Too many agents to choose from!

[southall]

Hi, we are in the beginning stages of looking into investing in property in Turkey. It will be purely for investment, we are unlikely to use the property, we are looking for maximum capital gain at time of resale about 20 years from now on a maximum initial investment of 50k pounds. There are so many companies in the UK to choose from all offering inspection trips such as:
propertyrepublic
propertyturkeyforsale
paradorproperties
dreamhomesww
I am in favour of going with a company that specialises in Turkey rather than one that sells in a lot of markets. Does anyone have any recommendations? We are thinking of going on an inspection trip to Antalya with Propertyturkeyforsale, we live in Madrid and they offer a subsidised trip of 249 pounds. Anyone heard of them or worked with them? Should we hand over any money on the inspection trip or should we come back and think about it, if the latter then should we at least sort out power of attorney while there so we don't have to go back, should we use the lawyer they recommend or find out own? There are just so many weak links in the chain (agent, lawyer, developer) where we could loose money, how do we know who to trust? Is the off-plan price usually negotiable?

Sorry for so many questions hoping someone can help us...

Thanks,
Ranpal

 

[NeilHollingsworth]

Be careful on subsidsed trips, you don't get something for nothing?? It would be far better to go out independently and just make appointments with the various agents/developers. This way you get an unbiased trip and it allows you to compare the market place without having any pressure or hard sell applied. I hope this helps.

 

[alexft]

Dear Ranpal,

A subsidised trip of 249 pounds? I know a good few developers that offer inspection trip from 199.

Go to your chosen area of Turkey, have a look, come back, think about it carefully and then proceed.

In Turkey initial prices are always negotiable. Before buying compare price with buildings in the nearby area. Check the windows direction. Otherwise you end up investing in a hot house that nobody wants. Places in west and south west Turkey are generally tend to do well.


When buying in Turkey one needs to be very diligent.

P.S I know a small scale UK developer who is stuck for cash right now and selling few villas in Kusadasi. Might be a good deal at the right price. Also if you need specific area market intelligence I will be happy to help.


Regards,

Alex.

 

[southall]

Thanks so much for the info Neil and Alex, I get what you're saying about the inspection trip, perhaps we'll use it as a bases for our research since it'll be our first time out there, just have to make sure we're not tempted into signing anything while there. There are cheaper inspection trips from the UK but its more difficult to get to Antalya from Madrid where we live (8 hours traveling time!),hence it think the trip is a bit more expensive - wy cheaper than what it would be if we were paying for it though.

So what about lawyers, if i can get a recommendation from a personal contact of mine should i choose them over the one recommended by the agent/developer?

If we don't sign something while on the trip but then decide that we want to proceed is that going to mean we'll have to return to Turkey?

Thanks

 

[NeilHollingsworth]

Thanks so much for the info Neil and Alex, I get what you're saying about the inspection trip, perhaps we'll use it as a bases for our research since it'll be our first time out there, just have to make sure we're not tempted into signing anything while there. There are cheaper inspection trips from the UK but its more difficult to get to Antalya from Madrid where we live (8 hours traveling time!),hence it think the trip is a bit more expensive - wy cheaper than what it would be if we were paying for it though.

So what about lawyers, if i can get a recommendation from a personal contact of mine should i choose them over the one recommended by the agent/developer?

If we don't sign something while on the trip but then decide that we want to proceed is that going to mean we'll have to return to Turkey?

Thanks

No problem. The solicitor recommended by the developer needs to be an independent solicitor and if so then it would be ok to use, otherwise use a different one. If you do find something while there you could always sign over Power of Attorney to the solicitor then go home and think about it. If you do not want to do that you can always sign over PoA at a later date therefore you would not need to travel back to Turkey.

If you have a good agent they should be able to take you through doing this from your own country. Hope it helps.

 

[waynem]

Hi Ranpal, I have lived here for 3 years and I am an agent. Nothing is free in this life as we all know!! Advice for investment? Land, land and more land. Make sure theres already planning permission on it and then just sit back. Remember this there is no maintenence of land nature takes care of that. Also unlike villas and apartments land can NOT be replaced. Anymore advice needed just shout.!!!!!

 

[misch.chief]

Remember you can almost always barter the price of a place and don't give too much away. I know dream homes worldwide, and they are pretty good.

 

[jvizman]

you should always use more than one agent. just remember to find honest ones! they all work on commisions! but many of them try not only to find a good commision but to meet all YOUR needs and price range!

 

[alexft]

Well said.

you should always use more than one agent. just remember to find honest ones! they all work on commisions! but many of them try not only to find a good commision but to meet all YOUR needs and price range!

 

[Sunny Days]

Well said.

Good point...shop around...
Find out what the inspection trip involves....will you be accompanied 18 hours a day ? (sounds silly but a common tactic)....you cant think or shop around if the agents are with you for all of your waking hours....an independent trip may work out a lot cheaper in the end.

 

[Thomas Cole]

I'd recommend firstly taking your time to look around independantly at first and then once decided on a few shortlisted locations, consulting a property agent with your objectives clear in your mind, that way no-one will sway your opinion. This is of course better if you have a lot of time at your disposal. If your looking for an agent which gives good service and doesnt pressure you then I recommend using www overseasproperties4u com (entering'.'s where appropriate). The service was fantastic

hope that helps

TC

 

[jvizman]

i have seen people let themselves be treated that way. they tried to do that to me once i told him i would not go with him all day in his car then i would be at his mercy! i will take my car and look at all the projects I WANT TO SEE!!!! not all the projects he wants to show me! i am there to see what is best for me not him! i did not buy anything from him because of that! i later found out sitting in a resteraunt from a gov't minister that alot of his projects had major issues that would most likely stop them from being finished! he gave me tips on what to look for and what questions to ask! such as do the projects have all permits and deeds! where can i go to check! not just take there word! and to hire a buyers agent! i paid a $6000 retainer but saved myself a whole bunch of unknown trouble!! and ultimately it was all paid for by the seller of my property that i finally found! if you think good advice cost money imagine what bad advice can cost you!!!

 

[jvizman]

i see that is a good way to spend money and lose a lot of time. although i do agree to the point of do YOUR REASERCH! i feel a GOOD agent/s can send you alot of stuff via internet as to save you alot of time. alot of reaserch can be done at home via internet now a days. Even if you do not know what it is you want you KNOW what you do not want just look at everything else and narrow down the projects to the ones that you feel the best about!!!! when you have all the projects you want to look at from all the agents then go in strong with a plan about where when and how you want to talk to and see. Remeber to ask for diffent opinions and then form your own on your experience.

 

[TH4S]

southall Too many agents to choose from!

Southall there are a lot of agents closing.

Try putting TH4S into google search,they are still open

Hey, let's be careful out there,

 

[alexft]

TH4S you mean open like transparent? Other that than there are plenty of agents around and always will be.

 

[TH4S]

Nar you got the wrong one ....

TH4S =Turkish Homes 4 Sale. that one is in Turkiye, and always will be.


Transparent? you can see right through some AGENTS 'WEB SİTES'' ..


Estate agents 'closing branches' BBC NEWS | UK | Estate agents 'closing branches'

 

[DC]

Being an agent, I would say that you are focusing on the wrong thing.

You should focus on what you wish to buy. It is about the property.

Once you know what you want. Then you decide how you wish to buy it.

You can buy direct or via an agent.

If you buy direct or with an agent you still need to have some people on your side.

That is a damn fine lawyer, and ideally a bank.

With these 2 you will have alot better chance to get what you want.

And trust yourself and your judgement, go with people who you are comfortable with.

The issue of inspection trips has been in the professional property persons magazine. As inspection trips are not regulated by ATOL or ABTA, if something went wrong on an organised trip then, that is a big problem - they may be in truth illegal!

So do your homework, get your lawyer and finances sorted out, and go and have fun looking at things.

Individually, directly, with agents and with developers. Know the process.

Get the professionals on your side before you go. eg. Banks and Lawyers. thanks dc

 

[kusadasisun]

I am in favour of going with a company that specialises in Turkey rather than one that sells in a lot of markets. Does anyone have any recommendations? We are thinking of going on an inspection trip to Antalya with Propertyturkeyforsale, we live in Madrid and they offer a subsidised trip of 249 pounds. Anyone heard of them or worked with them? Should we hand over any money on the inspection trip or should we come back and think about it, if the latter then should we at least sort out power of attorney while there so we don't have to go back, should we use the lawyer they recommend or find out own? There are just so many weak links in the chain (agent, lawyer, developer) where we could loose money, how do we know who to trust? Is the off-plan price usually negotiable?

Sorry for so many questions hoping someone can help us...

Thanks,
Ranpal

IMHO...

Just go there for a holiday during the peak season.
See different areas of the town.
Visit many agents, instead of getting one agent following you day & night.
Return home.
Do your homework on the internet. Go back again with a shortlist you prepared during the low season, you'll have more time and more negotiation power.
New developments are usually marketed by several agents. Talk to different agents about the same properties to make sure everybody talks about the same price & package.
Pick your own solicitor instead of going with the one hired by the sales person.
Off-the-plan price is usually negotiable unless the project is a very very large one. If you cannot negotiate the price, then negotiate for the aircons, furnitures etc.

>how do we know who to trust?
Probably the lawyer YOU hired will be the one to trust although nobody can guarantee it.

Good luck!

 

[Paul Murphy]

Inspection trips can be hard to judge from alright if you can see an area yourself you might be better off

 

[cece]

I don't know what others say but my advice is first learn the locations of Turkey, where is suitable for investment. Don't lock yourself just for one place.