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For most people, buying a property abroad can be both a scary and exciting adventure. Key to making your purchase a success is the sales contract, something that should be understood fully before it is signed. Here are a few things to look out for in your contract, to help your move go a smoothly as possible:
1) Understand every word: If you are buying in a country whose first language is not English then there is likely to be a language barrier, even if you think you speak the language pretty well. When it comes to legal jargon you can easily lose track of what is being said in your contract. Make sure you get your contract translated by a professional (preferably whose first language is English) and make sure you understand all the words and connotations before you sign anything. The contract that is legally binding is the one that is written in the local language.
2) Don’t miss anything out: Contracts are never simple ‘buy and sell’ papers, they are the location of any other agreements of conditions of sale and if you are expecting anything else to be included in the property, e.g. furniture, then this will need to be written into the contract before you sign it. The date you can move in should also be included in this, as should any conditions of sale that need to be adhered to before you move in, e.g. if something in the house needs working on or fixing. Once the contract is signed, the seller has a legal obligation to meet these conditions so make sure everything is included.
3) Get a solicitor: A solicitor or lawyer is highly advisable for anything legal, whether in the UK or abroad (where often is it not a legal obligation). Foreign laws vary greatly so it is important to have somebody who knows the local laws representing you. In Morocco for example, it is common for people to have the wrong title deeds for their property. This happens when people buy without using an independent solicitor to check the legality of the sale. The position they are left in is one of not being able to make any changes to the property or indeed sell it. A solicitor will check all the legalities of the sale, including whether the seller has the right to sell the property.
To conclude, it is imperative that you realise what you are agreeing to, and that you check and double check anything which you are not 100 per cent sure about.
Start your hunt for a home abroad here…
If you’re searching for an overseas property, a good place to start is the Overseas Guides Company’s new property search facility. To start your search now visit http://www.emigrationguide.com/content/emigration-properties