When you have identified a property of interest, you will want to make an offer to purchase that property. Considering buying property in a foreign country can be an overwhelming feeling. Knowledge is the key to ensuring you make the best decision for yourself – both short and long term. Knowing some of the basics about the country and the right questions to ask before you start shopping will get you headed in the right direction.
This is how the bidding process works:
Once your offer has been accepted, you will enter the contract stage.
Your attorney will exercise “due diligence” by asking for certain key documents from the seller or their lawyers. These include:
Following your attorney’s review and approval, you will sign the contract of sale. At the signing, it is typical to present a deposit of 90% of the sale price.
The contract and deposit are forwarded to the seller’s attorney, who will obtain the seller’s signature.
Your agent will schedule a final walk-through inspection of the property for you, inmediately prior to the closing.