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Buy Abroad News

10 Nov 10

Due Diligence When Buying Overseas property Is The Only Way To Buy

The Blade Group can provide expert advice on property in Europe, including Spain, Portugal, Cyprus, Bulgaria, Italy, France, Florida and beyond. Through our network of partner organizations we have an experienced team of lawyers who are willing to help all prospective purchasers with their DUE DILIGENCE.

People who have had problems with their property purchases abroad have often received little or no independent legal advice about who really owns the land and buildings, whether the correct planning permission and/or habitation licences are in place, or about the terms of the contract of sale itself. If they have received any legal advice at all, too often it has come from a lawyer who was hand-picked by the developer— not the most obvious guarantee of the adviser’s fearless independence! .

Due Diligence is the most important part of your purchase. Get it right and you will have very few problems.

Get it wrong and the chances are you will be mis-sold, defrauded and abused .

• We will check to ensure your build or property has planning permission. • We will check for hidden debt. This is very important as in many countries debt (e.g. where the vendor has mortgaged the land once already before they sold it to you), runs with the buyer. • We will check and ensure you have Habitation Licences. • We will check the background of your developer to ensure that he has funds in order to complete the build. • In countries that have such a system, we will ensure that you have Bank Guarantees in place in order to protect your deposit. • We will check and ensure your developer has building licences / guarantees and insurances in place. • Never use the Solicitor given to you / offered to you by the developer or the Marketing agent. • We can organise advice from an independent Solicitor or Notary (as appropriate). • We can organise private building insurance. This will safeguard your deposit 100% • We can carry out checks on land before you purchase. You need to know that the person selling has permission to sell it.

By doing things correctly when you buy, you can make sure that you don’t have to fight to hang onto your life’s savings.

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