The number 1 rule to buying a property in the Baltics is to make sure you have a lawyer. You wouldn’t buy a property in the UK without a solicitor would you? Within this area we have a selection of articles that relate to the legal facets of property in the Baltics
The role of a notary
Like most of Europe, the Baltic States use a notary system for purchasing
property. In the UK notaries are not involved in property transactions and
instead both the buyer and vendor appoint their own solicitor, whose sole
interest is that of their client.
When buying in the Baltics though, it is wise to adopt this approach, so
pay for an independent solicitor to look after your own interests,
complementing the more neutral role of the notary.
The rest of the process More...
Tips for renovating in the Baltics
If you’re looking for a very affordable renovation project in a
lesser-trodden destination, perhaps a character rural cottage or townhouse
in an historic city, one of the Baltic nations could be a good starting
point. Property there is commonly available from around €20,000!
While there are few restrictions that govern EU citizens owning property
in Estonia, Latvia or Lithuania, each has its own jurisdiction and local
regulations, for example over ownership of More...
Lessons to be learned: buying in the Baltics
When the global financial crisis really got a grip in 2008, the property
markets of the Baltic states were hit as hard as any of the West’s
powerhouse economies. In the years leading up to the peak of the market in
2007, Latvia, Lithuania and Estonia were pitched as promising investment
destinations; former Russian states, they were promoted as promising new
countries set to benefit from being in the EU and consequent foreign
investment, as well as imminent membership of the More...
Finding a good solicitor in the Baltics
Purchasing a property is an important event in a person’s life,
whether the property is in your home country or somewhere else in the
world. It is a major deal and if the slightest thing goes wrong it can feel
like there is no where to turn and nobody who can help. The best way to
avoid these pitfalls is to be educated in the art of buying a property, and
if you are buying a property abroad, to be educated on that countries legal
system and know exactly what needs to be done to More...
What to look out for in your Baltic State contract
Purchasing a property in the Baltics can be a daunting prospect, however,
if you do research then the stress and problems can be greatly reduced.
Whether you choose to buy in Estonia, Lithuania or Latvia, here are some
general rules of thumb to keep in mind…
1) Understand every word: The first hurdle to overcome is going to
be the language barrier; this is why it is vital to employ a translator who
had a firm grasp of English. They will translate the contract for More...