'30 Tips on buying property overseas’

1. Name of the Company or Individual who holds the title deeds of the land to be built on?

2. Name of the Company or Individual who has obtained planning permission and when was this obtained? (Planning application/notice)

3. Are the properties sold freehold or leasehold?

4. How long will it take to transfer title deeds to the new owner on completion?

5. Are all the properties sold licensed for rental locally? If so, are there any restrictions on the time of year or the number of weeks these can not be rented out?

6. Do you have a management programme in place for rentals? If so, what are the charges/conditions?

7. Is there a homeowner’s fee payable monthly for the upkeep of the lawn areas and pool? Who is this done by and what are the costs?

8. What is the cost of buildings insurance?

9. Are mortgages available? If so, who do you use for this? Can they lend to UK nationals and Limited companies? What is the maximum loan to value?

10. What is the average rental income per week that can be obtained? Is this currently being achieved or is this an estimate?

11. What is the length of the tourist season for rentals?

12. What is the deposit structure? How do our clients pay for the property and to whom?

13. Are the developers government backed eg in the event of a developer going bankrupt, do the clients have an insurance to protect there deposits?

14. Are there builders’ warranties on new build? If so how long?

15. What is the construction of the building?

16. Furniture; is there a furniture pack included in the price? If so, please provide a list of inclusions. If not can this be arranged?

17. Does the property come with a car parking facility?

18. What are the closing costs e.g. stamp duty, local and national taxes and lawyers fees?

19. Do you have a lawyer, who you use, that can act on behalf of our clients for the purchase?

20. What is the law on compulsory purchase in your country?

21. What is the normal time frame from reservation to completion of the property?

22. Are there any fees charged by you for arranging the client’s mortgage? If so, how much?

23. Do you provide good faith estimates for the clients on all the mortgage costs?

24. Is the mortgage fixed or floating? If fixed what is the term?

25. What is the currency structure for buying the property?

26. What is the % rate at which property is currently growing in value in your country?

27. Will these properties be reserved for our clients for a limited period from receipt of reservation fee?

28. Will the client be able to resell the property through you in the future?

29. What is the cost of the re-sale of property in your country?

30. What are the provisions for inspection flights (costs, airports, accommodation, duration, and itinerary?).