Buying and controlling remotely
Buying property abroad without visiting
Control four things: who represents you legally, what the contract says about stages and delay, where your money sits between payments, and who looks at the building on your behalf. Everything else can be delegated; these four cannot be left to the seller's side.
Buying without visiting works if you keep four things under your own control: who represents you legally, what the contract says about stages and delay, where your money sits between payments, and who inspects the building on your behalf. Everything else about a remote purchase can be delegated to somebody else; these four cannot be left to the seller’s side.
Your lawyer must not be the developer’s
In several markets popular with foreign buyers it is normal to be introduced to a lawyer by the agent, who was introduced by the developer. That arrangement is convenient and it is not representation.
Engage somebody with no relationship to the sale, qualified in the country of the property, and instructed by you. It is the single highest-value decision in a remote purchase and the one most often made by default.
What to control before signing
- Title and the developer’s right to sell, verified by your own lawyer against the register.
- Permits and approvals actually issued, not applied for.
- The payment schedule: progress-based or date-based, and what each stage means.
- Where instalments are held, and who releases them.
- The delay provisions: grace period, extension events, long-stop date and the notice you must give.
- The specification annex, line by line, because it is what the finished property will be measured against.
What to control during construction
- A record of what is built, on a regular interval, made by somebody who is not selling to you.
- Every revision of the completion date, in writing, kept.
- Confirmation before each payment that the trigger has actually occurred.
- The pre-closing window, before walls close on services and structure.
Powers of attorney
A remote purchase usually needs one, and its scope is worth as much attention as the contract. A power drafted to let somebody complete a purchase is different from one that lets them accept the property, sign an acceptance document, or vary terms.
Be specific about what may be signed on your behalf, and exclude acceptance of the property unless you intend somebody else to make that judgement for you.
Buying remotely is not the risk; delegating the four controls to people paid on completion is. Independent legal representation, a contract you have read for stages and delay, money held away from the seller’s reach, and an independent set of eyes on the building are what make a purchase you never visit a safe one.
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Questions on this
- Is buying off-plan abroad without visiting reckless?
- No. It is normal, and it is how a large share of these markets sell. It becomes reckless when the four controls above are delegated to people whose interest lies with the sale.
- Can my agent handle all of this?
- An agent can coordinate it. An agent whose commission depends on the sale completing should not be the one judging whether a stage is complete or whether a contract clause is acceptable.
- What if the market has no escrow requirement?
- Then where your money sits is a contract term rather than a statutory protection, and it is worth negotiating explicitly rather than assuming.