Buying property abroad without visiting: what you must control
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.
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
- 01Title and the developer's right to sell, verified by your own lawyer against the register.
- 02Permits and approvals actually issued, not applied for.
- 03The payment schedule: progress-based or date-based, and what each stage means.
- 04Where instalments are held, and who releases them.
- 05The delay provisions: grace period, extension events, long-stop date and the notice you must give.
- 06The 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.
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.
Read one before you buy one
The specimen shows the whole structure: status, what each payment was meant to buy, the forecast with its range, the photographic record and the limits of what was checked.