Purchasing Property Overseas

A few tips on what to look for when purchasing foreign property

An investment in real estate in Croatia can allow you to experience all the majesty of Croatia. Whether you want to buy a holiday apartment, a house, or a country property, you should know some basic rules of buying an investment property overseas.

If you are inexperienced in purchasing foreign properties, the following tips should give you some fundamentals to work with. This will minimize the risk and chance of losing money on your property deal and instead help you on your way to property investment success.

Croatia is an attractive location for buying property overseas, being one of Europe's holiday hotspots  (Image by Pixabay.com)

Find the Right Agent

A smart buyer should always check a professional agent's credentials before making their purchase. It's no different when purchasing Croatian properties. Even if you know a friend or family member who sells real estate your closeness to the agent will have no bearing on their professionalism or ability to help you find the right property at the right value. Move beyond personal connections to find the agent who can best guide you in your overseas purchase.

Don't Be Sold on Presentation

Try not to jump at a piece of property as its presented on a real estate website. Many times these presentations are only photos of the real estate and the scenic surroundings; more often than not they downplay or outright omit information about the property's condition. Be sure you are comparing websites dedicated to properties in Croatia to insure your information is accurate. Weigh the pros and cons before you make any decisions on purchasing property overseas.

Ask For References

Even if you're a good judge of character it may not help you if you are inexperienced with foreign property investment when you make the move into Croatian real estate. Although Croatian government is making a serious effort in 2013 to get all land ownership and legalization books in order, it always pays to be cautious. Check references so you're sure the property you're interested in is everything the agent claims. If you can, try to find references on their recent sales and customers.

Istrian peninsula is a popular holiday destination in Croatia that attracts many visitors, making it one of desired real estate spots. (Image: Pixabay)

Inspect in Person

This is the most challenging aspect of investing in property in Croatia. Unless you're close to Croatia, travelling to see the real estate in question can take a bit of time. However an in-person inspection is essential before you make any real estate purchases. After all, you don't want any undesirable surprises after you've purchased and settled into your new property. It's vital to personally inspect the premises before making your decision.

Spending a few thousand dollars or euros on a return inspection trip is money well spent. It's better than risking purchase of an overseas property that looks nothing like the picture, or you find out is owned by someone else. In the end, you could at least get a good holiday in this beautiful country.

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