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"The Overseas Buying Guide is an excellent document - clear, concise, easy to read, and very useful. I particularly liked the property detail sheets - very useful when snagging etc."
Many thanks.
"Dear Kim, Thanks to your top tips we asked our developer if he had an insurance bond and to our surprise he did not...We quickly pulled out of the deal and found a developer that would be able to return our money if they went bust. We absolutely loved the property analysis and financial sheets - they truly helped us to decide on our future property. "
Thanks for the guide! Sally &Tom R
Estate agents – how they work
Buying a new house in the UK is daunting enough, but buying one in another country is a whole other worry. Not only are there prices, areas and different laws to consider but what about finding the right estate agent to help you through the purchase process? Along with your solicitor, your estate agent is one of the most important people involved in your overseas purchase as they will need to be trusted to look after your best interests and hard earned money.
The likelihood is that you will have already experienced buying a home in the UK and therefore will have dealt with your fair share of estate agents; however, you should be aware that other countries do not work in the same way as the UK and there may be significant differences in the way foreign estate agents work.
It is important to research the agent fees that you can expect to pay in the country you are moving to. Estate agents in some countries charge a lot more than they do in the UK, whilst others are much lower; find out beforehand roughly the percentage you can expect to pay, and then you will know if an agent is trying to charge you above the odds for their service. In some countries fees are paid by the vendor, while in others they are split between the vendor and purchaser, but are still negotiable.
Regulations on the selling of property vary country to country while in other countries the real estate industry is not regulated at all. Some agents have very little or no training in selling property, but countries such as America and France insist that agents are registered, and in the former realtors are subject to ongoing assessment. It is important to try to find an agent who is at least very experienced, if not registered, and some can be found which have registered with the AIPP (Association of International Property Professionals). In countries that require agents to be registered, there is no harm in asking to see their credentials.
Once you have found a good estate agent you will find the whole process of buying abroad a lot easier as they will act as an informal guide, translator and friend throughout the whole process. They will also be able to offer plenty of advice about the local area in which you are looking to buy, including the amenities and other residents there.