Buyers Guide to buying abroad
J & J Overseas Property feels it is essential to identify what our clients’ strategy and requirements are at the start of the process.
Once J&J have clarified the following main criteria:
- Reason for purchase
- Ideal location, location, location for the client
- Type of property required
- Clients budget (Including taxes and costs)
- Facilities and local infrastructure required.
We can look at our current portfolio we have already researched or commence a new search for the client. That process will include checking the following.
Bank Guarantees:
Stating that the developer or constructor runs of funds prior to the completion of the project, the bank or an insuring party will return funds to the investor.
Building Licences:
If a building license has not been granted and we believe that the proposed development as a pre-release is advantageous to the property investors, we will make sure that deposits are being held in an Escrow account and only will be released to the developer when all relevant licences have been granted.
The Developer:
Previous projects are without doubt the best point of reference to future projects. We only offer projects from experienced developers who have high standards, and equally important a reputation for completing on time.
Land Title Confirmation:
Obviously we will make sure that the developer owns the land on which they intend to construct on.
Re-Assignable Contracts:
Are important when operating a “buy to flip” strategy. In order to do this the contracts must be re-assignable. Without a re-assignable contract the investment could be rendered useless.
Build Quality Guarantee:
We always make sure that the builder offers a guarantee on construction and a detailed quality specification.
Clearly some clients have a very cautious approach, while others take a more adventurous or speculative stance. No investment is completely risk-free, but in understanding our clients’ strategy, we can point out the risks as well as the potential rewards.