Is it real to buy overseas property directly (without agent)

[Lewis]

Thanks for such a detailed response.
To be honest my mails posted so far are aimed at the novices who knows little or nothing about investment and to try and give them an idea of what can happen so when they go into a property show exhibition they may know what to look out for and know the sign of pressure tactics used to get them on an IF or to sign on the dotted line.
Also creating awareness of whats involved in buying property. They are not directed at any agent in particular.
Its the big corporations i have issues with not the little man. The little man is actually being squeezed badly by the large greedy giants that are charging huge commissions from developers. I should have made this clearer in my post as it was not aimed at you.
I have no problem with agents as i have bought through one and will at some stage will again but i fell for the young family man with a big mortgage walking into exhibitions knowing nothing. As i said on most of my mails, I'm trying to enlighten and not to offend. Nothing personal intended. I have had experiences that i feel may help someone.
Your business sounds very exciting and makes me wish i was doing the same thing

No offence taken mate - just ruffled my feathers a bit - I'm a big boy I'll survive it. I've met several of the sort of casualties you're referring to, in my experience it's the big company rep(tiles) who are the one ruining this profession. Don't get me wrong I'll fight tooth and nail to make my commission I need to eat too! But there's a fair and right way and in my books and absolutely wrong way to be determined. It's a line I'm not prepared to cross and then lecture my kids that they have to be honest afterwards.
Not that exciting at the moment mate the hard times are biting.
But you are right the highs are sky high and the lows are one rung above suicidal but I love it and only came into it by accident too! We set up a company to buy fix up and sell at auction (without having the foggiest idea what we were up to) A short while later and a million mistakes later (which is why I post here - name the mistake and I've learned about it the hard way)Including the choice of partners!
Nothing to stop you doing it alongside your day job. It doesn't take a huge investment of money - more an investment of time and hard work with no return early on. Stay honest and people will start talking about you and contacting you.
Wish you luck.

 

[ovidiu]

advice

I think it would be more profitable. I'm interested in property in US or Europe. If it is real then could you provide some boards with such advertisements. Thanks.

you should try Romania.
There is a company there that provides from legal framework, architectural designs, Construction Company, Range of Consultancy, accountancy and Capitol Raise. i think Ovra or something like that. they have even banks to finance your projects.
Check them

 

[Genesis]

If you buy in Bulgaria, buyers are charged with no commission.Usually the seller/ builder is the one who pays the commission to the real estate agent. And it is always safer to buy through an Agency.

 

[Lewis]

If you buy in Bulgaria, buyers are charged with no commission.Usually the seller/ builder is the one who pays the commission to the real estate agent. And it is always safer to buy through an Agency.

Why would anyone in their right mind (and with their own money) want to buy in Bulgaria?

It has suffered from the worst of excesses at the fringe of outright robbery in this business and just as was prophesied by myself and others has imploded - please convince me that Bulgaria is the next great thing and everything sells within minutes of being put on the market.

 

[out2c4us]

How much do you value your time...

The agent is there to help you save time and to narrow the search apart from the obvious which is to give you information on the area you have selected (very important when you are outside your geographical area.)

Do you need to listen to the agent? Well, in part yes because you'll want to double check what you're told. And part no because he is interested in selling what is on the books and not necessarily what you are looking for.

Why pay an agent? hassle free shopping. Do we worry when we pay commissions on mortgages... Well why should we be concerned about paying an agent.

The important thing to remember is the seller pays the agent and right now, like in Spain, if you want a discount, you can probably squeeze the agent.

If you want to buy direct from a developper do your homework. You might save yourself some cash but most of the time the agent is the better negotiator.

 

[Krek.]

Ps. In some markets you have to use licenced real estate agents, for example France.

I beg to disagree. In France 50% of all sales are directly between old and new owner. 45% pass through licensed real estate agents and in 5% of the sales it is the notary public that does the negociation (all sales pass through the notary, but he only does the actual selling for 5%).
The agency fee in France is between 4% and 10%, depending on the price of the real estate. 6% is the most usual fee.
If you want to skip the middle man, look at sites like 'Particulier à Particulier' (pap) and 'Entreparticuliers. Immonot is the Real Estate sales site of the notaries. A multilingual site is zorroimmo. This is my first reply, so please look up the url's yourself.