Real Estate Information |
|
Essential Buyer's Guide for Overseas Real Estate
It's been said many a time that overseas real estate buyers leave their brain on the plane when they step out into the sun in their overseas destination of choice. They've already fallen in love with the country, its people, climate and lifestyle and they've come to snap up that dream home. The trouble is the real estate agents in these popular destinations know that they have a captive buyer and so the buyer is in the ultimate vulnerable position! Add to this the fact that legal and financial processes differ from country to country and many people don't appreciate this fact and you have a real estate disaster waiting to happen! So, here's the essential guide to buying overseas real estate to protect the unsuspecting buyer from unscrupulous sales techniques or falling foul of misunderstandings and misinterpretations. 1) Get yourself independent legal representation - do not take the recommendations of the developer or sales agent you're thinking of buying from, do your own research. Check out whether your country's embassy in your overseas destination of choice has a list of lawyers they recommend. If not then get on the internet, find forums and sites dedicated to your country of choice and ask the people on these sites for their recommendations. 2) Never assume anything! Purchase processes differ from country to country, legal processes differ from country to country and your rights as an overseas buyer differ from country to country. Find out from your lawyer what your rights are and how the entire process to purchase should proceed. 3) Have any financing you will require agreed in principal before you set out on your hunt for that dream home. That way you will have a fixed budget with which to work - do not be seduced by a salesman into extending that budget. He wants you to as he will make more commission but it will mean you put yourself in a potentially untenable financial situation. 4) Visit as many properties in your price range as you can in your time overseas. And before you even get on a plane to fly out contact as many real estate agents as you can find and insist they send you prospectuses of all properties within your price range across all the regions you're interested in. With this information to hand sit down and go through the properties carefully. Find out what your money will buy you at the bottom and top end of the real estate spectrum so that you know what you will be viewing when you get to your destination. That way an unscrupulous agent will be unable to convince you that an overpriced property is anything other than a rip off. 5) If something seems too good to be true it warrants serious investigation! Occasionally we can find a bargain in life, occasionally lady luck smiles on us and our fortunes change - but if you always remain a little suspicious and bring on board as many experts as you need to in order to research a seeming bargain you will avoid making a costly mistake and you might just prove that it isn't too good to be true, it's a genuine opportunity. 6) Get contracts officially translated before you sign them. 7) Get any conditions of the sale written into your contract. 8) If buying off plan insist you see previous examples of the builder's work and speak to customers who have already bought and find out about build quality, ongoing customer service throughout the build period and also about after sales care and the guarantees you get with the property. 9) Make sure the houses you're viewing are built to withstand any climate or environmental hazards, for example if you're in an earthquake prone country properties should be seismically reinforced. 10) And finally proceed with caution and don't enter into anything that you wouldn't entertain back home. Just because you're in a different country it doesn't mean you've become a different person, you're intelligent, savvy and wise back home so don't change! Rhiannon Williamson is a freelance writer whose articles about buying investment property abroad have appeared in many investment and finance publications throughout the world. You can find more of her articles at: http://www.ShelterOffshore.com/
MORE RESOURCES: The Horse Realtor: Wyoming Real Estate Agent Focuses On Properties For Horse Owners Cowboy State Daily Even a State-Linked Giant Can't Escape China's Real-Estate Crisis The Wall Street Journal Real estate agent 'paid to stand there' after taking on controversial '$200,000 job' as side hustle: 'Bludge' Yahoo Finance Australia Two Floors of a Century-Old Mansion Are Listed on the Upper East Side The New York Times Massive Los Angeles real estate project has Hawaii connection Honolulu Star-Advertiser Erie County real estate transactions Buffalo News UTSA grad Stephanie Florez to pursue her real estate career in New York City The University of Texas at San Antonio Sarasota-Bradenton real estate pros don't see a big price drop coming Sarasota Herald-Tribune Midloch Investment Partners, Fountain Real Estate Capital acquire 123608-square-foot industrial property in Golden ... REjournals.com Montverde and the price of small town real estate WKMG News 6 & ClickOrlando Guthrie Center City Council to Consider Sale of City Owned Real Estate Raccoon Valley Radio Real estate firm Tishman moves into data centers, plans Frankfurt campus alongside Mainova DatacenterDynamics VIDEO | REAL ESTATE | Sneak peek at remodel as The Kettle starts to take shape washingtoncountyinsider.com Brooklyn real estate vets launch firm to build 10K housing units in five years Crain's New York Business Property manager takes charge of downtown towers, Offices at Atria Sarasota Herald-Tribune Partners Real Estate closes sale of 12644-square-foot daycare facility in Georgetown – REJournals REjournals.com Navigating Retail Real Estate Trends Globe St. Buying a home? Good luck. Here's why Rochester real estate is crazy Democrat & Chronicle Ask a Broker: No such thing as offseason in Aspen real estate Aspen Daily News Aspen Real Estate Snapshot, May 13 Aspen Daily News Delaware real estate home listing prices are on the rise The News Journal The week's top commercial real estate transactions in Charlotte, Collier, Hillsborough, Lee, Manatee, Pasco, Pinellas ... Business Observer Invesco Active U.S. Real Estate ETF (NYSEARCA:PSR) Shares Bought by Private Advisor Group LLC Defense World Wilton Real Estate Report (May 3-9, 2024): Four Homes and One Lot Change Hands - Good Morning Wilton Wilton Real Estate Report (May 3-9, 2024): Four Homes and One Lot Change Hands Good Morning Wilton Real estate market accumulates a record stock of apartments Realnoe vremya FY2025 Earnings Estimate for Boardwalk Real Estate Investment Trust (TSE:BEI) Issued By National Bank Financial Defense World PGIM Real Estate buys six UK student properties from Unite Group IPE Real Assets Weekly real estate sales from Douglas and Sarpy Counties Omaha World-Herald STAR resource center Department of Taxation and Finance Mantella Corporation Welcomes Real Estate Professional Gavin Gong as Director, Investments Elk Valley Times Tampa industrial park home to Ball Corp. sells for $94.5 million The Business Journals REAL ESTATE | A look inside The Lofts at Cedar Lake on the campus of Cedar Community washingtoncountyinsider.com VanTrust buys historic building in downtown Salt Lake City The Business Journals New Florida Law Roils Its Condo Market Three Years After Surfside Collapse - The Wall Street Journal New Florida Law Roils Its Condo Market Three Years After Surfside Collapse The Wall Street Journal Carey International Group Appoints Christopher Kane as Chief Investment Officer to Drive Expansion in Renewable ... SolarQuarter Is Boise Housing Market Booming? Expert Predictions on Rising Prices Norada Real Estate Investments Grand County Real Estate Transactions, May 5-11. Sky-Hi News $2.2 Million Homes in California The New York Times Syd Leibovitch Is Addicted to Realty Los Angeles Business Journal Trump confidant and real estate investor says Newsom's California, New York economies are a 'disaster' Fox Business Billionaire Barry Sternlicht expects one bank failure per week due to real estate's 'fragile' loans Fortune Seven industry associations join forces to develop real estate carbon pricing strategy Workplace Insight Navigating Real Estate Transactions Mehr News Agency - English Version Influencers in Retail Real Estate 2024 Globe St. David Auto owner's Main Line mansion finds buyer in under a week - Philadelphia Business Journal The Business Journals Refined Real Estate: Groovy Mercer Island home lists for $2,350,000 seattlerefined.com What is the real estate 'lock-in effect' in Rochester? It might cost you a lot of money. Democrat & Chronicle Inside Blackstone's Real-Estate Buying Spree As Valuations Plummet Business Insider Unpacking the Firestorm Over Blackstone's Real Estate Valuations Wealth Management Study finds Atlantans lost $1.25 billion in equity in real estate dealings with corporations WSB Atlanta One New York Office Building Shows the Stress in the $20 Trillion Commercial Real Estate Market Bloomberg Real Estate Showdown: A Brownstone vs. a Farmhouse Boston magazine |
RELATED ARTICLES
What's Your Style? A Guide to America's Most Common Home Styles Styles of houses vary across the country. From the New England Cape Cod to the Victorians of San Francisco, the choices are almost endless. Real Estate Investors - Red Alert How's the real estate marketing doing? Is the huge jump in home prices that is evident in some areas symptoms of a value bubble? Good questions, yes?Two things to keep in mind when surveying the market:1. All real estate is local,2. Give Your Home A Timeless Feel In the world of real estate, there is a huge difference between an old home, and a classic home. It's comparable to the idea of used clothing versus vintage clothing; only on a much grander scale. A $100,000+ Discount On Miami Condos By this point and time, many people have heard about buying preconstruction condos and some of the amazing profits that have been generated by these investments. What many people don't understand is that there is another way to play the preconstruction investing game, especially for those investors with solid financial resources. Selling Your Home on Your Own - Examples of Problems and Solutions What can go wrong? About a gazillion things, but this is true if you're working with a broker, too. A broker is probably more experienced than you, and may well have confronted and solved your problem on a previous home sale. Buying A Holiday Home in Rural Ireland Ireland has recently witnessed an upsurge in the number of investors buying holiday homes in some of the country's most scenic areas. With stars like Jeremy Irons and Daniel Day-Lewis popping up in the quaint villages of West Cork, prices in many of these areas are at a premium. Customer Service - The Real Estate Revolution Traditionally, real estate has been viewed as a sales industry. But perceptions are changing. A Difference Between Appraisal, Assessment, Home Inspection Every one should have a home inspection before purchasing any property, including new construction. You may think that's rediculous but there are too many cases that prove otherwise. Finding Structural Problems During Escrow - Small Rural Home Example In rural home purchases, the transaction is often subject to a satisfactory home inspection being done. Any imperfections are usually corrected during escrow. Real Estate Lease Option Danger Why are real estate investors having so much successoffering "rent to own" homes?Lease-options offer home ownership opportunitiesto folks with little cash and not so hot credit.Oh boy, there are plenty of those around. FSBO - Selling Your Home FSBO (for sale by owner) - Is It Worth It? FSBO, what is it? FSBO means For Sale by Owner, and it's a term that's generally referred to when you're selling your home without soliciting help from a Realtor.FSBO, what's the benefit to you? You'll save thousands of dollars in commissions if you sell your home this way. Directionals Move Properties One of the most effective and frequently overlooked methods of filling or selling a property is the use of directional arrow signs. I'm guilty of it myself, although usually I'm merely lazy instead of overlooking this great marketing technique. Achieving Positive Cash Flow from Your Real Estate Investments Even if you're counting on rising property values to eventually make a profit on an investment property, it's far more desirable to have a positive cash flow each month. If you're losing money on a property every month, it may not take long until your future profits will have been lost. Sell Your Home Without a Realtor and Save Thousand$$$ A typical real estate commission on a $234,000 home (national median price for all existing homes as of July 2005) is over $16,000. In many areas the cut a real estate broker gets is much higher. The Bubble Effect Turn on the TV at almost any time day or night and you will find news and talk shows informing us that there is a Real Estate bubble. What is a "bubble" and how do they know? The simple principle of what goes up must come down is being applied in general thought now and many in the public are starting to buy it. Feel At Home Faster After You Move Moving to a new community can be a great adventure, if you go with the right attitude and a sound strategy for settling-in. Incorporate these tips into an action plan, and you'll stay focused, organized and proactive-just what's needed to put roots down fast. Selling Investment Houses: Psychology of Mirrors Discover new interior Design Psychology strategies to increase your real estate profits. One technique, using mirrors as props for staging houses helps you sell your investment properties for more money, and fast. Investment Real Estate: An Inexpensive Way To Get Started If you are considering getting involved in investment real estate, let me offer some of the amazing information available in my wealth-building system, Winning the Mortgage Game. In several parts of my system, I outline a strategy for getting started in investing in real estate, without being a landlord. Alicante to Mar Menor - You can Still Find Cheap Property in Spain The Murcia region in Spain benefits from some of the most beautiful coastlines of Europe. Nowhere else will you find so many fascinating contrasts - with Spanish Mediterranean architecture, magnificent mountain ranges and beautiful long sandy beaches. How Can the Average Person Build Wealth in Real Estate? Books on real estate are a dime a dozen-and most focus on taking advantage of someone else's misfortune. They frequently describe lofty methods for buying and selling properties no ordinary citizen can be successful using. |
home | site map |
© 2006 TIGER MEDIA |