no matter what language is being spoken.
iad Overseas property agents are fluent in the local language and often speak several other languages. They’re familiar with property and legal terms and will explain anything you’re unsure about. They can protect you if you don’t understand the language and ensure you are not taken advantage of.
Insider knowledge
Many of the best properties are bought and sold without being advertised. Having a good relationship with a property agent who knows what you are looking for can make a difference when you’re searching for the property of your dreams.
Spain is still the top destination for UK property buyers, followed by the Germans, French and Belgians. In the last quarter of 2023 almost 10% of Spain’s property purchases were by the British, which shows Brexit has not deterred the Brits from escaping the cold and grey UK.
What to expect from your local property agent
Some of the key things a local property agent should offer are trust, professionalism and speed. You’ll find all of these with iad Overseas property agents, whether you’re investing in Cyprus, buying a holiday home in Greece or a villa in the Algarve in Portugal.
In addition to liaising with an agent who knows how to get a deal done, they should also be compassionate. Often property transactions can be emotional as well as stressful, and you need someone who understands your situation and needs.
Find your dream home abroad with iad Overseas
Buying property in your home country can be stressful enough let alone buying property abroad with the different laws, regulations and markets to consider.
Why not take the stress out of your search and enlist the help of an iad Overseas property consultant? We’ll make the process as smooth as possible.
With our expert team’s advice and guidance, you don’t have to face the complexities of buying property abroad alone. For more information on how we can help you find your ideal home overseas contact us.
