1 Use a known, reliable agent Choose an estate agent accredited by Federation of Overseas Property Developers, Agents and Consultants (FOPDAC). Beware the person at the holiday fair with no office, a mobile phone and a persuasive sales pitch.
2 Get an independent lawyer This goes for France too, where the notaire acts for both buyer and seller or in Spain where he/she acts for neither. You need your lawyer to check out all aspects of the purchase, from inheritance rights, clear title to the property and so on.
3 Get good tax advice You will have to declare any rental income, make tax returns both here and abroad (although double tax agreements mean tax paid abroad will be credited against your Irish tax liability). However, as far as capital gains tax goes, Ireland does not have double tax agreements with some countries, such as France. As of this month, any interest you earn in a foreign EU bank account will be notified to Irish tax authorities.
4 Check out the price Even if you know an area well, compare property prices in the neighbourhood. Some Irish buyers found they had paid an "Irish" price - notably in South Africa - which was up to 20 per cent more than the price for locals.
5 Make a will in the country of purchase This is essential if your dependants are to avoid any future hassle over inheritance.
6 The get-out clause If you go on a paid-for inspection trip, and are putting a deposit down in advance, get a written "get-out" clause entitling you to a refund within a reasonable period of time, eg a few weeks, should you decide against the purchase.
7 Count the currency risks In less familiar markets, currency risks need to be taken into account.
8 Rental income If you need to let the apartment/villa to help cover costs, research the rental market in the area yourself: what rents you can expect, for how many weeks of the year.
9 Check the fine print If buying a rent- guaranteed sale and leaseback property, check the fine print carefully as to exactly when/if you can use the property yourself, and if you can choose to take full possession - or roll it over -after the initial nine-to-11 year leaseback period.
10 Photo opportunity It may sound obvious but don't buy from photos, visit the location yourself - and don't sign on the dotted line over a jug of sangria.
