Buyer’s do's and don'ts

Do's and Don'ts for Buyers

It may seem obvious but research the country you intend to buy in.

Searching for properties

 Refine your search to a region/village/city remember even in a resort/holiday area you have different values for locations the better the sea view the more you will pay, any purchase value will be based on the location.

LEGAL ADVICE

ALWAYS USE A LAWYER FROM THE AREA YOU ARE BUYING IN.

 IF YOUR FROM SWEDEN, UK OR BRAZIL ect, THE LAWYER IN YOUR COUNTRY WILL NOT KNOW THE LEGAL REGULATIONS IN THE COUNTRY YOU ARE BUYING IN. 

TRY AND FIND A LAWYER WORKING NEAR OR WITHIN THE AREA/TOWN WHERE YOUR BUYING THE PROPERTY, THEY WILL KNOW IF THERE ARE ANY MAJOR PROBLEMS IN THE AREA, IF THERE IS A BIG DEVELPOMENTS BEING PLANED OR BUILT. 

MAKE TIME TO MEET A LAWYER WHEN YOU ARE VISITING THE AREA TO VIEW PROPERTIES. YOU WILL NEED TO TRUST THEIR ADVICE AND WILL BE SENDING MONEY TO THEM. BEST TO MEET THEM FACE-TO-FACE.

ALWAYS ASK FOR A FULL DETAILS OF COST IN WRITING FROM THE LAWYER INCLUDING THE TAXES TO BE EXPECTED TO BE PAID.  

Viewing 

When viewing a property find out if your dealing with the owner or his representative, before you travel to view make sure you have all contact telephone numbers for both the owner and or the person who is to show you the property, if the property is not easy to find, arrange to meet the person showing the property at an easy to find landmark (supermarket, petrol station)

Negotiation 

When buying a property agree the price and any furniture being included (beds, tables, garden machines, toasters, sunbeds etc.) try to write them down as you discuss, if your negotiating after seeing the property do so by all means via telephone however make sure that all is confirmed via a letter or email before instructing lawyers saves time and money.

DO NOT DO!

DO NOT PAY ANY MONEY TO ANYONE WITHOUT TAKING LEGAL ADVICE FROM AN INDEPENDENT CERTIFIED LAWYER. NEVER USE A LAWYER INTRODUCED BY THE SELLER ESPCIALLY DO NOT USE THE LAWYER ACTING FOR THE SELLER. 
ALWAYS-INDEPENDENT ADVICE

TAXES 

Remember when your buying include in you calculation the cost of buying, you will need to include some form of purchase/stamp duty tax and lawyers fees, we have found most of European countries have a charge of around 6% for purchase taxes and legal fees USA and BRAZIL depends on the sate you are buying in, however this is just a guide, your lawyer will give you a break down of the cost.

Do's & Don'ts for Sellers

Your wording/description for listing

Use plain and simple language remember that your property will be viewed by people around the world using computer translation the more simple the wording the more sense the translation systems will make to the buyer.

 

Using map

It is very important to make you sure that your property is accurately placed on the map, as this helps with a buyers search, therefore promoting your property to its best advantage

Description of property

Be as accurate as possible with your description, the buyer will be traveling sometimes a great distance (high cost) no point in saying sea view and raise their expectations only for them to find they need binoculars to see the sea. They wont buy and saves embarrassment.

Photographs 

Pick the photos that show the property to its best advantage include swimming pools, surrounding views, nearby beach, river, city area, If new kitchen or bathrooms, make the most of the best features, ask family and friends for their opinion as to the photos which show your property to its best advantage

Furniture 

If holiday/second homes most are sold with furniture, if you try to hold out for a separate value then you can complicate the sale, if you really do not intend to move the furniture and intend to leave say so on your listing that furniture is included, you could attract the buyer to your property.

Paperwork for your property

Once you have decided to sell your property it is advisable to go through all your paperwork make sure you have everything in hand to process the sale, if in doubt contact your lawyer.

BIG BIG DON'TS 

DO NOT GIVE ANY PROPERTY PAPERWORK OR YOUR PERSONAL/PASSPORT DETAILS TO A PERSPECTIVE BUYER. ONLY PASS DETAILS THROUGH YOUR LAWYER TO THEIR LAWYER. THIS WILL ENSURE THAT YOU WILL ONLY BE DEALING WITH GENUINE BUYERS AND HELP STOP A FRAUD. OUR ADVICE IS ALWAYS USE A LAWYER.

Viewings 

If the buyer can not enter the property you will not sell, no view no sale, if possible be in attendance when the buyer is viewing no one will sell the property as well as you.

If it is impossible for you to show the property, make sure you have someone willing and able to show the property for you, make sure they have all the keys including outhouses, pool room storage cupboards, if your property has shutters have them opened before the buyer arrives, selling properties is all about presentation, if you are to use your villa/house manager remember they will not want to loose you, so you need to sell the idea to your manager that it is in their interest to make a good job of showing the property, by saying to them that if they are pleasant and helpful they will be retained by the new owner, maybe it is an idea to offer your villa/house manager a small inducement commission payment as an incentive.

THE SALE

Once you have completed the sale negotiations, you should send the details of the buyer and their lawyer contacts to your lawyer (head of terms) the information your lawyer will need is the price agreed, deposit on promissory contract (depending on country) full inventory of what you have agreed to include (furniture TV toaster, sunbeds etc.) timetable for the sale to be completed.

If you are unsure of any of the above details please do not hesitate to contact us we have many many years experience of selling properties in Europe having owned estate agents we are happy to help or give advice.

Paperwork

Let your lawyer know that you are placing your property on to the market, ask them to update all and any relevant paperwork, have all property paperwork ready to send out to the buyers lawyer, if you find that something is not legal (swimming pool, extension) find out from your lawyer how much it will cost to legalize and time it will take, therefor you can offer an inducement to the buyer that you will either take care of the updates/legalization or that the buyer gets a discount to cover the cost.

Big Big Do

Make sure that any sale agreed is in writing either email or letter and that the full price is stated and currency of the transaction is to be made in.

Capital gains

Most countries have some form of tax for gains made on a property, if the property is situated in Europe and that the property is your main residence then you can roll the capital gain over to your next purchase within Europe, the EU law is that you have up to two years to buy your next property.so you do not incur capital gains tax payments.

Further advice

We are happy for you to contact us for further help or advice with selling your property, we are not lawyers however we have many many years of selling properties around Europe, all information contained within www.confused2move.com are for guidance, we strongly recommend that you seek legal advice from a lawyer within the country your property is situated in we can not be held responsible for any loss you may incur by selling/marketing your property

DO NOT HAND OVER KEYS OR ALLOW THE USE OF YOUR PROPERTY TO A THIRD PARTY UNLESS YOUR LAWYER ADVISES  

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