2008 was the year of the economic crisis, crisis that hits every economic sectors, even real estate sector. Prices are too high to buy a house, supply and demand don’t match up as they used to do before.
It is sure that the real estate investment is always very good, a good resource. Although the brick crisis, the number of real estate agencies keeps increasing, there are a lot of them in every town. Real estate market today is not easy to deal with. Let’s see together how it works, how it is managed and what you need to do to invest in it. If you want to buy a house and to speed the advertisements, my advice is to go and ask for help in one of your city’s real estate agencies. The employee will keep note of all the details of your research. If he would have already something suitable to propose, according to the requested characteristics, you will go immediately to see the building. If this is up to your expectations, now it will start the estate management. These are first of all the signature of the agreement and the consequent payment of the 10% deposit. My advice is to read all the clauses included on the agreement, to avoid bad surprises later. But if you have a house or a building to sell, if you also go to a real estate agency, you will sign an agreement with included all the details regarding the building on sale. Pay attention to the exclusivity clause, where you take note that only that specific agency has the “power” to suggest to other clients your two-room apartment or your building on sale. If supply and demand match up, the agency will fix an appointment with both the parties and then there are the proposal, the acceptance, compromise and the final appointment on the day of the end of the deed.
It is obviously clear that real estate agency will withhold a variable commission from 1% to 3% of the total value of the building. This sum of money is paid by both the buyer and the seller. Another chance to get into the real estate market is the one of investment. Do you have an old apartment, located in a good area and maybe in need of refurbishing? You just have to agree on the selling price with your estate agent and then consider if this can be a useful investment. The same is applicable for small estate, such as box and garage. But who gains the most from real estate investments? We have already talked about crisis before, a crisis that will last still several months, but if you have put some money aside and don’t know how to invest it…well. This investment is the best alternative to a bank account. On the contrary, if you are already the owner of an apartment, why should you get rid of it? One of the main reason is the need of money to face the actual economic difficulties. Today the two-room apartments renting market is also growing very slowly or not growing at all, in some towns agencies have already started using sales to attract clients.
A 5%-10% discount on the price of the estate could attract a potential buyer. We also need to point out that the total price could be reduced presenting the so-called “buying proposal”. If this proposal is accepted, the transaction will go on presenting the whole documentation, until the final act which is the deed of sale, an exclusive notary’s duty.
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