Buying Properties Abroad - Thailand

When you think about buying properties abroad, have you ever thought that you would like to buy property in Thailand? Maybe you have ruled it out because you had no idea how to go about it.

Thailand must be one of the most attractive places in the world to own property. You can't visit there on holiday without falling under the spell of this amazing country - its lush, exotic scenery, its wealth of beautiful temples and its delightful, friendly people. And of course it has an almost perfect climate from the point of view of sun-starved northern people!

The good news is that it is not at all difficult for foreigners to buy property in Thailand. In fact it is a lot easier than in some European countries. And of course it seems an increasingly attractive alternative to the traditional Europe holiday spots which are becoming more and more crowded.

The only catch is that although non-Thai nationals can own buildings, they can't acquire property rights to the land on which the building stands. There are a number of ways to get round this, and in the next post we will look at these. Meanwhile if you can't wait to look at some stunning properties in Thailand, you can find some at http://www.bizwrite.co.uk/realestate/propertyabroad.html

How To Buy Property In Spain - More Tips

In previous posts we have been looking at some of the pitfalls to beware of in buying property in Spain, and suggestions about choosing the right property for YOU.

Once you have picked your property and (excuse the repetition but it's so important) double and triple-checked that there are no legal problems that could cause you to lose the house, you're ready to make the purchase.

In Spain there are initial charges that have to be paid up front. These include transfer tax, stamp duty, fees to the notary public who supervises the sale, and payment for name change on the title deed. Allow about 10 percent to cover these.

You also have to pay a 10 percent deposit to the vendor. Once this is done, the sale is legally binding on both sides. If you pull out, you lose your deposit. If the vendor pulls out, he/she not only has to repay the deposit but pay you an additional 10 percent.

If you need a mortgage, it is usually not too difficult for foreigners to arrange one with a Spanish bank. Another possibility is to refinance your existing property.

Your lawyer then draws up a contract which includes details of the sale and sets a completion day. (Remember what we mentioned in a previous post - do NOT agree to any request by the vendor to enter a smaller purchase price in the contract to help the vendor pay less tax.) Between now and completion day, the lawyer will be doing all the legal checks.

On completion day, you and the vendor meet in the presence of the notary public (notario). You must bring the balance of the payment with you, either as a banker's draft or in cash. Once the notario is satisfied that all is in order, he or she will disappear with the contract and return in about 20 minutes with the stamped copies. Your dream property is now yours!

If you have carefully followed all these tips about how to buy property in Spain, your new home should be suitable for you in every way AND should be free of any legal traps and pitfalls. So there's no reason you shouldn't be able to enjoy it for the rest of your life!

You can start right away by looking at some of the gorgeous Spanish properties at http://www.bizwrite.co.uk/realestate/overseasproperty.html or http://www.bizwrite.co.uk/realestate/propertyabroad.html If you're in the USA and would like to find out how to refinance your existing property or get a home equity loan, come and visit http://www.bizwrite.co.uk/realestate/lending.html

How To Buy Property In Spain - The Next Step

Once you have chosen the area where you want to buy your property, book into an hotel for a few days and explore. If possible and practicable, try to visit the area more than once at different times of the year, to make sure you like it in the off-season as well as at the peak of the holiday period. Of course if you live in the USA, you may not be able to do this.

Before starting your search for your actual property, write down your budget and stick to it. Most properties in Spain look so gorgeous in the sunshine that it's easy to get carried away, especially after a few glasses of Rioja! If you are tempted to offer more than you can afford, you will soon find yourself in serious problems!

When you find properties you are interested in, make sure you are able to view them as often as you wish. If any owner wants to restrict you to a single viewing, walk away. After your first viewing a lot of questions will occur to you so write them down before you go back. Try to view the properties at different times of day and in different weather conditions.

I know this has been said already but it can't be emphasized often enough. Before making even a preliminary offer MAKE SURE YOU HAVE A LAWYER. And make sure it's one who speaks both Spanish and your language, one who knows all the ins and outs of Spanish property law, and one you can trust. If you are using an estate agent, don't accept the lawyer recommended by your agent. This may be tempting as it would save you time, but you must have someone who is acting in YOUR interests. You can't be sure that the lawyer would not be acting in the interests of the estate agent as a return for putting business his way. Ask around other expatriates from your country - they may well have someone they can recommend (or someone they can warn you against!). Or ask your local consulate who will probably have a list of recommended lawyers.

I hope these tips on how to buy property in Spain are proving useful - do join in with comments if you agree or disagree or if you have anything to add from your own experience. If you are ready to start looking for your property, you can try http://www.bizwrite.co.uk/realestate/propertyabroad.html - you'll get lots of help with the practicalities as well!

How To Buy Property In Spain - Where To Start

When considering how to buy property in Spain, the first question to ask yourself is: "Why do I want to buy this property?" That is, do you want it primarily as a holiday home or a possible retirement home for yourself and your partner/family? Or is it primarily as an investment or a lettings business?

The answer to this question will help you decide where to start looking for your property. If it's primarily for yourself, you should consider looking inland, as property is much cheaper inland than in coastal areas. However, if it's for business or investment purposes, you'll get a better return if it's near the coast.

Of course you must also look at the question of accessibility. However gorgeous the property might be, you won't be able to enjoy it if it's difficult to get to. If it's near an airport, think how you would manage if the airline you normally use ceased flying to that airport (this does happen). If you have fallen in love with the property while on holiday, make sure you visit the area at different times of year to make sure you still like it all year round! Find out about local amenities such as shopping and sports.

One thing you must remember is that, in Spain, if ownership of a property is transferred while there are mortgage or other debts still owed on it, the new owner becomes legally responsible for those debts! So if you are buying an existing property, make sure you check and double-check via your lawyer that there are no debts on it. You can't count on the seller to tell you!

Remember that you can start your search for your Spanish property at http://www.bizwrite.co.uk/realestate/propertyabroad.html You'll receive every possible help right from the start, including advice on where would be the best location for you.

How To Buy Property In Spain - A Few More Warnings

In order to understand how to buy property in Spain safely, there are a few more things you need to be aware of.

• The most usual way for foreigners to buy property in Spain is to purchase a plot of land from a developer and agree the design of your house from a brochure of standard designs. If you are buying the land and the building from the same company, INSIST on separate contracts for the land and the building.


• Make sure you get hold of the title deed for the land BEFORE signing a building contract. (Your lawyer will help you with this.)


• Also before you sign the building contract, insist on seeing the "termination guarantee". This is a kind of insurance policy that protects you if the builder goes out of business before the work is complete - which does happen. If the builders can't produce one, walk away!


• If the property is on a new development or "urbanisation", get your lawyer to check that it's legal. Most are, but as mentioned in previous posts, some foreign buyers have found their property is built on an illegal development. This means the authorities can confiscate and demolish your property without compensation. This applies even if you purchased an existing property in good faith and it then turned out to be built on an illegal development.


• Check the water supply and sewage. In many areas where excessive development has taken place, the effect on the local water supply and sewage systems has been severe. This could seriously affect your enjoyment of your new home.

Remember all these warnings are to ensure you really enjoy your property in Spain! You can avoid a lot of these pitfalls by finding your property at http://www.bizwrite.co.uk/realestate/propertyabroad.html We take you by the hand and support and guide you through every step of the process!

How To Buy Property In Spain - The BIG Trap

Many people, when they start wondering how to buy property in Spain, think of one thing - that is the so-called Land-Grab laws.

These have resulted in so many heartrending stories that they have almost entered into folklore - and have discouraged some people from buying property in Spain.

So let's try and separate the myth from the reality. These laws were originally passed in the province of Valencia in 1994. The object was to assist local authorities in the development of undeveloped areas and enable them to build low-cost houses.

Unfortunately, however, the authorities in recent years have cynically made use of these laws to enable them to "grab" property from foreign owners. These owners were informed that the land was required for development to help local people - their houses were demolished and they were given NO compensation whatsoever! Of course they were heartbroken especially if they had put all their savings into the property and looked forward to a retirement in the sun. It seemed to some as if it was a deliberate targeting of foreign property owners. It happened in Andalucia as well as Valencia.

Recently this has been declared illegal under European law - which clearly it is! Nevertheless, many owners report that it is still happening.

So what can you do about it? Well, first and foremost, at risk of being repetitive - GET A GOOD LAWYER! Make sure it's a lawyer who understands SPANISH law thoroughly, who speaks your language, and whom you can trust to act in YOUR interests. Before you pay any money or commit yourself to any property, make absolutely certain that your title to it is 100 percent sound. If there is any possibility in that local area of confiscation for ANY reason, or if there is any ambiguity about whether the property is legally built on that land, WALK AWAY.

If you have any questions or any experiences of your own to share, do get in touch. And there are some wonderful Spanish properties - with NO legal problems - on http://www.bizwrite.co.uk/realestate/propertyabroad.html

How To Buy Property In Spain - More Traps to Avoid

As mentioned before, this focus on traps and pitfalls is not intended to put you off. The idea is to ensure you are aware of how to buy property in Spain in the right way so you can enjoy it for life! Lots of people have already done so - but many others have lost everything and wish that somebody had warned them. So here are some more tips:

• Remember that anybody can set up as an estate agent in Spain. This means that there are lots of unregistered and inexperienced ones around, wanting to take advantage of the property boom. This in turn has led to, at best, mistakes in the purchase process being made and, at worst, would-be buyers being deliberately exploited. Do ask around for an estate agent with a good reputation - find ones recommended by people from your own country who have had a good experience.


• Make absolutely certain that your lawyer understands the local planning regulations properly and checks them out in exhaustive detail. Even if you are buying an existing property rather than a new build, it is possible that this property was not legally built on that land in the first place. Of course the seller may know this but may be hoping you won't find out before the sale is complete. If the authorities discover this they will demolish the property with no compensation - as many, especially from UK, have discovered to their cost.


• As mentioned in the previous post, it is crucial to ensure that your lawyer is someone you can trust and someone you can communicate with. (Don't accept a lawyer recommended by the estate agent - find your own.) This becomes especially important when checking title to the property. Many have found when it was too late that they were not in fact legal owners of the property. Again, the authorities can and will evict you without compensation if this is found to be the case. Sometimes people have mistaken the initial permit for the legal title - a good lawyer should never allow this to happen.

More tips on how to buy property in Spain in the next post, and do add your experiences and tips. Plenty of super Spanish properties at http://www.bizwrite.co.uk/realestate/propertyabroad.html - plus help and advice at every stage, including help in avoiding the pitfalls!