Buying a property abroad can offer superb investment and lifestyle opportunities. Structuring the purchase properly can save you large amounts of tax and aggravation.
Property Investment advice
Many people have found out the hard and costly way that buying property in Spain is sometimes not as simple as buying at home. Don’t assumethat the purchase procedures will be the same. And what’s more important: Unfamiliarity with the language complicates matters.
Yet buying a property abroad can offer superb investment and lifestyle opportunities. Structuring the purchase properly can save you large amounts of tax and aggravation. Making sure that all of the right checks are carried out and that the property is safe to buy can save you both lots of money and sleepless nights. To buy a property safely you need specialist advice from someone thoroughly familiar with the legal system.
There are many issues prospective buyers need to be aware of: properties with no title deeds, others built without Planning Permission or with a demolition order hanging over them, Bank taxes owed on the property, structural faults or defective plumbing and/or wiring. They must alsobe aware of any open spaces in the vicinity of the property. That might be built on in future, and consider any noise that may be apparent if buying in the summer months but which may not be obvious if buying at any other time.
The most important tip is to have a well-informed independent legal advisor and one who can speak both English and Spanish. We are here to help you with every stage of the process.
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