It is impossible to overstate the importance of appointing a qualified lawyer
to look after your interests when you’re buying a property Overseas.
When choosing a lawyer, make sure that he or she fluently speaks and writes
a language that you understand and don’t hesitate to ask questions.
Overseas property law is complicated and there have been some
cases of unwary investors being misled by unscrupulous sellers. The fact
of the matter is that there is only one person who is entitled to sell you
the property and that is the person who is named on the title deed. No matter
how tempting the offer might be, never sign anything without the express
agreement of a qualified, Local-speaking lawyer.
What
to expect from your Local lawyer
As well as giving legal advice at each stage of the process, your lawyer
will check the property registry to investigate any encumbrances or debts
registered against the property. If anything untoward is discovered he will
advise on how best to deal with it and whether you should, in fact, proceed
at all. When completion takes place your lawyer will lodge the title deed
with the land registry and then take care of any remaining formalities such
as opening accounts with local utility companies in your name and the payment
of any transfer taxes.
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Exchange Rate
1.517 €/£. Last updated at 16:29 on the 24 January 2007
