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Useful Guide of Morocco Overseas buying property and land for development
Rember! Buying a property anywhere abroad can be an exciting, but sometimes a stressful experience with investors, developers, real estate agents, brokers and direct owners. Here are some tips to help you get through without too many headaches.
You need to decide where you want to buy your property abroad. This decision is linked to why you want the property and how you are planning to use it. If you just want a base in your favourite holiday spot, it's a pretty straightforward choice. If you're investing for a good sale return, or planning to purchase a land for your project development like tourist or residential project in Morocco, you have to be aware of the facts, either way give us a call, tell us your plans and we can help you.
What sort of property or land?
What sort of property or land do you want? A city dwelling, an apartment close to the beach, or a private villa with a pool? Perhaps you'd like to renovate a farmhouse or build your own home on a plot of land. Are you a high end developer looking for a large plot of land for developing a tourist or a residential project in Morocco? Decide what you want before you go looking. Be concise and clear about your plans and enquiries before to contact us.
How much are you willing to spend on your real estate project?
Decide on your budget before you start looking for properties and land for your project. We can then help you find properties and land where you may get more for your money. Remember to include legal fees and other administrative costs in your budget, we can help you with all this.
How do I Find and go to view prospective properties and land in Morocco and how much does it cost?
Use a well-established, registered professional estate or property agent or broker to help you find your property or land in Morocco. We can help you to find properties and land that match your requirements and we can also recommend solicitors, notaries and other professionals who can help your purchase to run smoothly.
Make sure that you travel to the country and view a range of Land and properties. We can make up a good shortlist of properties that fit your individual criteria, which will save you time and effort. PLEASE be very careful about so-called fly and buy trips - the pressure to buy from the sales team - many of whom work on a commission-only basis - can be horrendous. Only go on a fly and buy trip if you are certain that you are better at refusing than they are at selling.
And beware - the sales people are very clever indeed. It happened to many clever investors, buyers and even high end developers. So be with the right honest and serious professionals who are originally from the country. This advice apply also for all overseas property market. Many real estate have closed their agencies and their businesses and immigrated to Morocco and other emerging market to sell properties and land even they don't know anything about that country pretending that they know everything because they are salespeople.
Overseas Real estate Laws
Laws governing the purchase of property differ from country to country. Before you put in an offer for a property or a land abroad, make sure you know what the local regulations are, and appoint a registered solicitor who can explain everything to you before you sign any documents. The same goes for taxation legislation and any other rules that you have to follow as an overseas buyer. For Morocco it more easier and we can help you whit all that. All our land and property are well selected and titled dealing with solicitors who knows the Moroccan law and legal paerwork.
If You don't speak the language you will need a reputable local multilangual solicitor and . We can help you with that in Morocco only. Make sure to get advice from us. Our team speaks French, Arabic and English.
Yes, usually there are local taxes, stamp duties etc to take into consideration. Just ask us what percentage of the sale to factor in for this and you won’t go far wrong.
What about day to day running costs?
You will be made aware before purchase whether service charges apply. You'll need to open a local bank account, as services such as water and electricity may only connect you if you sign a direct debit. We can usually recommend good local management companies that will be able to help you in running your home when you are living away. For a reasonable charge you can have peace of mind. As us for this.
Visit the website of a professional Moroccan and British team. They don't need your money but they need your trust to invest in Morocco with confidence and happiness.