About relocation in the UAE and the purchase of real estate

There are many rizonov, pushing IT people to acquire overseas property. That's just how to do this in practice, we all know to the insult a little. Among the potential buyers of foreign real estate is still circulating many myths, sometimes extremely harmful and destructive, which we talked with the head of real estate agency Madinat Jumeirah Living .

Myth One: “They Don't Like Us”

One often hears that the attitude towards Russians abroad is, at best, hidden caution, and at worst, outright hostility. The following, no less speculative, is derived from this message: real estate buyers from Russia (more commonly from CIS countries) are particularly picky abroad, trying to guess either the emissary of the “Russian mafia” or the agent for laundering unearned income in each of them. Conclusion: Russian, buying real estate abroad, are presented with special, moderately stringent requirements.
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We admit that the behavior of the “masters of life” from Russia in the early nineties did not fit well with foreigners ’perceptions of propriety. And yet this page has already been turned. The real estate market experts are unanimous: Russians abroad are treated just like any other non-residents. And the requirements for them impose the most that neither is standard. Russians are friendly, as well as potential buyers from any country. To talk about a "special attitude" to us in the world is completely unwise.

Myth Two: “Everything is easier in developed countries”

It is believed that in more developed, long-established markets (primarily in Western Europe), it is much easier for a non-resident to purchase real estate, while in emerging markets it is likely to result in tedious bureaucratic red tape and unexpected problems.

In fact, everything is exactly the opposite. In the existing European markets, the buyer is waiting for a lot more obstacles than in developing countries. The logic is obvious: the countries where the real estate market has just started to form, try to attract as many new buyers as possible, including non-residents.

As a result, the authorities of a number of states even abolish the property tax, reduce the level of fees, and turn the procedure of buying housing out of burdensome visits to the authorities almost into a pleasant recreational tour.

The more “European” the country is, the more cautious it is with respect to property buyers from abroad. As a result, the most developed and stable countries are at the same time the most "cautious". This informal rating is headed by Austria, France and Spain, while Turkey, Bulgaria and Montenegro are at the bottom of the list, where not only will the arrival of a buyer from abroad be glad, but they will also “forget” to ask where the money comes from.

The third myth: “Realtors know everything”

It is generally believed that if you are really excited about the idea of ​​buying property abroad and have the necessary amount, then it’s enough to contact any more or less reliable real estate company, where you will be happy to tell in detail which countries are most promising now and why it is profitable to buy housing there.

But do not be fooled. Most companies working with foreign real estate specializes in one or two specific countries. Therefore, if you contact them without conducting prior independent market research (analysis of the profile and business press, offers on the Internet, telephone consultations with brokers, etc.), then most likely, you will immediately begin to agitate to buy property in or a specific country.

Keep in mind, realtors have learned to demonstrate their professionalism a long time ago: you will be shown such spectacular graphics, so disturbing the imagination of numbers that you will surely forget to ask where they came from. In order not to fall into the trap and not to buy a cat in a bag, you will have to independently study the market, comparing different sources. Better yet, just ride around the countries of interest. Sometimes "on the ground" everything looks very different than in glossy advertising.

There are companies that offer advice on choosing the most optimal country for investments. In practice, this service is practically not in demand, because today, buyers rarely come just with a suitcase of money and ask the consultant to attach them. The vast majority of potential buyers of overseas real estate already know in which country they will invest their savings.

Myth Four: "Local realtors are better than ours."

There is an opinion that buying property abroad is better through a local real estate company, and not through a Russian one. Say, in Russia all sellers of real estate are swindlers, and in other countries “there is no such thing”. In addition, many of our compatriots are confident that if you turn to a Russian company, you will have to pay a commission twice - here and there.

However, there is no fundamental difference. Russian realtors, as a rule, work in conjunction with foreign partners, and the standard commission is divided among themselves depending on the amount of work done. In this case, the commission is often charged at all from the seller. Some advantage of resident agents can be considered their deeper knowledge of the national market. But after all, the search for such a realtor will have to be carried out, for sure, at your own peril and risk, and this is the basis for the occurrence of unpleasant misunderstandings.

For example, in Montenegro, sales contracts are drawn up in Serbian, and translation services are often squeaked. In addition, the certificate of ownership is printed on paper without watermarks and sealed with a black stamp, which creates problems in identifying the authenticity of documents, and lawyers are not responsible for the cleanliness of the transaction. In such a situation it is difficult to get rid of the idea that they are trying to deceive you.

Many buyers seek to act directly in the country where they are going to buy real estate, for fear that Russia will have to pay a commission twice. Nothing like this! The client will be immediately informed of the final amount of the payment, but in addition he will receive a reliable attorney who will control the entire transaction process, and in which case he will intervene and help to solve any problems without serious consequences.

In addition, in the case of working with a Russian agency, the client receives all the information in an adapted version that is more convenient for understanding, and also in Russian.

Fifth Myth: "You can buy by pictures"

It is believed that if the buyer does not have time to travel, then you can choose real estate abroad from photographs (so far some Russian furniture factories are trying to sell sofas and chairs in underground passages in this way).

Realtors provide a photo of the objects from which the client chooses the most suitable option, studies the layout, gets additional types of interior and exterior, after which the documents are sent by mail or through an attorney agent who organizes the transaction, so the buyer’s task is “only” to transfer money in a timely manner .

Still, it's better to rely on your eyes. So you need to make a visit to the country and get acquainted with the purchased object personally. However, all this does not mean that you have to sit in the country of your dreams until the end of the transaction. Once the object is selected, the buyer can leave a power of attorney for his agent, who will complete all the formalities. You will need to arrive only when all the documents are ready and will only need to familiarize themselves with them, sign and pay for the purchase.

Attention! Acquiring primary real estate in the early stages of construction, in most countries, money can be transferred not immediately, but gradually: the first part - when the house began to rise above the zero mark, the second - when the roof appeared, the third - with the beginning of the interior decoration. This is a much safer option than paying the entire amount at once, and then discover that no one has ever begun to build your house.

Myth sixth: "Overseas high taxes"

It is believed that the maintenance of real estate abroad will be very expensive due to high taxes and utility bills, so buying a home abroad is for the rich.

In fact, taxes are high only in some countries, and the buyer has ways to minimize them almost legally. How to do it? Yes, exactly the same as it is done in Russia: the bill of sale does not indicate the total price of the apartment, but only a part of it (we have the BTI estimate). It is from this amount that one-time tax is paid on the purchase of real estate and annual payments. On the head for such things, of course, they will not caress, but nobody will be particularly fooled, except perhaps for the most stiff countries.

This form of reducing the tax burden is quite safe - everyone, including local, is doing it. And for the insurance, an agreement is still concluded between the parties, in which the real value of the living space and the fact of the transfer of money are recorded.

Myths - the oldest form of creativity. But it is hardly worth relying on such dubious sources, intending to spend a hefty amount of money. Let's be realistic.

Or maybe not to go to real estate agencies at all, but simply to give up in the country of your dreams and independently find a suitable option? Why not. But the risks of the buyer in this case will increase markedly. With all the reservations, contacting the agency, the buyer still receives fairly complete information about the legislation of the country in which he plans to buy real estate, about the amount of all taxes, he is provided with the services of an interpreter, a lawyer, a consultant.

In the case of independent communication with the seller in the country, the language and subtleties of the legislation of which you are not thoroughly known, it is easy to become a victim of fraudsters or simply an unsuccessful combination of circumstances.

Do you remember, admiring a cozy Thai house, that real estate can be mortgaged or kept under arrest? About this there are records in registration documents, but in the language of the host country. So, without the services of a person who can read, for example, in Thai, it is better not to conduct such transactions.

Legal subtleties when buying property abroad - the mass. The transaction must always be made competently, in compliance with the laws of the country where the property is acquired. And this can help only experienced, good professionals.