Property investors 'should make legal checks'

Those considering investing in overseas property should ensure they carry out all the necessary checks and precautions before they finalise a purchase, an expert has stated.

Christopher Chadd of Property Frontiers noted that buyers can make considerable savings on foreign homes if they target repossessed real estate, but recommended performing "all the necessary legal checks" prior to completing the transaction.

"Make sure the property has an absolutely clean land title, and that when you purchase, you own it in its entirety," he stated, advice that may be of use to those looking to buy property in Bulgaria.

Provided this is done buyers could be able to find themselves a bargain, he stated, noting that some repossessed real estate is available for up to 30 per cent less than its true value.

According to recent research by Currency Index, the price of property in may counties has fallen in the past 12 months, with the cost of purchasing a home in Bulgaria falling 19.7 per cent.

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