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What You Need To Know When Buying Property Overseas

Many players choose to buy property overseas. The expected dream holiday home or rewarding investment has become a reality for many who had the right guidance. However, those that don’t access this risk a very costly, stressful and time-consuming experience.

The main issues with buying overseas is a lack of thorough understanding of what you are buying and knowledge of the uncommon local legal system as well as the excitement of the possibilities leading to potentially rushed and unwise decisions.

We are aware of numerous players who have suffered the consequences of not accessing independent expert advice when purchasing abroad. Former Premier League player Danny Murphy recently said in a Daily Mail interview that his overseas property investments proved “disastrous”.

What could and should have been a positive experience for players and their families have sometimes turned into a source of worry, frustration and regret.

Accessing the right support

We wanted to help and protect players in this area and that is why we have teamed up with Judicare Law. They possess decades of experience advising clients, including football players, on buying properties successfully in countries across the world.

They also help those that have turned to them to resolve things after they’ve gone wrong. This gives them a thorough understanding of what to avoid and the potential pitfalls when making a purchase.

They are able to guide their clients through the whole process of buying a property in a foreign country, as well as advising on issues such as how property abroad affects inheritance, tax and other important issues that you may not have considered.

When buying abroad it is important to always use the services of an independent lawyer rather than one “recommended” by the seller or estate agent. Only then can you be confident that their sole concern is protecting your interests.

Problems frequently occur when the buyer hadn’t realised the less visible costs of buying a property such as legal fees, notary fees, taxes or, if applicable, mortgage costs. With their budget under pressure, they unwisely attempt to save money on lawyers, surveyors and other essential advice.

These apparent savings greatly increase the risk of problems occurring later which can end up being extremely expensive and stressful.

Judicare Law are able to guide you through the entire purchasing process, providing a reassuring “hand holding” service including the exchange of contracts, payment of the deposit and registration of the deeds.

With them by your side you can be confident you understand what you are buying, your expectations are realistic and there won’t be unpleasant surprises later on. With their support, your expectations from owning an overseas property can be met.

Judicare’s CEO Neil Heaney commented, “We are delighted to have teamed up with Player4Player. As a former professional footballer, I’m acutely aware of the issues which can arise when buying property abroad, and so by working with the team at Player4Player we believe we can add real value to their proposition and provide specialist guidance and protection to their members in this area.”

Player4Player co-founder Gareth Farrelly was keen to announce the partnership. “We know lots of players that have been really happy after buying property abroad, but there are far too many that have had an unnecessarily bad experience after not been well-advised. Judicare Law provide a solution that players can trust and will help to ensure they get the benefits they expect from owning an overseas property.”

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