Problems with renting, buying and selling property abroad

People interested in renting, selling or buying various properties overseas are commonly faced with a wide range of difficulties such as language barrier impediments, limited market evaluation possibilities, as well as poor access to information regarding the advantages and disadvantages of closing a certain deal on foreign land. In order to get the best out of a given transaction, one generally needs to spend a lot of time and invest a lot of effort in doing the required price-service research, carefully analyzing the benefits and the minuses of choosing one offer over another. Whether you wish to sell, buy or rent apartments, villas, houses or land in remote locations, the recommended thing to do is request the services of a reliable third-party. With the help of a solid Real Estate company, you will be able to quickly find the best apartments and villas to rent or buy, and you will also receive proper assistance and counseling on selling such properties.

There are various Real Estate companies and agencies out there that provide customers with high-quality services that account for the subtleties of finding and closing the best Real Estate deal overseas. The trick is to find the company that best satisfies your needs and requirements, the company that can help you achieve your goals in exchange for affordable price packages. In order to obtain the best results, you should consider employing the services of a Real Estate company that sustains and promotes its activity via the Internet. This way you will be able to achieve a better exposure for the properties you wish to offer for sale or rental, and also keep track of other properties if you are interested in buying or renting. Efficient Real Estate companies offer clients the opportunity to browse through an extensive and well-structured database of classified ads and submit their own announcements online, free of charge or in exchange of previously established monthly or annual fees.

Classified ads are properly categorized into multiple sections, include descriptions of the properties available for sale or rental and are also accompanied by suggestive images, helping customers form an idea about each individual advertisement. If you are looking to buy or rent apartments, villas, houses, townhouses or land overseas, simply use the classified ads feature and find the announcements that best satisfy your needs. Once you have found the most appropriate house, apartment or villa to rent, all you need to do is contact the ads' submitter and negotiate the terms of the transaction. Similarly, if you are interested in selling such properties, write and submit your own ads and you will be contacted by potential clients.

Greatly simplifying the process of closing effective Real Estate transactions and helping customers overcome the difficulties of buying, selling or renting apartments, villas, houses and other properties overseas - reliable, competitive and cost-effective Property Management Services are an important feature you should look for before deciding to collaborate with a Real Estate company. Such services usually include: accommodation services, property services (client meeting, security, cleaning), property research services, legal services, translation services, chauffer services and many more.

Depending on factors such as the type of the transaction and the location of the property you are interested in buying or renting, you should request an appropriate package of services that can help you overcome the difficulties of the deal. For instance, a good lawyer can inform you about the hidden costs behind the transaction, such as local taxes. Another advantage of having a good lawyer is that it can accelerate the process of closing the deal by taking care of all the required documents. In addition to employing reliable legal services, you should also consider hiring efficient translation services when renting or buying properties overseas. Such services will take care of translating all the documents you require, thus overcoming the language barriers you may come across when renting and buying properties overseas.

Before closing a deal, it is also advised to employ the services of an experienced surveyor. Once hired, surveyors perform elaborate on-site investigations, verifying the condition of the property, establishing an estimate on the overall value of the property and providing clients with concrete information about the advantages and disadvantages of the transaction. Surveyors are vital for people interested in buying or renting apartments, villas, houses, townhouses or land overseas, as their report clearly reveals the worth of a certain deal.

A more consistent report generally includes the following: information on the location of the property, amenities (swimming pool, gardens, view, tennis court, etc), the materials used in building the property, the condition of the property (substantial or negligible faults, results of testing the interior structure for dampness, information regarding the existence and condition of the drainage system, insulation and damp-proofing), repair costs, the precise value of the property on both the local and open markets, recommendations for further specific inspections, etc. With the help of an extensive survey report, the client can easily prepare his next actions and decide whether to close the deal for the initially established price, renegotiate its terms and costs, or even cancel a problematic deal.

The Dream, Reality and Problems of the Expat Living in Spain's Costa Blanca

This article is the first in a series about the dream, reality and unfortunately nightmare of the expat living in Spain's Costa Blanca. This first part deals with whom, why and how people end up falling for the dream of living in the sun and how it can be the best decision ever made by some people.

There is a time in most people's life when they sit back and think that there must be something better in life. Some people have an affair, some people opt for plastic surgery or a fancy sports car and some people pack it all in, in search of a better life abroad.

Statistics from the office of national statistics show that of the 300,000 citizens that leave the UK each year half head for Australia and New Zealand, 42,000 head for France and the USA/Canada and a massive 58,000 still head for the sunny shores of Spain, all in search of a life changing opportunity for the better. The prospect of a new home, new culture, new job, new language and new house prove all too irresistible for thousand of people, couples and families each and every year.

With the proliferation of tv programmes catering for every whim of the expat lifestyle and dedicated channels on satellite television, of course the prospect of buying a dream villa set in fragrant almond groves with mountain view to the back, a pristine white washed village on one side and friendly locals to the other whiling to spend long lazy days drinking sangria and the azure Mediterranean glistening in the distance. A cooling swimming pool (designed to your own specification of course) sits by your side as you fondly remember the drudgery of life back in the fast lane.

For some people this dream has turned into reality. One of my clients made the move some 4 years ago and have not had a single regret. Ignoring for the moment the change in the interest rates which have seriously affected the ability of many abroad to continue living la Vida loca.

They one sunny afternoon in 2004 whilst in London visiting friends decided to go along to the ideal home exhibition or the day. Whilst perusing the many stands they came across trade stand with a mock villa with a very reasonable price tag.... the seed had been planted. Over the next few months they proceeded to send off for brochures, purchased magazines, viewed websites and did the research anyone considering making a move abroad would do. One evening whilst watching TV an advert caught their attention.

"Thinking of moving to Spain????? Our experts are flying into the UK this weekend for a special exhibition at Jubilee suites at Chester racecourse!" With nothing to lose they jumped in the car and trundled off down the road for some no obligation perusing.

Several hours later, they had booked themselves on a "Free Inspection Tour" or should I say the Spanish property experts had. They would be enjoying a 5 day 4 night luxury break in Spain's Costa Blanca, staying in a 4 star hotel, all meals and accommodation would be paid for, their flight were subsidised so cost no more than £50 each, all they would have to pay for was drinks.

They would be given an extensive area tour on their first day to find the areas that they liked as it was more important to get the location right than the property. The subsequent days would be spent looking for the property in the areas that they previously deemed suitable, what happened after that was anyone's guess. So back in late 2004 off they left a cold wet and windy Britain and jetted into a balmy Alicante. With the temperature still in the mid 20's the scene had already been set.

They were met at the airport by their uniformed guide called Peter who with a friendly greeting took them out to their liveried car and drove them on the coast road down to their hotel. There was no mention of purchasing property and Pete chatted to them about how he came to be living out in Spain. They were later to learn that everything Pete said was virtually pre-determined by the powers that be, and the soft sell that they were experiencing was all part of a cleverly executed series of steps know as the seven steps.

Introduction - tell client about yourself (sell yourself).
Company - Build confidence in the company (sell the company).
Area - Complete a 300 km area tour (sell the area & lifestyle).
Product - find the property in their budget within area (sell the house).
Finance - arrange finance (sell the mortgage/loan).
Contract - complete sales contract.
Consolidation - be nice to them, don't give them any reason to cancel.

Now there is nothing wrong with sales, after all everything is sold to some degree or other, but this was a non stop 5 day 4 night sales pitch that was clever due to its subtlety. I will cover the ins and outs, good and bad of the sales process in a future very interesting and revealing article.

Peter the rep was very articulate and knowledgeable and had lived in Spain for a few years. It was obvious that he was trying to steer them into certain areas and styles of houses but they stuck to their guns and in the end found a beautiful site on the outskirts of a picturesque village nestled in the mountains some 30 km from the coast. It was an off plan development and they had a choice of house styles, plots and house orientations within the plot.

The formalities of applying for NIE numbers, appointing legal representation, signing contracts and paying the obligatory EUR3000 property reservation fee were all completed with little or no fuss whilst still out in Spain.

Some five days after embarking on their information obtaining, non obligation, FREE inspection visit they have committed to spending some EUR350,000 on a property, selling their property in the UK (not even for sale yet), selling their car, retiring.

You would be amazed at the amount of people who actually purchase on these trips. During the peak in the early to mid 2000's the inspection trip companies expected their reps to sell to at least 40-50% of their clients. Many of these clients like my parents were on information gathering exercises with absolutely no intention of purchasing and some had never even been abroad before.

In my clients case it proved to be the best move that they could have possibly made with very few snags along the line. They sold their property in the UK at the correct time. They purchased from a reputable builder on a good site in a great area and importantly they are surrounded by great neighbours. They have integrated into the local community and are learning the language.

The above is an example of moving to Spain or anywhere else abroad for the right reason. Many do not. In my line of work snagging properties for clients I come across a wide variety of people and their reasons for making the move. The key I feel to making the move a long, happy and successful one is to come because you want to and not because you have to.

In my next article I will uncover some of the practices of the free inspection tour companies and show you what to look out for and where you can save yourself a few pennies.