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Investment: Buying your property – the process and potential pitfalls

This article explains the usual buying process for a jet-to-let property and what to look out for when you are navigating your way through the plethora of salespeople, advisors and paperwork. However, this process is not the same in all of the locations that we feature. There are always differences in the detail, but the approach, procedures and potential pitfalls are similar.

The article takes you through the following:
• Selecting your jet-to-let investment property
• Selecting advisors
• Financing your investment
• Buying the property
• Taxation

Selecting your jet-to-let investment property

A bottom up approach is where an investor buys simply because of price and his perception of value. It is advisable to avoid this approach and to look for properties that have true investment potential.

‘There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man’s lawful prey.’ John Ruskin

Who should you buy a property from?

There are a number of sources:

1. UK estate agents
2. Local agents based in your chosen market or country
3. Direct from the developer
4. Large property agents
5. Direct from the vendor (seller)
6. Auctions
7. Property finders

There are pros and cons to each of the above methods.

1. UK estate agents

You only have to walk down your local high street to see the growing number of UK estate agents selling overseas property. These companies have rightly spotted an opportunity, as the growth in jet-to-let has made it profitable to have a UK high-street presence.

These companies work with larger organisations which pay them a commission for sales. UK estate agents tend to get a bad press, some deserved, some not, but generally most know what they are doing – at least in their own country. It is not certain whether a high-street agency is the best place for an international property investor to look, but it will not hurt to visit a few during your research phase.


More pages

Page 1:
Page 2: 2. Local estate agents
Page 3: 6. Auctions
Page 4: 1. Cash
Page 5: Currency risk
Page 6: The lawyer
Page 7: Power of Attorney
Page 8: Key points summary

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