Investors urged to keep a cool head
Overseas property investors have been urged to remain calm when making a purchase.
According to Simon Conn of Conti Financial Services, owning a property in another country can be a very exciting prospect.
Therefore, he has advised prospective buyers to keep a lid on their emotions when making a transaction, as this could help them avoid potential problems.
Speaking to This Is Money, Mr Conn said people should act exactly as if they are buying a property in the UK.
He commented: "Don't let your heart rule your head.
"The principles you would stick to in the UK also apply when buying overseas."
Mr Conn has recommended that buyers seek independent advice from a professional who specialises in their chosen market's legal processes.
He added that people should never sign a contract they do not fully understand, especially if it is in a foreign language.
This comes after Paul Collins of the BuyAssociation website urged investors who are hoping to make some capital gains to have an exit strategy.
He recommended that buyers check there is a strong resale market in their chosen location, or they may be unable to sell their house on at a profit.
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