Tips and Tricks for buying a House abroad......

Buying a house in a foreing country can be a tricky business. When you want to buy abroad, you better seek good advice. In many different European countrys you find estate agents that speak more languages and can be of good help to find the right property and to help you with te contracts. It can also be very important to ask a builder for a report of the building condition of te property you want to buy before you sign any contract at all. the Inspection is designed to disclose defects in the property that could materially affect its safety, livability, or resale value. It is not designed to disclose cosmetic deficiencies (for example, an interior wall that needs paint touch up). You will need to determine on your own those type of items that will need attention: don't expect a whole house inspection to reveal them to you. If you start trying to find an inspector at that point, and cannot find an acceptable one to schedule it in that time frame, you will only have two choices: go with an inspector that is not your first choice, or run the risk of running past the deadline for the inspection (which could void any chance having the seller take care of repairs). Neither is an acceptable alternative! Don't wait until you have placed an offer on a house before you begin the search for a home inspector. Don't hasitate to ask anything you need to know before signing and only transfer money to the special account of a notary office. The rules for buying and selling properties are in any country of Europe very diffrent. One of the most important things you can do is to make a checklist as you search for, find and buy a home. By keeping on top of your game-plan at all times you will greatly increase your chances of success. Begin the application process by getting prequalified and preapproved from a Mortgage Lender. Do this first. Your Agent will need your mortgage qualification. Get your financial picture in focus as soon as possible. Since it is an important component, be aware of your credit situation. Having your credit report in hand makes it much easier to decide which way to proceed. Homebuyers can also choose between existing and new housing. Existing housing usually requires some redecorating or repairs. If you buy a new home, you can choose the style of architecture and interior decor. Compare and secure homeowners insurance. Since homeowners insurance is a long term expense, getting the best deal here brings savings that continue. Arrange for closing agent or attorney. Do your homework before bidding.Your opening bid should be based on the sales trend of similar homes in the neighborhood. So before making it, consider sales of similar homes in the last three months. Once your offer on the purchase has been accepted you need to finalise your mortgage arrangements. CAUTION: Borrowing from a friend or relative doesn't mean you can escape the serious consequences of defaulting on the loan or falling behind on payments. You could you lose what you put up for collateral. You could be haunted by a collection agency. You could be taken to small claims court. You could be sued. You could have your wages tapped. Family and friends can be tough when it comes to their money. Both of you should date and sign the document. Make two copies for yourself. Put one in your safe deposit box and the other in your financial file at home. Then, note in your calendar when payments are due. Mail your checks well in advance so they arrive on time. Treat your Uncle or your lending friend with the same business respect you would treat your bank.

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