10 Common Pitfalls When Buying Property Abroad - WokeHome

Pitfall 1: Unclear Title

Issue: Seller is not the real owner, or title has disputes

Solution: Hire independent lawyer for title search

Issue: Price looks low, but taxes and fees are high

Solution: Request complete fee breakdown

Issue: Photos look great, property is terrible

Solution: Visit in person or hire trusted inspector

Issue: Cannot short-term rent after buying

Solution: Check HOA rules and local laws

Issue: Exchange rate fluctuations increase costs

Solution: Use forward contracts to lock rates

Issue: High commissions, false information

Solution: Use licensed agents, compare multiple

Issue: Unfavorable terms for buyer

Solution: Have lawyer review all documents

Issue: Poor management, high fees

Solution: Check management history, talk to owners

Issue: Landfill or highway planned nearby

Solution: Check government development plans

Issue: Renovation overruns, repair costs

Solution: Reserve 10%-20% as emergency fund

Remember: If it looks too good to be true, it probably is!