This preparation, also known as due diligence, can largely take place online and on the Internet. But you also need to view and analyze the offline, physical world in detail. Below are some tips to get started with the analysis of a real estate market at home or abroad. Choosing Bangsar and maybe a Bangsar condo for sale would be perfect in this case.
Online Due Diligence Tips
A search engine such as Google is the perfect starting place. Type-in some longer keywords. It can be a question instead of a word. Google will automatically display the best answers on the first page.
- Visit the websites of the municipality, city, local trade association, Chamber of Commerce, and so on.
All interesting things to take a look online:
Surf to various websites of local real estate agents, notaries and project developers. View the offer, the prices, the information in the blog / news section, and so on.
Onsite Due Diligence Tips – Real Estate Investment Market
You can already do a lot of preparatory work online. But making decisions solely on the basis of online due diligence is very risky and not advisable. Buying property abroad requires a considerable amount of capital. It is therefore of paramount importance not to leave anything to chance. So be sure to visit the site. Consider the online survey as an initial screening procedure. If the real estate market in question comes out well, you can go one step further and go on site for a thorough inspection.
Some tips for your on-site due diligence:
Local newspapers and local magazines usually contain very interesting information about spatial planning, local politics, the prices of the local real estate market, the environment, the climate, trade and catering, and so on.
Look at the local television channel (often there are sections on real estate, business and jobs). Also visit the website of such a local television channel.
Visit the town hall and / or town hall. Talk to the appropriate real estate and planning office. Try to find out the sensitivities and pitfalls because every country is different.
Visit the local shopping streets and restaurants. Soak up the atmosphere and visit the tourist office (you can often obtain interesting statistics there). Contact a local notary or lawyer. A local expert is certainly worth some money. Seeking professional advice from a local professional is highly recommended. Have a chat with the local police officer and local residents to find out about street crime, theft, vandalism, noise from loitering youth, farmers or barking dogs, and so on.
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