Too many agents to choose from!

southall · #1 30-03-2008, 01:35 PM

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

Rivermead Global Property · #2 30-03-2008, 08:40 PM

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 · #3 30-03-2008, 11:03 PM

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 · #4 31-03-2008, 09:06 AM

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

Rivermead Global Property · #5 31-03-2008, 10:36 AM

Quote:

Originally Posted by 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

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 · #6 31-03-2008, 11:15 AM

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 · #7 04-04-2008, 04:35 PM

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 · #8 08-04-2008, 09:35 PM

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 · #9 08-04-2008, 10:01 PM

Well said.

Quote:

Originally Posted by 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!

Sunny Days · #10 09-04-2008, 09:10 AM

Quote:

Originally Posted by alexft

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.