I have lost count of the number of estate agents I have spoken to and here’s the really strange thing. You would think that, in these economically challenging times, service and efficiency would be their mantra wouldn’t you? But not so with many that I have spoken to or dealt with.
I still believe that the best way to go about looking for a property is with a good, reliable and local property agent – but how do you tell the good from the bad?
My son is toying with the idea of buying a small flat in London and asked me to have a look at a few flats on his behalf. “Could we make it over the weekend?” I asked the agent. In South Africa, where I lived for years, this is the busiest period of an agent’s week – after all, most people buying a property actually work. “No”, was the dismissive reply, “we don’t work weekends”. I was absolutely outraged – what am I paying them commission for if they won’t accommodate my needs?
ANYWAY, after that little rant, what exactly sets a good agent apart from a bad one?
1. Telephone manners: If I had to name my pet hate, it would be when I phone a business and I sit for hours pushing buttons and just plan hanging on. I want immediate attention and, if there is no one who can attend to me immediately, I want my number taken and a return call with 15 minutes. The end…
2. Dependability: If someone says they will call me back, I want them to do so. If they say they will send me a few property details to look at, I must receive them within a short time. If I can’t depend upon them on the small things, how on earth can I trust them with thousands of pounds of my money?
3. A good website: Today there really is no excuse not to have a clear, concise website with lots of properties of all sizes and shapes. The site should be error free – if they can’t be bothered to check how they are perceived by others then they have no pride in themselves or their company. And I want a little extra: an agent I know writes a monthly blog telling of exactly what’s going on in their area – in this case, in Corfu. It makes a huge difference – you feel you know both the place and the person before you even get out there.
4. Honesty: Finally, but most importantly, they must be upfront and honest. Yes, it may take months before you get a phone installed. No, you don’t have access to the Internet yet in that area…do you really want to find out this kind of thing afterwards? Obviously not. It seems to me to be so short-sighted, as a few chats to locals will reveal the truth, and if they lie about small things then you’d be crazy to trust them in the big things – right?
I know this all sounds very obvious, but what I have found is that many people become a little distracted when buying abroad. Things that they would not hesitate to insist upon in the UK seem to escape their notice. Remember, this is not a new best friend that you need to be afraid of offending, this is purely a business relationship and you need to protect yourself against any possible misunderstandings or, even worse, shortcomings in your new property.
Good luck – and remember that help in the form of the OGC is at hand if you need it.
Kim Brown
The Overseas Guides Company
http://www.overseasbuyingguide.com
Wednesday 26 January 2011
Wednesday 19 January 2011
Final checks before buying a property
I feel that some points are worth expanding on: I have this mental picture of someone taking YOU for a ride and me, too late, wishing that I had warned you, or elaborated
on something...
Here are a few thoughts that flitted through my mind about the final checks that you should be making before you sign your contract and commit yourself irrevocably.
Don't lose sight of the fact that you purchase the property accepting the condition that it is in on completion or on the date you sign your contract. Make sure that you are aware of anything that might have changed between the signing of the preliminary contract and completion or the final contract. If you are not in the country, get someone you REALLY trust to check this out for you.
It is important to check that nothing has been damaged in any way, for example by storms, earthquakes, vandals or the previous owner. If you have a lawyer or are buying through
an estate agent they should accompany you on this visit.
Also, do a final inventory check to make sure that you have everything that was included in the price. Do check that the appliances have not been substituted for cheaper models, that any fixtures and fittings such as light fittings and curtains purchased are still in place and that the garden is in the same state as when you first viewed it. One of my friends was startled to find that, when she moved in, all plats in the garden had been removed!
If you find that anything is missing or damaged, act immediately, before the final payment is made. If needs be, get your lawyer to delay the signing of the deed until you are completely happy. It will be almost impossible to get redress and satisfaction later. If you leave it too late and need to take this to the courts to get redress, years may elapse before something is done about it – if at all.
Until next time...
Kim
The Overseas Guides Company
http://www.Overseasbuyingguide.com
on something...
Here are a few thoughts that flitted through my mind about the final checks that you should be making before you sign your contract and commit yourself irrevocably.
Don't lose sight of the fact that you purchase the property accepting the condition that it is in on completion or on the date you sign your contract. Make sure that you are aware of anything that might have changed between the signing of the preliminary contract and completion or the final contract. If you are not in the country, get someone you REALLY trust to check this out for you.
It is important to check that nothing has been damaged in any way, for example by storms, earthquakes, vandals or the previous owner. If you have a lawyer or are buying through
an estate agent they should accompany you on this visit.
Also, do a final inventory check to make sure that you have everything that was included in the price. Do check that the appliances have not been substituted for cheaper models, that any fixtures and fittings such as light fittings and curtains purchased are still in place and that the garden is in the same state as when you first viewed it. One of my friends was startled to find that, when she moved in, all plats in the garden had been removed!
If you find that anything is missing or damaged, act immediately, before the final payment is made. If needs be, get your lawyer to delay the signing of the deed until you are completely happy. It will be almost impossible to get redress and satisfaction later. If you leave it too late and need to take this to the courts to get redress, years may elapse before something is done about it – if at all.
Until next time...
Kim
The Overseas Guides Company
http://www.Overseasbuyingguide.com
Wednesday 12 January 2011
Viewing trips
I am often asked about Inspection trips, so here are my thought on this sometimes contentious matter!
Once you know your objective, have set a budget, decided upon the area that you’re interested in and understand the process, you should then make arrangements to visit. The longer you can stay the better. There are all sorts of packages that property companies offer; some even help to pay your flights and accommodation – yes, the ‘inspection trip’.
Inspection trips can vary considerably from agent to agent. There are some that are prepared to pay for a client to inspect their properties, paying for flights and accommodation. Others offer a rebated trip and deduct the expenses should the client end up buying a property.
Some go the route of one of my favourite agents in Southern Crete. They don't fund inspection trips per se but organise viewings and take as long as people need, usually a day or so, but it can be longer, as part of their service. They encourage people to first drive around themselves, as the ‘where’ is the hardest thing to decide upon. Once this is independently decided, then generally the property presents itself. Generally people then book time with them, are taken to the office, chat about what they want, are shown some property pictures and then driven around to different areas and properties they have chosen.
One of the biggest property developers has a different take on the matter: they ask for a £1000 reservation fee up front once the client has decided that they like the look of one of their properties. Then there is a ten day ‘cooling off’ period, in which time it is advisable to actually go and view the property. You can reclaim the money within that time if you decide not to go through with a sale.
They expect clients to pay their own air fare but will provide accommodation for 2 nights – in other words, it could be a three day stay. The price of the air fare (with a maximum of £200 each) will be deducted from the price of the final cost of the property once the deposit has been received should you buy through them and the £1000 will also go towards the price…sounds fair to me.
I asked yet another of the agents that I recommend and he tells me that by “inspection trip” they do not mean a two week holiday at their expense. They have conditions, which they explain to the potential buyer upfront, that include a rule of no more than 2 nights/3 day’s accommodation and the airfare pegged at economy class for no more than 2 persons.
“Any entourage of fan wavers, case carriers and general hangers on is just not catered for” he added…!
So...it’s up to you. Just remember this: deciding on which estate agent to use is one of the most important decisions you will make, and you need to be able to walk away if you decide that they are not to your liking or they are showing you unsuitable properties. This can be difficult to do if you are in an overseas country at their expense…
Give the OGC Resource Team a call. They are there to help you with this and many other things too: 0207 898 0549
Kim
The Overseas Guides Company
http://www.Overseasbuyingguide.com
Once you know your objective, have set a budget, decided upon the area that you’re interested in and understand the process, you should then make arrangements to visit. The longer you can stay the better. There are all sorts of packages that property companies offer; some even help to pay your flights and accommodation – yes, the ‘inspection trip’.
Inspection trips can vary considerably from agent to agent. There are some that are prepared to pay for a client to inspect their properties, paying for flights and accommodation. Others offer a rebated trip and deduct the expenses should the client end up buying a property.
Some go the route of one of my favourite agents in Southern Crete. They don't fund inspection trips per se but organise viewings and take as long as people need, usually a day or so, but it can be longer, as part of their service. They encourage people to first drive around themselves, as the ‘where’ is the hardest thing to decide upon. Once this is independently decided, then generally the property presents itself. Generally people then book time with them, are taken to the office, chat about what they want, are shown some property pictures and then driven around to different areas and properties they have chosen.
One of the biggest property developers has a different take on the matter: they ask for a £1000 reservation fee up front once the client has decided that they like the look of one of their properties. Then there is a ten day ‘cooling off’ period, in which time it is advisable to actually go and view the property. You can reclaim the money within that time if you decide not to go through with a sale.
They expect clients to pay their own air fare but will provide accommodation for 2 nights – in other words, it could be a three day stay. The price of the air fare (with a maximum of £200 each) will be deducted from the price of the final cost of the property once the deposit has been received should you buy through them and the £1000 will also go towards the price…sounds fair to me.
I asked yet another of the agents that I recommend and he tells me that by “inspection trip” they do not mean a two week holiday at their expense. They have conditions, which they explain to the potential buyer upfront, that include a rule of no more than 2 nights/3 day’s accommodation and the airfare pegged at economy class for no more than 2 persons.
“Any entourage of fan wavers, case carriers and general hangers on is just not catered for” he added…!
So...it’s up to you. Just remember this: deciding on which estate agent to use is one of the most important decisions you will make, and you need to be able to walk away if you decide that they are not to your liking or they are showing you unsuitable properties. This can be difficult to do if you are in an overseas country at their expense…
Give the OGC Resource Team a call. They are there to help you with this and many other things too: 0207 898 0549
Kim
The Overseas Guides Company
http://www.Overseasbuyingguide.com
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