| Buying a house in a foreing country can be a tricky | | | | success. Begin the application process by getting |
| business. When youwant to buy abroad, you better | | | | prequalified andpreapproved from a Mortgage Lender. |
| seek good advice. In many different | | | | Do this first. Your Agent willneed your mortgage |
| European countrys you find estate agents that speak | | | | qualification. Get your financial picture in focusas soon |
| more languages andcan be of good help to find the | | | | as possible. Since it is an important component, be |
| right property and to help you with tecontracts. It | | | | aware ofyour credit situation. Having your credit |
| can also be very important to ask a builder for a | | | | report in hand makes it mucheasier to decide which |
| reportof the building condition of te property you | | | | way to proceed. Homebuyers can also |
| want to buy before yousign any contract at all. the | | | | choosebetween existing and new housing. Existing |
| Inspection is designed to disclosedefects in the | | | | housing usually requiressome redecorating or repairs. |
| property that could materially affect its | | | | If you buy a new home, you can choosethe style of |
| safety,livability, or resale value. It is not designed to | | | | architecture and interior decor. |
| disclose cosmeticdeficiencies (for example, an interior | | | | Compare and secure homeowners insurance. Since |
| wall that needs paint touchup). You will need to | | | | homeowners insurance isa long term expense, getting |
| determine on your own those type of items thatwill | | | | the best deal here brings savings thatcontinue. |
| need attention: don't expect a whole house | | | | Arrange for closing agent or attorney. Do your |
| inspection to revealthem to you. If you start trying | | | | homeworkbefore bidding.Your opening bid should be |
| to find an inspector at that point,and cannot find an | | | | based on the sales trend ofsimilar homes in the |
| acceptable one to schedule it in that time frame,you | | | | neighborhood. So before making it, consider salesof |
| will only have two choices: go with an inspector that | | | | similar homes in the last three months. Once your |
| is not yourfirst choice, or run the risk of running past | | | | offer on thepurchase has been accepted you need |
| the deadline for theinspection (which could void any | | | | to finalise your mortgagearrangements. |
| chance having the seller take care ofrepairs). Neither | | | | CAUTION: Borrowing from a friend or relative doesn't |
| is an acceptable alternative! | | | | mean you canescape the serious consequences of |
| Don't wait until you have placed an offer on a house | | | | defaulting on the loan or fallingbehind on payments. |
| before you beginthe search for a home inspector. | | | | You could you lose what you put up for collateral. |
| Don't hasitate to ask anything you need to know | | | | You could be haunted by a collection agency. You |
| before signing andonly transfer money to the special | | | | could be taken tosmall claims court. You could be |
| account of a notary office. Therules for buying and | | | | sued. You could have your wagestapped. Family and |
| selling properties are in any country of Europevery | | | | friends can be tough when it comes to their money. |
| diffrent. One of the most important things you can | | | | Both of you should date and sign the document. |
| do is to makea checklist as you search for, find and | | | | Make two copies foryourself. Put one in your safe |
| buy a home. By keeping on topof your game-plan at | | | | deposit box and the other in yourfinancial file at |
| all times you will greatly increase your chancesof | | | | home. |