International Property Agents and their role
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International Property Agents and their role
Many people have a lifelong desire to live in a dream property, usually somewhere in the sun. And who can blame them given the weather which regularly crosses the UK. Sunshine is at a premium here.
Often, those people with the dreams are also very busy people who do not have the time to search for their dream home. So how do they fulfill their dream and find that property in the sun? Usually, they will engage the services of an international property agent.
I’m sure many people will be struggling to know what an international property agent does for their clients. In short, the agent will do everything for the client that they don’t have time to do themselves. They provide a turnkey solution to the purchase.
Identifying the requirement
Firstly, the agent will meet with the client to formulate a specification of the client’s requirements. Principal amongst these will be the general location of the dream home in terms of country or island. This will be closely followed by the proximity to local facilities. Does the client want to be close to a beach or in the hills away from a beach? Should the property be close to a town or village or in splendid isolation? Is there a need for public transport to be accessible or will the client have their own transport? Does the client want to purchase a property that is already built or do they want to purchase land and design the house themselves?
Once some of these details have been clarified, then the agent comes to the question of the property specification. This can be very taxing as people often have no clue as to what they really want. Sometimes it’s better for the agent to start searching for properties or land in the locality and to show the client plans and views before they begin to hone the client’s requirements to a fine edge.
Often the agent will have to make preliminary visits to carry out research on property availability, customs, legal and taxation requirements, ease of access in the location and other important details which make the dream come true. There’s not much point living in a dream home if you can only get in and out for six months of the year in the dry season.
Dealing with Due Diligence
Of course, the international property agent is engaged to take the strain of purchase from the client. So they are the people who carry out background research on the property, the title and land ownership. Generally, they will engage the services of a local lawyer for this purpose. If the property is still being built, then the due diligence extends to the developer, planning permissions, financial arrangements and other headaches. Ultimately, they provide the reassurance the client seeks prior to purchase. Not only is it the dream home they seek, but that it will not be demolished six months after moving in at the whim of a local government official.
Dealing with the Purchase
Having identified the perfect property in the perfect location the property or land has to be purchased. There may be competition, in which case there is urgency and everything has to be carried out at the double. There may be negotiation involved to secure the purchase and the agent may have to report to the client every step of the way. There will certainly be some work for the agent in ensuring that the correct papers are signed and delivered to the lawyers involved.
And,Finally
The agent may yet have to report on progress of the build if that is taking place and will continue to do so until completion.
After that, the agent has to arrange and supervise furniture and fittings locally or the shipment of the client’s belongings from the current home to the new.
Although international property agents do not come cheap, they really do have a lot of work on their hands to nurse clients through this long and arduous process. And usually, the client is a one off as they are unlikely to repeat the process, although they may very generously refer friends to the agent if they are totally satisfied with the service they provide.
It does have its perks of course, as the agent may get to spend some time in very desirable parts of the world where the sun does shine much more than it does in the UK.