AIPP • WHA T IS THE BEST PIECE OF ADVICE...?
“WHAT IS THE BEST PIECE OF ADVICE
YOU COULD GIVE SOMEONE THINKING ABOUT BUYING PROPERTY OVERSEAS?”
AIPP members give you their very own ‘top tips’ for buying property abroad...
“Be ready to buy; “agreements in principle” for fi nance are harder to achieve nowadays. In Spain, property is selling for less than it can be built at the moment, so that holiday home is now affordable. You need to know what you can and cannot afford before looking and getting carried away; a prepared buyer is a relaxed and contented buyer! Only use accredited agents and have your deposit ready, but not in your pocket!” Steve Long, RightBuy Homes
“Use an AIPP member who specialises in the country and area of your choosing and listen to their advice. Set a budget you are comfortable with and stick to it. View properties within your budget and that suit your requirements. Make sure, as far as possible, that there will be a future market for whatever you buy, so you have an exit strategy. Above all, it’s your money, buy the property you want and enjoy it.”
Carol Chant, Dream Homes Orlando Ltd
“Use a professional organisation with extensive knowledge of the overseas property market. Check out their credentials, meet with them face to face in order to establish your target market and ensure that they are members of the AIPP and other professional bodies.” Adam Woolley, The Worldwide Property Group
“If you are looking for a holiday home overseas, visit the location fi rst and make sure it is somewhere you enjoy and has enough to keep you coming back year after year. If you are investing in property, do your research: fi nd out who the property you are investing in will be sold to and how much demand there is for property in that area. Use the internet to fi nd out as much as you can about the people you are dealing with, from the agent to the developer and the end user. Buy only what you can afford to spend now.”
John Broad, Grup Natal Brasil
“When considering buying into a fractional ownership real estate scheme, ensure that the developer has provided a robust legal structure to give ample consumer protection and peace of mind during ownership. Ensure that you do not hand over reservations or deposits at the time of selecting your overseas home as you are entitled to a 14 day cooling off period. And, if your development is not complete, ensure that your payments are held in a secure escrow account providing protection should your development not be completed.” Nick Turner, The Registry Collection
34 AIPP CONSUMER GUIDE
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