Unfortunately a lot of people have been badly informed in relation to buying in Romania by agents who jumped on the Romanian band wagon for their own gain without regard for their investors. These agents who usually are British & Irish or Irish and British reflect very badly on the opportunities available in Romania.
A lot of people who have already bought in Romania really now need to do their due dilligence as I feel as much as 80% of the foreign advisers/agents have either deliberately or negligently misadvised there clients.
Investment Romania will try to answer short questions of peoples interest so as to allow them to make an informed decision. We cannot write essays but can give guidance for your benefit.
Feel free to ask so as to get insight and also beware some things you currently believe may not infact be true.
Examples of current mistaken beliefs are.
1. Buying through a company does not mean you avoid paying Vat.
2. The law does not state you must set up a company.
3. The agent may not do a good snag list for you before completion.
4. You will not get 10% rental return.
5. The promised terms of your mortgage may not be as you presumed.
6. Your property may not have increased the promised 40% over the past 2 years.
7. Management fees for the property must be known before your agent signs your contract.
8. You will not avoid capital gains tax after 3 years.
9. At this time getting a furniture pack is not your priority.
10. Taking time to read this post and maybe clarifying your position is time well invested so that you will not be pressurised at completion
While some of you might be disturbed by this post and think there is no potential in the Romanian market you could not be further wrong. This is an exceptional market with great potential, but unfortunately some agents who are your own nationality have already taken the investment out of peoples investment.
David Howe
Investment Romania - Property Romania, Invest Romania, Investment Romania