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Slovakia: An Overseas Property Investment Story of the Future

Jan 27

Posted by admin in Real Estate

Overseas property investors looking for the next emerging market should investigate Slovakia. The world bank in 2005 stated that Slovakia had the fastest transforming business economy and the trend is set to continue.

About Slovakia

Slovakia landlocked republic in Central Europe bounded by the Czech Republic, Poland, Ukraine, Hungary, and by Austria. Slovakia is modern European country with a deep rural tradition. Geographically, it is primarily a mountainous country with numerous winter activities. Bratislava is its capital and largest city.

Buying property in Slovakia an overseas property opportunity.

Overseas property investors looking for the next emerging market should investigate Slovakia. The world bank in 2005 stated that Slovakia had the fastest transforming business economy and the trend is set to continue.

Overseas buyers welcome in Slovakia

Slovakia lifted all restrictions on property acquisition on 1 May 2004. All foreign nationals can acquire real estate or land in Slovakia directly, without having to set up a company and have a local legal signatory. The minimum amount of equity required is generally 30% of the purchase price. Alternatively, you can use the equity in your existing property or simply arrange a loan at home.

Where to buy in Slovakia

Bratislava, Slovakia’s capital and largest city, is one of the rare places offering you exceptional capital growth potential AND increase in rental income at the same time. Quaint and jovial with a surprisingly rich cultural life, Bratislava is a capital city without the usual congestion. The High Tatras are a magnificent range of European mountains (only second to the Alps in elevation) dotted with villages with deep peasant traditions.

How to buy property in Slovakia.

Once you found your Slovakian property be prepared to part with a deposit of 10%. This is required by the buyer to start the buying process. A pre purchase agreement is signed by both parties. A surveyor will complete a report and provide this to the seller’s solicitor who will then prepare a contract of sale. It is important to have any agreement signed translated. The title deeds are then transferred to you after a period of about 4 weeks. Agents? fees are between 1.5 and 3 percent.

Slovakian Climate

Slovakia has a continental climate, with four distinct seasons. Winters are typically cold and dry, while summers tend to be hot and humid. The average daily temperature range in Bratislava is -3? to 2? C (27? to 36? F) in January and 16? to 26? C (61? to 79? F) in July; temperatures tend to be cooler in the mountains. Bratislava receives an average of about 650 mm (about 26 in) of precipitation annually. In areas of high altitude, snow is often present for as many as 130 days each year.

Travelling to Slovakia

Depending on the country you come from and the reason you come to Slovakia for, you may need an ID card, a passport or even a visa in order to enter Slovakia.

Citizens of the European Union should be able to travel with their ID card only. Contact embassy of the Slovak Republic in your country for more information.

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How To Locate Waterfront Property Rentals

Dec 30

Posted by admin in Real Estate

Many people prefer to take their vacations somewhere on or near water. These days, waterfront property is getting so popular it is sometimes difficult to locate rentals, particularly in the most desirable locations. However, with just a little bit of work, you’ll find multiple options for rentals in your favorite location. Before you know it, you’ll soon be vacationing in a wonderful waterfront property.

The traditional, time-honored way to search for rentals has been to visit the area where you want to vacation, look around, and find a home that interests you. In many resort towns, rentals have signs out front with the owner or property manager’s name and phone number displayed. In some waterfront resort destination areas, these signs may be very discretely placed, due to concerns about appearance, so you may have to search a little. Also, the owners of rentals may only put the sign out when they have vacancies in their schedule. The disadvantage of this method is that you probably will not be able to see beyond the outside of the potential rentals. This means you will not be privy to information about number of bedrooms and what amenities, such as cable and wireless internet connections, that the home might feature. You’ll need to call the owner or property manager to gather this information, and if it turns out not to be what you need, you’ll have to repeat the process all over again.

Another way to do an on-site search is to visit the local real estate agent’s office or a property management firm. Often these businesses will be on or near the town’s main street. Usually these firms will display pictures and information about their rentals prominently-on windows or bulletin boards inside. Drop on in-the company’s employees will be delighted to show you their rentals. They will probably also have photos of the interior of all their rentals, and the statistics on how many each place sleeps, and what the costs are. With an on-location visit to a waterfront property management firm, you can view several rentals at once and make your decision on the spot.

But what if your vacation destination is located far from where you live or you simply don’t have time for an in-person visit? That’s when the internet comes in handy. Most property management firms maintain a strong presence on the internet. It’s nearly as useful as visiting in person, because businesses will post multiple photos of their rentals and all the vital statistics. An added bonus is that many of these firms also will have extensive databases about the resort locations they do business in. All the amenities of the location will be listed, giving you a great idea of what to expect with your vacation. Many online businesses that deal in resort rentals allow you to book online, saving hours of time in phone calls and personal visits. Then while on vacation you can decide how your waterfront property stacks up to others around, and decide which rentals you might want to reserve for the next trip.

Once you know where to look, searching for waterfront property rentals can actually be fun. After all, part of the pleasure of a vacation is the anticipation of it, and locating your next rental will get you very excited about your trip.

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Why You Need A Real Estate Agent?

Jun 23

Posted by admin in Real Estate

Do you want to buy or sell your real estate or storage unit? Then you must contact an agency that deals with real estate management. When you contact an agency, you give them the authority to represent you while negotiating with the third party interested in your asset. Thus, you build a legal bond between you and your agent. Why are agencies the first choice during buying or selling of real estate? Why not salespeople? This is because agents know everything about the legalities of asset transactions. They are well-versed with the tricks of the trade. They are known for providing sound advice on property management. They even have the power to promise the third party on your behalf. However, if an agent involves in any illegal act, you’re liable.

As per the state laws, you need to undergo a verbal agreement between you and your agency. You must know that your agency can, in no case, sue you, if you fail to fulfill the agreement conditions. However, your agency is mandated by law to perform all duties, even if they are not detailed in the agreement. The agency law also marks some duties. When you hire an agent, you become bound by his or her actions, under the agent laws. You must have all the information that your agency has. You are also equally responsible for whatever your agent does, even if it may be out of the law.

Therefore, the smart thing to do before getting involved in any real estate transaction is to check the credentials of your agent. You’ll be rest assured that your trust won’t be betrayed. Have you heard of universal agents? They are people with the highest power in their hands. They are experts in dealing with all aspects of real estate management as well as real estate transactions. They can even sign contracts on their clients’ behalf. They are authorized to perform specialized duties associated with property management.

It’s for you to decide what kind of agent you want. However, you must refrain from buying or selling assets without the guidance of an agency, unless you’re a pro in this business. The agents boast of expertise and experience in this field. They know how to talk with the third party to make them interested in your deal. They can render you a profitable deal.

Handling real estate is not child’s play. You can suffer huge losses if you make a wrong move or miss a detail. You must also be familiar with the market scenario. Besides, you should be aware of what tricks the third party can play for their own interests. So, if you’re not confident of handling this venture alone, stop. Hire an agency and then start trading in assets.

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How to Become a Real Estate Agent in Canada

Feb 25

Posted by admin in Finance, Real Estate

To become a real estate agent, one must be at least eighteen years of age and have a Canadian High School Diploma or equivalent, and speak English. Each province in Canada is responsible for licensing real estate representatives in that province. However, there is a three-step process common to most, with a Board exam unique to each province. British Columbia will not grant a license to anyone with summary convictions until two years after restitution is made. Quebec will not issue a license to someone with a criminal offense in the prior five years. Check with your province of residence for specific local requirements. They can be found in most cases under the provincial Real Estate Commission or Council.

The first step is to complete the requirements for the Initial License. This must be completed within eighteen months. The program is available by correspondence or on-line. Phase one covers the benefits and limitations of a career in real estate, an outline of the requirements for registration as a real estate representative, an overview of the mathematic skills needed, and an indication of the specialties and career options. Phase two introduces the technical aspects of the profession and covers the statutory laws, rules and regulations governing transactions in real estate. Phase three gives a choice of two aspects of real estate; Residential and Industrial Commercial Investment (ICI).

The residential course is completed during eighty hours of classroom time. Practical aspects of real estate are presented through workshops covering the topics of acquiring listings, marketing, qualifying buyers, preparing and presenting offers. The ICI course requires eighty hours of classroom time. A wide variety of workshops cover topics including office, retail, industrial, multi-unit and vacant land practices.

The next step in becoming licensed is to complete a two-year articling period with a licensed broker. During these two years, one must complete three additional courses. Real Property Law is a mandatory course, with optional courses including Principals of Appraisal, Principals of Mortgage Finance, Principals of Property Management, or Real Estate Investment Analysis. There is also a mandatory Phase 3 course. One may renew a license after completing the articling stage and completing these courses.

To maintain a license, one must complete twenty-four hours of Mandatory Continuing Education (MCE) every two years. Other opportunities to advance one’s career are available in Continuing Education Units (CEU). CEU courses offered include: Agency courses, Practical Approach to Agency, Agency for Profit, Agency for Practice, Dealing with Purchaser Agency in the Agreement of Purchase and Sale, Disclosure of the Real Estate Profession, The Broker’s Toolkit: Standards and Compliance, Conflict Resolution Skills, Valuing Diversity; Increase Profits with Multi-cultural Clients, Housing Technology, and Technology for Profit.

If one wishes to become designated in a specialty, the Real Estate Institute of Canada offers several professional certification programs. These include certifications for property management, condominium management, appraisal specialist, and land planning and development.

Real Estate is a large and varied profession with many opportunities for specialization and advancement.

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