Q. My family and I holiday in Spain most years and are now thinking that due to market conditions it could be time to pick up a bargain holiday home that we may retire to one day. Obviously we are cautious as to the way forward as you hear so many horror stories about buying overseas, have you any advice for us?
A. Buying property abroad is more popular than ever, with increasing numbers of people like you following their dream in purchasing a holiday home. To avoid the pitfalls that have happened to many use qualified professionals to protect your interests and make the purchase of your new home a stress-free experience. Estate agents are a good source of advice. Only negotiate with ones that are officially registered and hold a licence. Ensure you have a good lawyer with an excellent command of English and the native tongue, to deal with the endless stream of rules and regulations. Research all legal issues and costs involved. Your solicitor will advise and assist you. Before you have decided on a property it’s important to be fully aware of the legal process and costs involved in your purchase; taxes can be high when buying.
Make your offer in writing if possible (of course, subject to contract), and include not only the price, but also the amount of deposit, when you’re prepared to pay it, when you’re prepared to complete, what you understand to be included in the price (for example furniture and fittings if applicable) and, an often neglected point, that all machinery equipment and installations are in normal working order.