Home abroad: how to defuse the «traps « Sellers

23.01.2011 21:30
Buying property abroad - that has a lottery. We have already written about how to calculate in advance the object and illiquid voracious Realtor. However, to continue the discussion on what are still ways to trade used unscrupulous buyers overseas homes. Ways, these range from dubious to just frankly fraudulent. Here are just some of them.

Divorce ...

Related article: In Kiev, counted 40 «dead» unfinished

The most common fraud buyer from foreign developers - it's unfinished property due to lack of funds, or that is not better, due to a conflict with the law. It really is "hard case": if the negotiation process does not yield the desired results, we have to litigate in a foreign country and in other people's rules. In some countries it is also very expensive. With unfinished real estate buyers now face in many countries: the UAE, Egypt, Turkey, Bulgaria, Spain, etc. Therefore, all real estate consultants are advised to purchase only the finished housing.

But all of the risks and does not protect it. Developer can build an object, but not promised to build infrastructure or to manage on a different level, which promised to make a primitive finish instead of the promised "exclusive interior design."

"The price may include the so-called coefficient for the use of public premises. And when you buy 30 square meters may be that are 5 meters belong to the common hallway on the landing, - says Marina Golomedova, executive director Sunmarina Realty. - Or, for example, a developer instead of the promised 150 sq rents you an apartment of 120 sq.m. In Dubai, for example, you can not prove anything, because the measurements are made there "on the beams, and beams, these can be arranged as desired.

But if developers are cheating their customers, realtors and even more so. In the process of "hilling" they do not skimp on the promise, promise mountains of gold, and then the buyer does not find them either in reality or in a signed contract. That's classic "The Break-realtor". One of our compatriot fabulous sum sold in Austria palace mansion with the promise that he will receive not only property but also the title of count, which had the previous owners of the house. Hapless buyer boldly began to print on their business cards grand title. And only a year later, having decided to legalize their stay in this province, he learned that such a right is irrelevant to the real estate, and paying for family coat of arms, he gained only d?cor door, which was described in the annex to the treaty.

Do not, however, think that the sin of deception only for Russian brokers and Europe, for example, all white and fluffy. Thus, the ploy of London brokers - vparit rossiyaninu object in undervalued area - for example, in East London, inhabited by Indians and Pakistanis. There are bought and expensive apartments, and penthouses, built specifically per unsuspecting foreigner. Local brokers show the object at a time when it's not crowded and the buyer can not smeknut what's what, or explain the situation so that the area is young, but growing, forward-looking. Having bought the apartment, the owner can never sell it at the same price. To bring the same claim to the realtor hindsight is useless, because it formally or not guilty of anything.

Do not chase for cheap

As is known, is now in many markets, prices have fallen substantially. Many of the realtors in a hurry to use it: agitating for real estate on the cheap, assuring that when prices rise, the investor load with money. Then it turns out that the price increase and not think, but to sell the object is impossible. Sometimes at a bargain sale frank illiquid, and buyer claim that he is an incredible stroke of luck. "If the price of homes fell by 80%, while the other offers a discount of 10-20%, then surely this is quite understandable reasons. Either the price was originally too high when he put up for sale, or a property that is the gift of no use to anybody and will not be needed and in a few years, even if its sales price will rise "- says Igor Indriksons, director of overseas property investment Company IntermarkSavills.

Realtors often use low prices in advertisements as bait - this is old as the hills but are still working method of sales. It happens that the announcement of a cheap apartment encouraged interested buyers to call and get the seller, who will inform the client that the object is already sold out cheap, but there are better, but slightly more expensive. "Stated prices are for the most part are really tricks sellers and realtors to naive buyers - confirms Eugene Skomorovsky, Managing Director of« CENTURY 21 West. - Psychology buyer does allow the acquisition to increase the budget in the negotiating process. "

It may happen that this amount - only the initial fee when paying in installments or on the mortgage. "I know that these" attractive "prices are found in the U.S.. But there it means that the customer makes a specified amount of "real" money and the rest gets the credit, - said Andrei Kuchin, director of Prime Time Realty. - Then people are not buying real estate, and ownership of, say, 10 thousand dollars. Self-possession to start in 15 years, after repayment of the loan. " However, in our country, in fact, provides for administrative responsibility for such misrepresentation.

Likewise, the price may be starting price at auction. In some cases, realtors, sellers, an object of the bank, which he departed for his debts, put up in a declaration the approximate price, and then the buyer has to further harmonize it with the seller.

In addition, sellers in their ads often do not include the cost of VAT and other taxes. So what if the apartment in Bulgaria proposed for 30 thousand euros, including VAT and taxes its cost all of 40 thousand

Gold is an egg?

Recently, a very popular investment strategy for buy-to-let - «buy to let". Buyers are offered an attractive tenant for property abroad (some apartments and entire apartment buildings), which will bring the owner good percentage of the investment - in other words, the hen that lays golden eggs. Realtors are trying in their own way to play on the popularity of this kind of business. "We have stepped up foreign real estate agencies, mostly from Germany-based immigrants from the former Soviet Union, which through the Internet and at trade shows offer a" specially for Russian investors to invest in apartment houses, bringing from the lease of 20-25% per year, that the average yield of such real estate is 6-8%. In a detailed examination and testing revealed that the risks are high, profitability is not confirmed by the market situation ", - says Stanislav Singel, President of the International Agency for Overseas Property Gordon Rock.

Incompetent investor intentionally misleading, citing calculations based on unrealistic occupancy rate. For example, the advertised "rental yield - 26% per annum, but somewhere at the bottom of a very small print report that such profitability is achievable in absolute occupancy tenants, and the current level of occupancy - the income of 7%. Thus, the owner of the project instead of, say, an 8-year payback period can receive a 25-year-old.

Some agencies will even sell rent houses with guaranteed returns. However, as stated by Stanislav Singel, to such property, in principle does not apply the concept of a stable and long-term income: the maximum period of lease of apartments in tenement buildings, usually no more than 2-3 years. "And the more applicable concept of a guaranteed return," - he adds.

"Investment Consulting is not developed in our country. The business we have not licensed, and they are engaged in ordinary realtors. The truly competent people in the Russian market is very small - summarizes Igor Indriksons. - They are in the field of commercial real estate, because the consultants working with corporate clients that require calculations and guarantees, and residential real estate is sold on emotion ", and is benefiting people who can persuade and sell."

Themselves with a mustache

All military Tricks Realtors and sad experience, the Russians passed on from transactions in foreign real estate, lead to a denial of service brokers. As a recognized expert of a large real estate agency, fewer people are turning to Russian agents, the majority simply buy, where they like to rest, or where their friends have already bought. That is the real effect of not advertising in our market, and word of mouth. People bypass the property owners on the site and negotiate a price without any realtors. Two girls talking

In short, take the example of Europeans who do not always need additional mediators. In Europe, the market is sufficiently transparent, and real estate is reissued to the new owner must, with the participation of a notary or a lawyer. He checks the legal status of the object, a draft sale and purchase agreement and bears full responsibility for the cleanliness of the transaction.

However, there is another side to the coin. "For Russians, the complexity is often a lack of knowledge of language and law, and therefore more convenient for them to aid the Russian-speaking realtors that will help determine the choice, will organize translation of documents, pick the correct options, it is suitable for the Russians. In addition, if there is investment component, the assistance of Russian-speaking realtors need also to check the documentation, especially if it is a commercial object in bringing the mortgage, the lease for the required return ", - says Natalya Zavalishina, CEO Miel -DPM ". In short, the pickings domestic brokers to accrue to those who do not speak languages and are not oriented in a country where buying a house. And there are still a lot.


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