Tips on researching the developer or estate agent you intend using

Are you intending to use an estate agent or developer when buying your property abroad? If so, it is of primary importance that you use a professional company with impeccable credentials – but how exactly how do you set about checking on that? Here are a few ideas I have put together for you:

Start by asking the developer or agent the following questions:

1. How long have you been in business? If it’s under 5 years, you might want to proceed with caution. The younger the company the higher the risk that they’re not able to
compete with the long standing companies and/or offer a complete service.

2. How many properties do you build or sell per year? From 1 – 50, they are a small developer/agent and the good developers offer a proper client service. Small companies
are easy to work with as you know exactly who to call if there is a problem. From 50 – 150, they are a medium sized developer/agent and for the most part the service is similar to the small company.

Regarding developers that build over 150 - they are considered large and can sometimes be a bit impersonal, but you can usually rest assured that they know what they’re doing! Just
make sure that you will be provided with someone that is responsible and accountable for your property and that you have their direct contact details.

3. Do you always finish your projects on time or, if a project does go past the completion date, what do you do to compensate the buyer? You don’t want a developer/agent that says the build will be completed in January and it actually finishes in May!

Make sure you investigate and find out if they stick to their word or, in the case of an agent, you want to make sure that they are recommending developers that do what they say they’re going to do. And find out how they will compensate you if timelines drag on!

4. Do you have testimonials or can I meet some of your past buyers? Ask for testimonials and/or any feedback you can from people that have already purchased from the
developer/agent.

5. What are the financial options? Most new builds start with a 5 -10% deposit and then you pay the rest in stages. Furthermore, many developers are flexible when it comes to
the amount you need to pay and when so it’s worth the time and effort to get a breakdown from each developer. When comparing different developers the financial element is
usually a key component to the decision making process.

6. What other services can you help us with? Can the developer/agent help you with mortgages, solicitors, furniture packs and so forth? And what about the after-sales package: do they help you to get your new property up and running?

Obviously the one thing that you need to do is to talk to a previous client\: chat to locals and see what the opinion seems to be. Ask them if you can speak to a previous client – and be very wary if they seem reluctant to let you do this.

I hope it all goes well for you.


Kim
The Overseas Guides Company
http://www.Overseasbuyingguide.com