Typical Mistakes When Purchasing Real Estate Abroad

The biggest one is using the agent's recommended lawyer. The developer gets a commission when the deal closes, which is not the same as acting townhouse for sale in italy you. Your own legal adviser represents buy a hotel in karaoglanoglu fraction of what is at stake and remains the best protection.



Signing documents you cannot read comes a close second. A sworn translation costs little next to what is at stake. Promises made in conversation will not help if the written contract says otherwise — only the signed text matters.



Buying off-plan without checking the developer has wrecked a great many buyers. Ahead of a deposit, examine the developer's completed projects, the construction licences, and how deposits are protected. Late deliveries are common even in good markets; abandoned sites are rarer but far worse.



Forgetting about resale is less obvious but just as costly. Any property will one day be sold, and the next buyer decides what you get back. A home that only appeals to foreign buyers sells slowly when sentiment turns.



Finally, many buyers underestimate the running costs. Annual declarations are often required even in years with no rental income, and missed deadlines generate penalties that grow over time. Putting in place a local accountant from the first year heads off most of it.