It has often been said that overseas real estate buyers leave their brains on planes when they step into the sun at their overseas destination. They have fallen in love with the country, its people, the climate and lifestyle and they have come to take the dream home.
The problem is that real estate agents in these popular destinations know that they have buyers on hold so that buyers are in the most vulnerable position. Add to this the fact that legal and financial proceedings differ from country to country and many people don't appreciate this fact and you have a real estate disaster waiting to happen. You can contact overseas buyers in Sydney via bbiagency.com.au/overseas.
So here's an important guide for buying real estate abroad to protect unsuspecting buyers from unscrupulous sales techniques or falling into misunderstanding and misinterpretation.
1) Get an independent legal representative yourself: don't take recommendations from developers or sales agents that you think will be purchased, do your own research. Check that your country's embassy in your chosen destination abroad has a list of the lawyers they recommend. If not then get it on the internet, look for forums and sites dedicated to the country of your choice and ask people on this site for their recommendations.
2) Never assume anything: The buying process differs from country to country, the legal process differs from country to country and your rights as an overseas buyer differ from country to country. Find out from your lawyer what your rights are and how the entire purchasing process should proceed.
3) Ask for whatever funding you need to be approved by the principal before leaving for the dream house. That way you will have a fixed budget for work – don't be tempted by a salesman to extend that budget. He wants you because he will make more commissions but that means you put yourself in a potentially untenable financial situation.