Experience International recommends their clients base their property purchasing decisions when looking for property for sale abroad based on the following 5 key principles:

• Credibility
• Ease of Purchase
• Security
• ROI
• Exit Strategy

These stringent principles should be used on every property to ensure it is priced correctly.This is even more important considering the current economic climate to ensure their capital invested provides maximum returns at minimal risk. Through investing in a property using these principles ensures you are buying the right property and at the right price.

Credibility
Credibility is the key to working out the current price of a property and is derived from: Location, Quality of build, Developer’s track record and other comparable projects.  By ensuring the credibility of the development gives strength and guidance on what the asking price should be.

Ease of Purchase
The purchase procedure in every country varies hugely.When reviewing the asking price of a property also ensure you are aware of all the extra costs included.operty.And can include: payment plan options, taxes, solicitors fees, notary fees, finance and mortgage costs as well as the ongoing costs once you have purchased such as maintenance and service charges. The availability of mortgages or other finance should also be fully checked.

Security
As a standard procedure Experience International carry out strict due diligence on every project that they sell, however we also advise all clients to do their own research.Varioua checks need to be done including: seller has clear land title, Correct Licenses for the country, correct planning permission, Developer, banks lending criteria, valuations, comparisons against other developments and security of your deposit.

ROI
The sustainable income achieved from your property during its life time will ultimately be its future value.Buying property during the current economic climate is a real buyers market.The yield and future capital value are vital in determining the success of your investment.

Exit Strategy
A lot of the time clients do not think about their exit strategy during their purchase decision.  The profit is always made when you buy a property not when you sell, this means purchase a property wisely. Knowledge of your exit strategy options is very important to understand such how you will sell, what market exists, how demand and supply trends are moving, your current discount to market value, long term rental market if holding along with risks, what you can do to mitigate these risks and the worst case scenario.

A Case study
Zambrone Villas in Italy is a newly completed property in Calabria development is the perfect example of a holiday home that would suit the typical British holiday maker.  

Its asking prices are from €127,500 (£113,570) which you get a 2 bed, 1 bath semi-detached villa, with terrace, garden and sea views.

Location – Zambrone is a stunning area of Calabria, situated on the coast and boasts one of the best beaches on the Costa Degli De and close to the marina and centre for restaurants, watersports and recreational activities.

Size – the total plot including internal, terrace and garden is 263.95 sqm (£430 per sqm).This is way under current market prices and comparables considering this property is located at coastal location which often carries a premium.

Quality – This completed development has been built to very high standards and is currently being offered at off plan prices.Every property has already been registered at the local Building Registry ensuring purchasing in this development is safe and secure.

Specifications – research properties available nearby.The Zambrone villas are a gated development with a communal swimming pool plus all villas have fantastic sea views.

It is a good idea to compare like for like, so be sure your comparable properties are of a similar specification in terms of the number of bedrooms, bathrooms, reception rooms, furniture included etc. 

Rental Income – When looking for a property to draw in a strong rental income many of the above points will be very important in assessing rental values.  Every factor of this purchase indicates a very strong rental potential.

If you are looking at an investment property you need to work out the potential the weekly rental rate (or monthly if targeting long term local market) and likely occupancy rate. Local rental companies are an obvious source although you cannot always be sure you are getting the full picture. The internet is now an excellent tool for assessing rental values and demand so use it well to ensure the investment stacks up and the comparables you are using for the price will also provide some rental data. So in the case of the Zambrone Villas in Italy then simply do a search for Calabria property for rent in similar locations with the same or similar features and specification.

We hope these tips help and that you find happiness and success with your overseas property purchase and investment.

It’s well known that in UK real estate, local real estate markets are falling because individuals and real estate agents may have inflated views of property values. With sales volumes that can be up to 50% lower than the average, the average price of homes for sale is definitely trending downward. Another factor that’s contributing to this growing downward tendency is that many sellers tend to have an inflated idea of what their properties are worth and for this reason, they reject larger numbers of offers. This is caused by a discrepancy that can range up to 30% between buyer and seller. A seller who’s offering £100,000 for a UK real estate property and receives offers in the range of £70,000 is better likely to reject them.

Sellers Are A Major Part of the Problem

Owners aren’t listening when real estate brokers tell them their property value has fallen. In fact, property values in the present market can decline as much as 20% annually. One expert in real estate services places the blame firmly on the sellers: “As a result they [sellers] are unwilling to accept agent advice on appropriate asking prices or offers. Consequently, many properties are withdrawn from the market or remain unsold for long periods, producing an unprecedented low number of transactions. Unless their [sellers] properties are absolutely outstanding it is essential that they [sellers] adopt a realistic attitude and listen to advice if they want to achieve a sale.”

Costly Real Estate is Suffering Too

Another shocking aspect of this trend of UK real estate is that even high-end properties designated as “super prime” are not immune. A super prime property is one worth more than ten million pounds. Every real estate agent knows that despite foreign investment in these properties, the prices are still dropping. Rental prices are also dropping as more and more super prime properties flood the rental market.

Lenders Are Partially to Blame

Add to this the fact that mortgage rates are rising, despite government efforts to support failing banks. Bank of England recently raised rates from .2% to .5% despite interest rates dropping – meaning there’s no benefit to consumers. The banks circle the wagons, each claiming that the rates rise because all the other banks raise their rates. The same group behavior doesn’t take place when some rates get lower. Whether or not this is true, it’s still bad news for real estate in the U.K. And it’s even hurting news for consumers who are seriously looking to buy UK real estate.

Free foreclosure information on homes is available in all areas of the United States through newspaper advertising as well as through court filings. One of the worst scenarios for a family is the loss of their home. In some parts of the United States families seem to lose their houses more often than in other parts of the States. This is where people looking to take advantage of certain situations can find houses at reduced prices by knowing where to look.

In some US states a lender must file any claim through the law courts before issuing foreclosure proceedings on the borrower. Once a judge reviews and agrees the foreclosure information during a judicial review, they will then offer the defendant a specified time frame, usually 30 days, in which to make payment of the entire loan amount that the judge determines to be due. At the end of that time, if the borrower has not been able to meet the deadline set by the judge the court can then order the home to be sold at auction. Just because the court has ordered foreclosure of a mortgage, does not mean the homeowner has left it too late to stop the foreclosure auction continuing. The homeowner has right up until the day of the auction to pay the mortgage, along with all the costs and maintain ownership of the property. Because this foreclosure information is open and available to the public through the law courts people looking for an opportunity to buy a home before it goes into foreclosure can review court records and then contact the owner before foreclosure is authorized by the court.

Check The Facts Before Making Any Offers

Potential buyers should look at several issues that may affect the purchase of the property before making any offers, especially if it is being purchased as an investment. Whilst the foreclosure information provided to the court is likely to be accurate; if the home loan is quite new and therefore has not time to generate much equity, the amount needed to purchase the property may be higher than the propety’s value once all the associated costs are calculated into the final price. Negotiating a deal with the property owner can sometimes be far more beneficial than just dealing with the lender. One way to find out who the owner is is by looking through the foreclosure information in the newspapers. The lender knows that through auctions as well as subsequent civil action they can recoup the cost of the loan and legal costs incurred when trying to collect. And whilst it’s unusual for a lender to accept a lower amount for a mortgage, there’s no harm in giving it a go.

Information about the real estate industry is all around us. Between local newspaper real estate sections and the thousands of real estate-related web sites on the Internet, there are more resources for real estate information now than ever before. However, as these sources grow, the time spent by some prospective buyers and sellers with actual people decreases. Never forget that doing some ground-level fact finding can do wonders for you, especially as you endeavor to buy a home.

Face-to-face information will serve you well as you research a particular property. The neighbors, for example, will have great information on the property, including how it was treated by the previous owner, perhaps the owner’s motivations for selling and other information that you can then use to determine whether the home is right for you. In real estate transactions, this extra bit of information can be the difference between ending up with a home you’re in love with or a home you find out later has more problems than the façade first suggested.

Census information and local resources will tell you the basics of a home and its locations, but only be talking to those that you might eventually call neighbors will you get the full story on the block, the amount of activity it gets at night and other positives and negatives that will eventually weigh on your real estate decisions.

In the even that a particular home turns out to not be the right one for you, that personal information can also help you decide if a particular city is right for you in the first place. By broadening out your questions, you can get a wider view of the community and determine the positives and negatives of even pursuing real estate in that city. It may be the case that there are some key amenities that are too far away and that may discourage you from further pursuit of the city. Those are great bits of information to have before getting too far down the road in looking for a new home.

Aside from chatting up the neighbors, you can contact a local chamber of commerce of other similar agency, though be prepared to get nothing but a glowing review of the community. While that may seem to not be as useful, it is still certainly good to know the high points of a community and a chamber of commerce official will be all too happy to share those high points with you.

Some key things to ask about whether they concern a single home or an entire community are the level of crime, the quality of local schools, the fluctuations of local weather and perhaps the big events held in the area. These bits of information may not show up on a local MLS print out on a particular piece of real estate, but they do matter during the new home search and should be sought out.

Of course, it is a good idea to go back and verify the information you’ve gotten, if possible. If the neighbor is a good friend of the seller of the home you’re investigating, they may exaggerate the benefits of the home to help their friend complete the sale. Local residents may also over-sell their community with praise that might not entirely be accurate. Go back and research the claims you get if possible and sometimes with those claims as a starting point, you’ll come across information more easily.

Just as in many other aspects of life, the proliferation of information sources has put personal attention at least somewhat on the back burner. As you go about the important life decision of buying a home, make use of all routes possible, personal contact included, to get a full, complete picture of what you’re buying in to. A few conversations now can save you from a handful of headaches later.

Published by Joe and Colleen Lane, Realtors®. The Lane Real Estate Team services Tri City Wa Real Estate, Kennewick Wa Real Estate, Pasco Wa Real Estate, Richland Wa Real Estate, and surrounding Southeastern Washington Communities. Here is more information: www.joelane.com/

Possessing your own home is the biggest American dream. When you’re manically cleaning the lounge room in time for your next rent inspection, having to put up with your landlord’s love of lime green rug and generally stuck in a rent rut, it can seem like just that: a dream.

Feel like you don’t have any economies? Think about how much are you going to pay for rent every month and you’ll soon realise that this amount could be going towards your mortgage repayments, instead of making your landlord wealthier. Having your own home may be the doubled investment you ever make -and it’s one that can bring enormous benefits.

If all the people except you seems be climbing the property ladder, maybe it’s time for you to take this chance and live the dream. Find out how easy it actually is to move towards buying your own home and say ‘adios’ to your landlord forever.

For a start, any increases in holding values in your area mean more equity for you – it’s just like automatically adding to a savings account. You can also from the tax deductions for home loan interest and property taxes, which means you could make substantial tax savings.

On top of the financial benefits, imagine the sense of personal compensation that comes with owning your own home. You could be the king or queen of your own home. No more furnishings to other people’s tastes, rent inspections or limits to how many painting hooks you can have on the walls.

Then you can enlist the help of a mortgage broker or manager to find out the best home debt and repayment schedule for your requirements. The amount you can take for a home depends on your income, savings, financial commitments (such as credit cards and motorcar payments), living expenses, your credit history and the value of the property you would like to buy.

The best location to start is to find a respectable financial broker. They can go through your options and aid you to understand what kind of financial engagement you are able to make. You can find out about the government’s First Home Owners Grant and how you can put this to use in getting your place.

With a host of experts by your side, explore your selections for fulfilling the great Canadian dream and you could sack your landlord and be choosing your own carpet, curtains and kitchen sooner than you think.

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