The Most Common Mistakes When Buying a Home in Another Country

The costliest error is taking legal advice from the other side. The developer earns money on completion, which is a different interest than protecting the buyer. Your own legal adviser represents a modest share of the price and is money well spent.

Putting your name to untranslated contracts comes a close second. A certified translation costs little set against what is at stake. Verbal assurances will not help when the written text differs — only the signed text matters.

Purchasing off-plan on trust has wrecked many budgets. Before any payment, review previous developments, flats for sale in bulgaria the planning approvals, and the guarantees on staged payments. Projects running behind schedule happen frequently with even the best developers; unfinished projects are the exception but genuinely ruinous.

Forgetting about resale is rent a property in georgia subtler error. A home bought abroad will eventually be sold, and the next buyer decides what you get back. A unit that only appeals to foreign buyers sells slowly when conditions change.

Last of all, many buyers misjudge the ongoing obligations. Tax filings can be required regardless of whether the property earns anything, and late filings lead to charges nobody warns you about. Putting in place a local accountant from the start prevents most of it.

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