Are you buying an apartment by the sea?
These are the things you must know before deciding on a location and shopping!
We are a company oriented mainly towards buyers of real estate on the island of Krk, and therefore we want to clarify many dilemmas surrounding the realization of the purchase of real estate, and we find our footing in the positive legal regulations that regulate this matter.
First of all, we note that despite the great effort and engagement of agents and consultants, the final decision on the purchase is made by the buyer.
Should you search for real estate yourself or hire an agent?
The most fun and profitable thing to do is search for real estate on your own. But…
Needless to say, the first step in buying anything is the Internet.
However, organization is much more important than Googling itself.
In order to navigate the pile of information, write down how much time you intend to spend searching, how much money you are willing to spend, and what is most important to you.
Write down all the questions that interest you, as well as all the contacts and ads of those properties that caught your eye and you want to visit them.
Friends, acquaintances, work colleagues, relatives and others can be a useful source of information.
What obstacles did they encounter and what should you pay special attention to when buying.
By no means exclude agencies and real estate agents. Why? Very simple.
These are people who have vast experience in sales and know all those little things that ordinary “mortals” don’t know.
An agency is the only way not to deal with all those things that drain a lot of your energy.
On that way, you need to avoid all the traps that will appear, and that depends on several elements.
Although today there are countless agencies that publish real estate ads on websites, it is still good to think about everything, because there are a number of key elements that need to be clarified before starting the implementation.
More than fifty real estate agencies are active in the Primorje-Gorski Kotar County, so it is difficult for interested buyers to find and choose not only real estate, but also an agency that will find them what they really want and want.
Since properties by the sea are most often used for vacations, this is precisely what leads us to a different approach and relationship in this specific business.
The basic elements for choosing a property are:
– location,
– square footage and quality
– price.
Only when everything is arranged, including emotions, does your idea come to fruition.
Which element will prevail depends on the buyer himself, and least of all on the seller or agent.
The agent’s negotiation skills may or may not help.
Since properties by the sea are most often used for vacations, this is precisely what leads us to a different approach and relationship in this specific business.
Then it is most profitable to find an agency that will do it on behalf of the customer.
Our agent or consultant can do all this professionally with realistic costs and to the satisfaction of all parties at an acceptable price.
Which means a good location
Regardless of whether you have decided to buy an apartment in a larger town by the sea, or in the interior of the island, there are some laws that determine the quality of the location.
The most important elements according to which the location is evaluated are: traffic connection, communal infrastructure and proximity to services.
When it comes to traffic connections, quick and easy access to the main roads is important, preferably from several directions.
A good connection with public transport is always an advantage.
Also, it is important that the property has a secured parking space.
Access to communal infrastructure (electricity, water, telephone, gas) is self-evident, but the quality of this infrastructure must be checked.
For example, when it comes to telecommunications, you should check whether high-speed internet is available.
When it comes to energy sources, it is good to have the possibility of using different energy sources.
Do not ignore the other characteristics of the microlocation – location of the building, neighborhood, noise level, etc.
Check which way your windows face.
It would be best if the apartment was oriented on two opposite sides of the world in order to make maximum use of the natural course of the sun.
Apartments oriented exclusively to the north should be avoided due to the lack of sunlight and heat.
In order to get as much useful information as possible, be sure to get to know the neighbors from whom you can learn about the habits of the tenants, but also get useful information about the property and the neighborhood in which you will live.
Do not forget that the location affects the value of the property in the long run.
Therefore, it is always worth paying more for the same square footage in a better location, because well-located apartments and houses maintain their price even in the most difficult times and can be sold quickly and easily.
Square footage and quality
The relationship between price and square footage is certainly important, but it should not be decisive in the decision. That’s why you should pay attention not only to the number of square meters, but also to the functionality – the size of the corridor, the layout of the rooms, the possibility of partitioning or demolishing the existing walls.
Before making a purchase decision, you should carefully check the condition of the property. To be sure, it is not a bad idea to bring along a construction expert who will inspect the walls, installations and sanitary ware in detail.
High-quality performance of thermal and sound insulation is particularly important. Poor joinery – windows and doors, faulty air conditioning vents, thin internal and poorly protected external walls increase heating costs. Be sure to check the heating bills and assess whether any major interventions are needed on the thermal insulation.
Price
There are no fixed prices on the real estate market, so be wise and never agree to the first price asked by the seller. When negotiating, be cool and don’t accidentally show enthusiasm for the offered property, but rather point out the weaknesses.
Be aware that in the market, the relationship of supply and demand is on your side.
Experts estimate that the realized selling prices are on average ten percent lower than the advertised prices. Take that as an initial parameter for negotiations.
If you manage to lower the price by 10 percent, you can save enough money to buy furniture and furnish your apartment or house.
Pre-contract, deposit and contract
If there are reasons why the purchase cannot be completed in a short period of time, a preliminary contract is first concluded so that the buyer and seller confirm the agreement. The most common reason for postponing a transaction is waiting for a loan to be approved or obtaining a document.
In the pre-contract, which must be certified by a notary public, the land registry data about the real estate (cadastral municipality, plot number and land registry entry number in which the real estate is registered), description of the real estate (for an apartment, these are the address, floor, apartment number, room description from which includes the total area), price, date of conclusion of the final contract and payment of the down payment for the property.
The deposit serves as a guarantee of the agreement as a cancellation fee – if the buyer cancels, the seller keeps the deposit, and if the seller cancels, he must pay the buyer double the amount of the deposit.
The usual amount is ten percent of the value of the property.
After all the conditions for the realization of the transaction have been met, a sales contract is concluded.
In addition to everything stated in the pre-contract, the contract includes the date of handing over the property to the buyer, as well as the seller’s guarantee that there are no rights of third parties on the property.
It is recommended that you entrust the drafting of the (pre)contract to a lawyer to make sure that you are well protected as a buyer.
