Brazilian property buyers ‘must perform legal checks’
Brazilian property investors looking to buy repossessed real estate should make sure they make all the necessary legal checks, an expert has advised.
Christopher Chadd, head of research at Property Frontiers, said that buyers should ensure that they make sure their potential purchase has a clean land title.
Whether they are buying in the UK or looking for property in Brazil, investors need to ensure that they undertake a survey on the real estate and its grounds.
"Repossessed property can often mean the previous owners may not have had the money to carry out running repairs and sometimes the properties can have underlying structural and internal problems," he explained.
Mr Chadd added that they should also ensure that when they buy their Brazilian property, they own it in its entirety.
Meanwhile, Alexandre Marinis, writing for Bloomberg, recently suggested that the Brazilian property market could be the site of the world’s next housing boom.
