- Can I sell before completion?
- Do I need to appoint a solicitor to deal with my purchase?
- Do I need to pay for the property outright?
- Is it possible to obtain a mortgage on overseas property?
- What additional costs will be on top of the purchase price?
- What are the benefits of buying off plan?
- What is the best way of transferring the money for my stage payments/completion?
- Why do I need to pay a deposit?
- Will I pay less if I go to the developer directly?
- Can I sell before completion?
It depends on your contract, please check with your solicitor. When the contract allows, some clients have made SUBSTANCIAL PROFITS turning the contracts before completion, whilst only having to invest a small amount themselves.
- Do I need to appoint a solicitor to deal with my purchase?
It is not necessary to appoint a solicitor in all countries, however, WE STRONGLY ADVISE you seeking legal representation in all international property transactions.
- Do I need to pay for the property outright?
No most of our properties are new off plan developments. You will need to pay a deposit then various stage payments through out the construction process. The final payment will be made on completion, this is when the keys will be handed over to you.
- Is it possible to obtain a mortgage on overseas property?
Yes. This can be done in many ways. Some people decide to remortgage their existing property in the UK to release funds. Finance can also be obtained from various lenders. Currently we can obtain mortgages in Spain, Portugal, France, Italy, Bulgaria, South Africa and the USA. Typically mortgages are available for up to 70/80% of the property value. For more details please see our "services" area.
- What additional costs will be on top of the purchase price?
This will vary from country to country. You must allow for, stamp duty, local taxes, VAT (IVA), agents fees, legal fees, land registry etc. In general, allow between 7 and 10% of the purchase price for purchasing costs.
- What are the benefits of buying off plan?
There are many. You are getting the opportunity to choose the best units in prime locations within the scheme, with a small capital outlay. Most developments are fully sold prior to completion and experience an uplift in values, some substantially, upon completion. Most developers offer easy payment terms with stage payments being made throughout the construction process making it easier for your cash flow. Many developers will also give you a choice of fixtures and fittings at the early stages. Although most people will see an increase in the value of their purchase upon completion, it should be remembered that as with all investments the property market could fall as well as increase!
- What is the best way of transferring the money for my stage payments/completion?
It is much cheaper to transfer money abroad using a money brokerage. They will offer a much better exchange rate then you would get from your bank or building society. Please see our "services" area for more information.
- Why do I need to pay a deposit?
A reservation deposit, usually approx. £2,000 ( depending on the project) is payable to the developer to ensure the property is taken off the market and to ensure the price is fixed and will not increase. The property will then be held for a short period giving you the opportunity to view the area/development. Once the pre contract agreement is signed the deposit becomes non refundable. If after viewing you do not wish to proceed the deposit will be returned by the developer, minus a small administration cost.
- Will I pay less if I go to the developer directly?
No. All prices quoted on this website will be the same as the developers. You do not pay any extra for our more personal service.
