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One of the most important stages in the purchase of real estate abroad is the buyer's viewing of the proposed purchase. "When working with my clients," says Nina Volkova, director of the Moscow representative office of Sultanhomes, "I insist that the client must inspect the object. Even when we go to the vegetable market, we twist and look at vegetables and fruits before paying for them. Of course, real estate transactions and the risks associated with them are incomparable to buying groceries! So it is necessary to visit your future property!"
On the spot, you should not only inspect the house itself and enjoy the view from the bedroom window, but also get acquainted with the settlement, infrastructure, the developer's office, study the documentation and preferably go to the functioning facilities of the company, in which people already live. This makes it possible to assess the quality of construction, comfort and coziness in the complexes, and the quality of service. Communicate with residents of existing projects: first-hand information will help to avoid possible risks and choose those additional services that are really necessary when concluding a contract.
"A year ago, when people thought primarily of Bulgarian real estate as a means of generating income, they could buy apartments in a new building without looking (by the way, many did so), but today the situation has changed," says Vladislav Kharitonov, a development specialist at Bulgarian Property Advisors. – In those recent times, we had a case when a woman bought an apartment in a house at the initial stage of construction, and then sold it with a decent plus, even without leaving Moscow. Now 90% of buyers travel to the country where they plan to purchase real estate, and we insist on this. Why? Yes, because most Russians today do not invest, but buy real estate abroad for themselves. For example, one of the buyers was looking for an apartment with a garden view. Found. He arrived and was disappointed, saying: "I thought there would be a view of the cherry orchard, but it turned out to be an apple orchard."

Packing your bags

Indeed, those investors who rely solely on earning income from real estate abroad, according to Ekaterina Bukova, CEO of the real estate agency Clifford Capital, may neglect a study trip. The expert believes that "in this case, the buyer analyzes the economic and financial indicators, the reliability of the developer."
Yulia Titova, head of the foreign real estate department at BEST-Real Estate Corporation, adds that there are cases when viewing will not help the buyer make a choice. We are talking about the purchase of housing under construction, especially if the client has already been to the area and knows it well. Any construction site does not make the best impression on people from the outside: it is often quite difficult for them to imagine how the complex will look in the end.
Ready-made housing or objects on the secondary market, as agency employees say, are now purchased without viewing by those clients who fully trust the recommendations of friends who visited the project, or if it is not the object itself that is important to the buyer, but the fact that his boss will also rest in the same complex.
The organization of the trip can be very different: some clients live with friends who have a home abroad, in a hotel that they choose independently or on the recommendation of the organizers. "But you can also live in a complex directly owned by the company," says Nina Volkova. – At least we provide such an opportunity to a potential buyer. We welcome you as a guest: we meet you at the airport, invite you to one of the equipped apartments or, if you wish, to the hotel, take care of the meals. The trip program is designed for three days and two nights. During the trip, we will help you get acquainted with the entire range of our facilities in a suitable price category, inspect the infrastructure, and communicate with employees of the company serving the complexes."
Yulia Titova believes that the most important thing in the study tour is the organization of real estate views: "The representative of the agency should make a schedule of trips and meetings in advance. Counting on the positive decision of the client, it is necessary to determine when a bank account can be opened, a transaction can be executed, etc. It is better to discuss the buyer's requirements and the details of the trip in advance, before departure, so as not to waste precious time on the spot." There are also special recommendations on what exactly you should pay attention to during inspections in each specific country.

The costs are borne by...

Usually, companies that sell real estate cooperate with travel agencies and hotels, minimizing the client's expenses. Ekaterina Bukova tells: "In Calabria, the client is met by a manager from the developer and, if necessary, an interpreter who will accompany the buyer throughout the visit. For example, the development company VFI is conducting more than 10 projects in Calabria. Of course, there is no need to inspect all the complexes, but to see those that most closely match the wishes of the client is the main purpose of the visit." At the same time, according to Ekaterina Bukova, most of the time is spent exploring the area, taking a tour of the region, getting acquainted with local cuisine, customs and traditions.
According to the company's rules, if the client has already made a reservation for an object before the trip, he can change his mind and reserve another one or confirm his decision by concluding a preliminary agreement.
Many clients combine viewing real estate with a summer vacation and thus make up an impression of what the place of future rest will look like in high season.
In case of purchase of one of the inspected objects, the selling companies often pay all the costs associated with the trip: the customer is reimbursed for the cost of flight and accommodation either separately or as a discount on the cost of real estate.
If the client is not satisfied with the options offered by the company, then the costs of the tour are paid by the failed buyer himself. "And this is absolutely logical,– Yulia Titova believes. "Otherwise, such buyers would eventually ruin real estate agencies."
"The approaches to organizing and paying for tours," explains Nina Volkova, "are different for companies. There are agencies that take all the costs on themselves in the hope of paying a high percentage by the developer. But there is a high risk that the agent will bring you not to the best object, but to the one for the sale of which he receives the highest percentage of profit. Our company's policy is as follows: if you are ready to pay for the flight, we can be sure that your intentions to purchase real estate are serious. We can also offer you the most favorable prices for tickets and hotel accommodation."

Be afraid of the Danaians

It is not uncommon for potential buyers, whom realtors bring to the country for a study tour or who are just on vacation, to be tempted to choose one of the many local agencies on their own or call the phone numbers listed in the ads from individuals. Due to the similarity of languages, it seems especially easy to formalize a purchase and sale agreement in Bulgaria, Montenegro or other Slavic countries. Fears of overpaying the Russian intermediary are also pushing for independent action.
It is undoubtedly possible to inspect and choose a house or apartment on your own. However, when making a contract, you should enlist the support of a lawyer who will be able to study the documentation for the object, draw up or verify the contract in both languages and submit all necessary documents for registration to state and municipal authorities. It should also be noted that it can take several months, and sometimes even six months or a year, to complete the documents on your own.
However, small local agencies that hospitably open their doors on the main streets of resort towns are not necessarily a trap for buyers, moreover, they may have offers that, according to Russian agencies, can attract interest only in the domestic market. In any case, it is better to choose companies that exist not for several months, but for several years and have positive recommendations. Otherwise, there is a very high risk of not finding your realtor after you pay part of the amount, or finding out after a while that the land or house that you intended to purchase belongs to another, unknown owner. Therefore, it is important that the specialist you are working with is within reach and has a reliable reputation.
Thus, it is certainly possible to use the study tour in order to familiarize yourself with a wider number of offers – at least in order not to regret missed opportunities after purchase. But you should not try to conclude a seemingly very profitable deal in these three days: the deal may turn out to be both unprofitable and unsafe.
In any case, you should not lose your head from what you saw during the trip. Impressions of the country and the hospitality of the organizers should not obscure the characteristics of the property – the main purpose of the trip.It is important that this marketing move of the seller company works for the benefit of both sides'.