Spanish property, Cyprus property and Bulgaria property are ranked very high in overseas property interest list. Have you too been thinking of buying an overseas property in Spain, Cyprus or Bulgaria? While sitting in your New York office have you been wondering how can I manage to buy a property for sale in Spanish? Here is a mini guide to smoothen your process of buying an overseas property.
While looking for a property in
Spain, the first thing you need to bear in mind is that Spanish property market is an unregulated industry. So it is as good as any other unregulated market. There are plenty of good real estate service providers who can help you find a good property for sale in Spain. One more important criterion to be fulfilled when buying a Spanish property is that foreign buyers need to acquire a fiscal identification number known as NIE (Numero de Identification Extranjero). It is required by Spanish tax authorities to identify buyers.
Cyprus is popular holiday destination flashing crystal clear water, sandy beaches, traditional villages and years of history. And now
Cyprus property is also in high demand. There are numerous buyers looking for a holiday home as it is very well connected. The land registry system in Cyprus differs only marginally from that in Unite Kingdom. Also the buy-to-let investment opportunity is very high for Cyprus property owners.
Buying a Bulgaria property is very lucrative option with Bulgaria recently becoming a member of EU. One thing important for the foreign buyers eager to buy Bulgaria property is to know is that there is a Tax estimation price, which is similar to ratable value in UK. This price is usually many times lower than the actual sale price and vendors generally prefer to write this price in title deed.
In order to be successful in buying overseas property Spain or overseas property Cyprus or property for sale in Bulgaria, you need to be able to get in touch with a registered estate agent who has a strong local presence and good relations with property developers. While buying an overseas property extensive due diligence is required as property laws are very likely to be different across different places. Thus along with a trusted real estate agent, it is also important to hire an independent legal representative who can clarify any doubts you have and who can be held legally liable.