Overseas Real Estate Blog

Today I start the first part of three parts in the Ten Top Tips series. Today its three Top Tips for viewing overseas property:

Top Tip No. 1: Should I go on an agent's viewing trip?

Viewing Trips, Inspection Trips now often called Discovery Tours. Should I go on one? Well it depends, I advise some pertinent questions to ask before embarking on one of these trips. Many are excellent but some sadly still resemble a time share horror story of the 70's. That is, high pressure, hassle, confusing and a waste of time.

So you have narrowed your choice down to an area to buy and you know how much you have to spend and you have probably seen some properties that interest you. But the approach for such things should vary according to what you are looking to buy and who from.

For example if you have £10,000 budget for a rural house in Bulgaria with the best will in the world you will need to spend a large amount of time and you may well be best to pay agents to show you around their property. Agents have to make a living and two days of viewing for £400 of commission may not be their idea of making a living.

On the other hand you have £100,000 for a Cape Verde property your agent will invest 4 hours a day for 3 days to make sure you find the perfect home for you.


Top Tip No. 2: Picking the right viewing trip for you.

I find a lot of buyers in emerging markets are not 100% sure if they want to buy or indeed exactly how much they have to spend. The reason is they do not feel 100% confident that the location is a good investment, or that the location is where they might want to retire or indeed spend their holidays. The best way here is to pick an agent who will show you most of what is available that fits your criteria.

So for example, we have clients who go to Hurghada in Egypt not sure if they should buy there front line, near the town, further away, in Sahl Hasheesh, in El Gouna or Gamsha Bay. Here we find that a 7 day trip, nice hotel, at least three morning viewing gives time for them to get to know what will be best for them. Places often feel very different to pictures on the internet and of course all property buying is a set of compromises for price and location and these are very personal and best decided without pressure and with time to think.

So if you are in this category of buyer then choose a real estate company that will show you a good selection of property and who can explain what due diligence is available. Good agents want happy buyers who will recommend them to their friends, so they will point you in the direction of quality property rather as well as always the cheapest. Ask to see cheaper and more expensive property so that you can see the difference and ascertain the difference in value.


Top Tip No. 3: Limit number of viewings on one day and take a digital camera

Often its a case of spending time walking around the area, asking questions and observing what is likely to be built around, behind, in front and to the side if there is nothing currently there. Will this building affect you for years and years or not at all? Take digital pictures to refer back to.

View in the morning if its a hot country in high season and relax when its too hot and use this time to study the plans, prices. Is kitchen, bathroom, parking or furniture included?