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The Croatian Property Market
Tips for buying abroad
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Tips for buying abroad*

1. Don’t sign anything you don’t understand, or have any doubts about.

2. Make sure that you are not inheriting any debts on the property. Get your solicitor to make sure that there are no developer’s debts outstanding that you may be liable. 

3. Get an independent solicitor, architect and surveyor to advise you ate every stage. Make sure that they are proficient in your chosen country’s law and that they know the possible pitfalls to avoid.

4. Don’t act on a whim - however much you instinctively know that you have found your dream home, give it a cooling-off period before you plunge in. 

5. If you are arranging finance on the property, make sure that you have got an opt-out clause clearly included in case the loan isn’t agreed. This will ensure you don’t lose your deposit. 

6. Better still, try and get your mortgage agreed in principle before you go ahead. 

7. Set up your mortgage in the currency that you earn if possible, unless you are going to rent the property out. If this is the case it might be better to deal solely in local currency, providing the lender agrees. 

8. Check out all possible extra charges and hidden taxes levied by the local government authorities. 

9. Open a bank account in Croatia and get a certificate of importation for the money you bring in. 

10. Arrange standing orders in a local bank account to cover taxes and bills. If you don’t pay your taxes, you could to end up having your property seized in lieu. 

11. Last but not least, don’t forget that bills don’t stop at the asking price. Legal fees, taxes, insurance, etc...must all be met in your new country and can add up quite alarmingly.

 

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