Frequently Asked Questions
If you are unfamiliar with buying property abroad this section aims to give an idea of the process involved to help you feel more comfortable. Our property advisors are always available and happy to assist in any queries you may have about buying abroad.
General Questions
Q1 – If I buy ‘off-plan’ with then intention of selling before completion, what are the success rates for ‘flipping’ properties before the 18-24 months?
It is very important to us that our short-term investors have the greatest opportunity to sell on before completion. We therefore only sell a specific % of each development to those wishing to sell on (typically 20-25%). This greatly increases the ability to sell on.
We will also actively market the client’s unit to potential clients wishing to purchase near-complete property.
Q2 - What options are there for financing my property?
There are several ways to finance your property abroad. It is very important to have your funding in place prior to your reservation as properties are normally exchanged and completed within six weeks.
If you require finance to fund the purchase of your holiday home the most common ways are to obtain a conventional mortgage or release equity in your UK property by re-mortgaging. Another option could be to use a personal pension via a SIPP (Self Invested Pension Plan).
Q3 - Do you have details of the tax implications of my property purchase?
The taxation on your property purchase varies from country to country. For example, Margarita Island is a tax free zone but in Spain you will pay a 7% purchase tax.
©2009 Destini Worldwide All rights reserved.