Buying property in a different country can be a daunting project. Property laws vary between countries, currency exchange can be a headache, and often it’s difficult to find information regarding the area where the property is located. However, there are a few things that you can do before beginning a property transaction which can make the process run a bit smoother.
1. Find a reputable experienced international real estate firm when looking for property in France. Experience is the key when comes to dealing with the various laws regarding foreign property ownership.
2. Take a few weeks and visit the area where you are planning to purchase property. When you find the right property, try to work out an arrangement with the owner to rent the property for a month or two before purchasing to see if it’s really the home of your dreams.
3. Use the internet to find fellow expatriates who have already made the move and establish a network which will allow you to set-up local contacts and get first hand advice.
4. Check out various financing options. First, contact lenders in France; chances are you will be able to find financing in the area where the property is located. If that doesn’t work, contact financial institutions in your home country. Often if you own property in your home country, local lenders will allow you to use that as collateral for an overseas loan.
5. Set up a bank account in France before you begin any transactions. This allows you to easily wire money into the account and the bank takes care of exchanging the fund into Euros. Also, a bank account helps you to establish a financial presence in the country which will be beneficial when it comes to time to find financing.
by Joanne Mendes, AboutFrenchProperty.com - Copyright © About French Property
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