Buying Overseas Property Off Plan: Due Diligence or Die

Maybe the title is a bit drastic, but doing your own due diligence can mean the difference between a dream home and a nightmare experience.

Off plan property can be very inexpensive, but I don't know about you, even £10,000 is a lot of money to me, and I quite simply wouldn't just hand it over to anyone.

At a push I would pay a reservation fee, but anything more and you will want to meet with the developer, at the site as part of a prolonged stay in the country. The rest of the stay will be spent researching the developer and the development.

Making sure the developer is financially solvent and that their survival isn't hinged on the success of one development -- especially not the one you're buying into. And making sure they have all the correct permissions and licenses to build on the development.

The permissions are particularly important, get a copy if you can, and if not make clear notes of the most important parts; especially how many floors the developer has permission for.

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