Navigation
Login
Quick Links:
- Personal Forex
Personal Forex
How do I send money overseas?
Watch this short video and see for yourself how easy it is to transfer money internationally.
Why use UKForex?
Operating since 2005, we are one of the largest online foreign exchange providers. Get competitive rates and pay low or no fees at all.
Safety & Security
UKForex is fully regulated and our secure online platform ensures a high grade of data protection.
More Services
Testimonials
Find out what our customers have to say about our service.
.jpg)
Forex Guides and info
Rates and Market news
- Business Forex
Business Forex
How do I send money overseas?
Watch this short video and see for yourself how easy it is to transfer money internationally.
Why use UKForex?
Operating since 2005, we are one of the largest online foreign exchange providers. Get competitive rates and pay low or no fees at all.
For your overseas business
Save time & money with UKForex to make and receive international payments and conduct business abroad.
More Services
Testimonials
Find out what our customers have to say about our service.
.jpg)
Forex Guides and info
Rates and Market news
Top five tips for buying overseas property
Many people who have travelled abroad have felt the temptation to purchase property overseas. For example, UK residents often consider buying overseas property in nearby European countries like France or Spain, and real estate agents often locate near popular tourist attractions to sell property to such visitors.
Sometimes the price of foreign real estate can seem very attractive due to the foreign exchange rate favouring the prospective buyers’ currency. Tourists can also become enamoured with a delightful travel destination, perhaps leading to an interest in buying overseas property as a way to spend more time there. Still others might be interested in investing in undervalued overseas property based on the view that it will appreciate substantially over time.
Whatever your motivation for buying overseas property, the following top five tips can help assure that you have a more positive experience in doing so.
Tip #1: Investigate the Market Thoroughly
Although global property price trends do occur, real estate markets in different locales can go through cycles of rising and then correcting lower, which can be independent of each other.
In other words, just because property values are rising in your neighbourhood, does not mean that they are also rising in Spain or France. Such trends are especially important for investors who will typically want to buy near the bottom and sell near the top of a cycle.
Furthermore, some countries prevent or limit real estate ownership by foreigners, so you will want to make sure that you have the legal right to purchase real estate in that country and under what conditions you can do so before handing over any money in order to avoid scams or disappointment.
Basically, it really makes sense to do your homework about the real estate market in the country you are considering making a purchase in before putting up your money.
Tip #2: Obtain Professional Purchase Assistance
Great deals can certainly be had when buying foreign real estate directly from owners. Nevertheless, if you are unfamiliar with the foreign real estate market, then purchasing through a professional real estate agent or from a reputable property developer can provide useful guidance that can help you avoid many pitfalls when buying overseas property.
Such professionals typically have an obligation to see that you are properly informed about the details of the purchase. They will also usually make an effort to complete the deal and assure your satisfaction with it.
Tip #3: Hire a Legal Representative
Although real estate deals in your country of residence generally do not require the services of a lawyer, having an independent professional attorney representing your interests and watching out for potential legal problems can be invaluable when buying overseas property.
Tip #4: Have Key Documents Translated
Before signing any documents relating to a potential real estate transaction, make sure that you have them professionally translated if they are written in a foreign language, such as French or Spanish, that you are not entirely comfortable reading. In general, you need to know exactly what you and the seller are agreeing to in words that you can clearly understand.
Tip #5: Saving Money on Mortgage Payments
Once you have read, understood and agreed to the terms of an overseas property purchase, you will then need to make arrangements to pay for it.
When transferring funds denominated in your domestic currency to either make a payment in full, a down payment, or a series of smaller mortgage payments, you will probably want to find a better foreign exchange solution than simply visiting your high street bank.
Such local banks typically provide poor forex services, which often involve very wide dealing spreads and limited transaction sizes. Fortunately, you can usually do much better by changing your money through a regular payments service, such as that offered by UKForex.
Reproduction of this article is permitted with UKForex clearly credited as the source by including a backlink with anchor text that mentions UKForex, the article name or something that relates to the article’s content.
Register Free
IMPORTANT: Use of this website is subject to the Website Terms. Use of the Services of the UKForex Limited is subject to the Client Agreement. Nothing on this website constitutes or should be construed as financial advice. This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. UKForex Limited makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites.
DISCLAIMER: UKForex makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this web site. Read full disclaimer.
UKForex provides international money transfer services to private clients and business customers. Use our free currency converter, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service.
UKForex is regulated by the Financial Conduct Authority (FRN: 521566) for the provision of payment services.
Money Laundering Regulation Number (MSB): 12219180. Issued by HM Revenue & Customs (HMRC)
Read our Money Laundering Statement