How to buy land overseas?

13.11.2010 09:20
Articles about real estate | How to buy land overseas? Despite the financial crisis, the most profitable investment today is a real estate purchase. But to succeed in this field should be very carefully and wisely choosing the sites for acquisition.

Very often, modern investors are buying land abroad. This is much harder, because you must know how to handle the documents, how to control it and so on. Sometimes it happens that the owners of that time have not issued the correct documents, and then pay more of the price, so as not to lose the sale. That is, if you are going to buy or sell the land abroad, you should review the legal and economic aspects of the question with great responsibility.

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The economic crisis that has spread to all countries affected by the real estate market. But gradually the authorities begin to deal with it. And in any case will soon house prices rise again. But the situation is different with the investment attractiveness. Not all value of the land will grow quickly and strongly, as would have liked. So that in case of purchase of property abroad would benefit from local professionals to help you determine the investment attractiveness of an object. But the buyer must be a little focus in the legal specifics of the situation and the real estate market.

So the first step - a selection of targets for acquisition. It is quite easy, as the media, the Internet is a set of flats for sale abroad. First choose the country in which we want to buy land or house. You must analyze the real estate market. For example, if in any country there are plenty of undeveloped land, it is unlikely that you will be able to resell their home advantage. Even in Cyprus, where the construction is constantly evolving, there is plenty of desert land, where you can build houses. The situation is different from the C?te d'Azur. There's the cost of apartments will grow constantly, as is already a shortage of building sites.

In order to obtain an objective assessment of the situation, you should visit the country itself and the region where you want to buy real estate. The plans for built-up can be found in local authorities, the cost and forecasts - relevant Realtors. It is also worth to go to the insurance company to assess the cost of insurance for your future project. If the premium is very large, so there is a high probability of the insured event, which already does not make the region attractive.

Before you conclude a deal, it is necessary to clarify all aspects of the contract and the cost of registration of real estate documents. Very often, taxes and various fees can become very large percentage of property value, so it will not be profitable for you.

Buying land is much more complicated than an apartment or house. Since the legislation of each country has its own nuances regarding acquisition of land by foreigners. There are cases where prohibited from selling land to private persons, or limit the functioning of the land. In most cases, the foreigner to buy a plot, you must agree with the authorities, and get specific permission.

Despite everything, buying property in another country, it is recommended to use the services of local real estate agents and lawyers. But even when they are choosing caution. It is advisable to get advice in several firms and then compare the results. Remember, the more you learn, what will be careful preparation prior to the acquisition, the more successful will be buying. Using these tips, you can successfully buy a property abroad and be confident in their future profitability.
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