How to Buy Overseas Property Safely - Turkish Connextions

SECTION CHECKLIST:
WHAT SORT OF PROPERTY DO YOU WANT?
Why are you buying abroad?
If it is a holiday home you only really need to make sure
you and your family will enjoy the property .
Will you need to rent the property out to help cover costs?
If so, how many weeks’ rental can you expect to secure?
Climate and amenities will have a bearing on where you
choose if you seek year-round rentals.
If you hope for holiday rentals, make sure you buy a
property where they are authorised (especially beware of
restrictions in Florida and the Canaries).
How accessible is your property?
Within 90 mins of an airport is better for rentals.
If the property is an investment, do you intend to make
money by capital appreciation, rental income,
or by improving it?
1 PLANNING YOUR PURCHASE
What type of property
best matches your needs?
If you are buying to let, a new build property on a managed
complex might be the most hassle-free, rentals-friendly
option (rather than an older property)
New-builds: your lawyer needs to verify that the building
has all the necessary licences and permits in place
(due diligence)
Make sure you know what is and is not included
in the purchase price.
If buying a resale – especially a distressed sale - make sure
there are no outstanding debts against the property and
be sure to check the title deeds.
Are you buying the right size of property for your needs
(enough bathrooms)?
Could part-ownership or fractional work for you?
If planning a permanent move abroad then the Foreign and
Commonwealth Office has information that will help make
your move a successful and happy one – see page 11
AIPP CONSUMER GUIDE 12