The idea of owning a house or apartment abroad sounds appealing. It could be a “fallback option,” an investment, or a home by the sea. But unlike the domestic market, where the rules and criteria are well known, achieving this goal abroad is more difficult: each country has its own laws, documents, and pitfalls. You can’t do without the help of experts. Or is it possible after all? To realistically assess your chances of success, you need to figure out at the initial stage which steps you can take on your own and where you cannot do without the help of professionals.
Searching for a property
Digitalization has greatly simplified the search for real estate. Today, you can explore the market without leaving your home: online catalogs and platforms allow you to study properties, compare prices, and view neighborhoods at any convenient time. For example, you can find current offers for specific cities and areas in an online real estate catalog, completely on your own. Does this mean that the process of choosing real estate can be carried out without the involvement of professionals? Yes and no.
Choosing a property (house, apartment, villa) is only part of the process. To ensure that your purchase is truly successful, it is important to consider the area’s prospects, local characteristics, infrastructure, and development plans. Some of this information is available online, but assessing long-term prospects often requires an expert opinion. Licensed real estate agencies usually work closely with developers and are well informed about future projects. They can advise you on where the area will be actively developing, where new roads, schools, or commercial facilities are planned. For those who are familiar with the market and the language of the country, the search can be conducted independently, but most investors still prefer to engage an agency to minimize risks and gain a more complete understanding of the property’s prospects.
Legal support
Even if a property is found, without checking the documents, buying abroad can turn into a problem. Each country has its own rules: in Turkey, it is important to make sure that there are no utility debts and that the property is free of encumbrances; in the UAE, transactions go through the Land Department; in Bali, foreigners register real estate through long-term leases. A lawyer or experienced agent can help verify the legitimacy of the transaction and minimize risks, while attempts to figure it out on your own can lead to mistakes. And if you plan to obtain a residence visa through real estate, this will only prolong the process.
Financial issues
Buying real estate overseas almost always requires opening an account and transferring funds. In Turkey and Spain, payment cannot be made without a local bank account and a foreigner’s identification number (e.g., NIE); in the UAE, escrow accounts are commonly used. Some issues can be resolved independently, but a financial advisor or bank assistance will help you avoid mistakes when making transfers and comply with legal requirements.
Thus, some issues (searching for properties, researching prices and areas) can really be resolved independently. But when it comes to legal checks, financial transactions, and assessing the prospects of an area, it is almost impossible to do without the help of professionals, https://myestateinvest.com/en.
