Do you want to buy the property of your dreams abroad and are you looking for financing? It is quite possible, but when one embarks on such steps, especially for a good of such value, it is important to know some preventive tips.
In Switzerland, standards and quality standards are high. But this is not necessarily the case in the rest of the world. Therefore, have the property in question checked by a specialist who will tell you precisely the condition of the latter. While all of this will come at a cost, it will usually be cheaper than having to pay for repairs to your pocket afterwards.
How does the land register work ?
Land registers abroad are not as well kept as with us. In Spain, it is for example possible to conclude a contract on a property without having to register it in the land register. Several questions must therefore be asked:
- Is the property encumbered with a right of use or right of way? (The property would be yours but a person, for example the former owner could still use the property when he wishes)
- Is there a mortgage note on the property? That is to say, is the property pledged as collateral in the event that the debtor concerned by this schedule should repay a significant debt.
- Is the property subject to work restrictions?
For all these reasons it is important to call on a lawyer or a notary when buying a property and then have it registered in the land register of the country concerned. Do not hesitate to seek advice from a specialist before confirming your purchase.
How to calculate the taxes?
Obviously, being a homeowner has many advantages, but that does not exempt you from having to pay taxes on this property. In general, real estate is taxed in the country or region where it is located. In addition, double taxation agreements prevent double taxation (in the country of residence and in the country where the property is located).
You will also have to pay the transfer tax on the purchase of the property, which generally amounts to a maximum of 5% of the amount of the property.
Use a trustee to help you calculate the cost!
What about buying real estate in Switzerland?
Unfortunately, in Switzerland, it is practically impossible to advance equity (between 10 and 20% of the value of the property) with money from a consumer credit, these funds should not be associated with a credit or other loan.
It would theoretically be possible to buy a property in cash, but the maximum amount of a personal loan in Switzerland is 400,000.- and given the price of real estate in our country, this limits possible real estate acquisitions.
How to finance the purchase of real estate abroad?
At YeSavers Finance, we analyze all the offers on the market to find the one that best suits your needs. We help you finance your property abroad, by offering you our skills, and helping you in your efforts.
Thanks to our services, you also benefit from the best market conditions:
- An amount of USD 3,000 to USD 400,000
- An interest rate from 4%
- A repayment duration ranging from 6 to 120 months
YeSavers Finance is also:
- Completely free service
- Personalized advice
- A competent team at your service