First time buyers overseas property guide

[Goldberg]

hi,

For people who are thinking investing for the first time or buying overseas, we include a guide to what you should do and not do.
Remember it is your money, and your financial health and wealth on the line.

1. Do research - Internet, desk, talk to friends/family, people you trust.
2. Choose destination you wish to be, or a destination that suits your goals.
3. Either speak to an agent or a variety of agents about this destination. If you speak to many you will get a more accurate and rounded picture.
or .. visit the country of your choice, ideally independently, rather than a highly monitored and regulated inspection trip, for example go on holiday in the destination and arrange to meet several agents once you are there.
5. If you find what you want, get it checked out by an INDEPENDENT LAWYER. THIS IS CRITICAL. THAT IS WHY IT IS IN CAPITAL LETTERS, DO NOT USE THE LAWYER RECOMMENDED BY THE DEVELOPER, THE AGENT OR ANYONE WITH A VESTED INTEREST IN YOU BUYING. INDEPENDENT LAWYER ONLY. for a selection of independent lawyers, go to the law society, bar of the particulary country, or go a legal directory like Chambers and Partners, click here to view Chambers and Partners : Home.
6. If all is correct, put down your deposit.
7. See the process through to completion.

Live happily ever after.

Other safeguards to protect you the buyer are
a. Use banks to assist in the purchasing. Banks have to do their own due diligence as they are using their savers and clients money, so they will do their own inhouse legal checks to make sure the purchase is secure.
b. Use good quality reputable agents
c. Follow your own instincts, you will know if something seems correct or wrong. Go with your own instincts. Not sales patter. eg. Buy now or it will be gone tomorrow, the developer will be increasing prices next week etc, which is buying on fear. Fear of loss rather than through sound reasons. Think things through, does it make sense.

Remember you do not have the same consumer protection laws overseas than you do in the uk. Once you are in, it is hard to get out. These are big decisions, think it through.

Good luck, happy wealth creation.

[M.TAYLOR]

I am looking to move to spain and start my own little business with the Mrs, maybe get a lille bar or something!!

where do i start??

[Goldberg]

Start by deciding where you want to be

There are commercial real estate brokers for bars. So decide where you want to be first of all.

Costa Blanca
Costa Del Sol

or less English areas.

[Stravinsky]

Originally Posted by M.TAYLOR

I am looking to move to spain and start my own little business with the Mrs, maybe get a lille bar or something!!

where do i start??

Well I can only tell you that the bar business in Spain is very competitive, long hours, and low in profit from what I have gleaned from various forums. I do know of one up and runninf bar that has been around for years down south I can point you at though

[rowlandsbb]

It is the same in Spain as in UK .... if you want to do well with a bar you have to have a USP
Provide the quality service and you will do well
If your target customers are to be northern EU and Spanish then you will need to speak Spanish
But if you target the expats only then, provide what they want at a competitive price and you will do well
Not easy but not easy in UK either!