'Get a lawyer' when buying Brazilian property
Date added: 10th March, 2011 at 09:06
(view all articles from March, 2011)
Categories: Property News
People looking to buy Brazilian property have been advised to hire an independent lawyer.
Presenter of A Place in the Sun Amanda Lamb said that those purchasing real estate overseas should ensure a professional looks over any contracts before they sign them.
She described getting an independent lawyer as "the most important thing that you can do", explaining that individuals buying property directly from the developer may have to pay a reservation fee and are at risk of losing the money that they have put down if an expert has not seen the papers.
Additionally, Britons should not rely on the cash they could make renting real estate out to cover the costs of purchasing it and should ensure they can afford it from the start.
"Don't buy it and think it will be alright, we'll rent it out for 20 weeks of the year and we'll be fine. And don't get carried away," she said.
Some people may be making an investment in Brazilian commercial property and they may be interested to know that the Bela Paulista Building in Sao Paulo, which was bought by Standard Life Investments, is now fully let, according to Property Magazine International.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of Brazilian property