How does remote real estate purchasing abroad work during the pandemic?

The relevance of remote real estate purchases

In a situation where borders remain closed and restrictions are in place, the desire for remote property purchases is becoming increasingly relevant. The pandemic continues to create obstacles for international travel, and in the absence of a residence permit or valid reasons for entry, such as medical treatment, many countries may simply not allow you to enter their territory.

Opportunities for purchasing abroad

Nevertheless, even in such circumstances, you have the opportunity to purchase real estate abroad. Many countries offer the possibility of conducting transactions without the physical presence of buyers. This format is more suitable for those looking for investments or temporary housing, rather than for those intending to settle in a new home on a permanent basis, as in the latter case, personal assessment and impressions of the property are of utmost importance.

Experience of online shopping

You will not be a pioneer in this field: in recent years, there have been numerous successful remote purchases recorded, both before the pandemic and during its peak. An example is the purchase of property in Bulgaria even during the spread of COVID-19. It is also worth noting that the real estate market in Turkey, which was not very interested in remote transactions before 2020, has changed, and sellers and buyers have had to adapt to new conditions and optimize the transaction process.

The process of a remote transaction

Today, many countries are opening up opportunities for foreigners to purchase real estate remotely. Although each country has its unique aspects, the general principle of organizing remote transactions has a lot in common.

First stage: choosing real estate

The first stage of this process involves selecting a property. You can do this on your own by exploring real estateagency websites and specialized platforms, or by seeking support from professional consultants. It would be a good idea to submit a request to receive offers from private realtors, agencies, or developers.

Obtaining additional information

Once you have identified potential real estate options, the agent or owner (if the transaction is conducted without intermediaries) can provide you with additional photos and videos. Online viewings also become possible, allowing you to get a clearer picture of the current condition of the property. It is important to obtain not only professional shots but also more natural images that reflect the details of the interior and the surrounding infrastructure.

Final decision

When you make your final choice, you will need to send personal information to the agent to arrange the booking contract. This document will then be sent to you for signature via email. This approach helps to reduce risks and alleviate the inconveniences associated with the need to travel during the ongoing pandemic.

Conclusion

Regardless of the changing situation, for many people, the opportunity to invest in foreignreal estate remains quite appealing.

Real estate down payment

During the process of purchasing real estate, the first step involves a mandatory down payment, the amount of which can vary depending on the country and the specific agency. Typically, this payment ranges from 5% to 20% of the total property price or is a fixed amount that fluctuates between 1,000 and 5,000 euros.

After this step, the property is temporarily taken off the market, and preparations for closing the deal begin.

Issuance of a power of attorney

The next important step is to prepare a power of attorney. At this stage, the buyer needs to prepare a power of attorney that will be notarized. This document must be valid in the country where the purchase is taking place and can be designated for either a real estate agent or an independent lawyer.

A power of attorney can be drafted in a free form or according to standard templates, depending on the requirements of local legislation. It is important that the document clearly lists all the powers and functions that the authorized representative can perform on behalf of the client. For example, this may involve registering a tax number or transferring property rights. The power of attorney also includes information about the specific property and its value.

Sending a power of attorney

After the power of attorney is signed, copies are sent by express mail to both the authorized person and the seller or construction company. In some cases, it is sufficient to simply forward a scanned document via email; however, in certain countries, such as Cyprus, it is required to provide the original power of attorney after its validity period ends in quarantine.

Registration of legal entities

It should be noted that often real estate, especially investment properties, is registered under legal entities established in the country where the purchase is made. The process of creating such companies can also be carried out by proxy, and more detailed information about this procedure can be found separately, for example, in Germany.

Main contract

The next step is the exchange of contracts. The main contract for the transaction is a document that is prepared based on the information previously gathered about the client and the property. It will include all necessary attachments and is usually drafted in two languages: the buyer's language and the language of the country where the property is located.

Signing and returning the document

The contract is sent to the buyer for signature via express mail and, in some cases, by email. After the buyer signs the documents, they are returned to the agent or lawyer for the seller or developer's signature. This agreement includes sections with banking details for financial transfers, as well as a payment schedule, which is especially relevant if installment payments are planned.

Current offers in the market

Currently, there is an attractive offer available — an apartment priced at €115,000, located in the picturesque town of Utjeha in Montenegro. The total area of this property is 70 m², and purchasing it also provides the opportunity to obtain a residence permit.

This offer includes an apartment in a multi-family building located in a charming area of Montenegro, known for its natural beauty and comfortable living conditions.

Spacious apartment for sale

An excellent opportunity has emerged in the real estate market to purchase a spacious apartment designed with all the current standards in mind. This apartment features two cozy bedrooms, a living area with a kitchen space, as well as a modern bathroom.

Only high-quality materials have been used in the finishing, giving the property an elegant and stylish appearance. All utilities, including water supply, sewage, electricity, high-speed internet, and air conditioning systems, are fully operational. There is also a convenient parking space, and a sauna is available for relaxing leisure time.

This apartment is located just 30 meters from the sea, and the balcony offers a stunning view of the water's surface.

Proposal from the company "Adriatic Sea Expert"

The real estate company "Adriatic Sea Expert" offers this apartment in the picturesque city of Fethiye, Turkey, at a price150,000 eurosThe total area of the apartment is50 square meters...which makes it suitable for both permanent residents and temporary vacationers. When purchasing this property, the buyer also receives...residence permit.

Other offers on the market

When getting acquainted with other offers, you might want to check out the agency "RestProperty," which offers magnificent apartments in the famous ski resort of Bansko, Bulgaria.

• Price:160,000 euros
• Area:196 square meters
• Number of bedrooms:three
• Number of bathrooms:two

Don't miss the chance to attend the online showing, as the deal can be conducted remotely without any additional fees.

Agency "Unique Properties Bansko"

The agency "Unique Properties Bansko" also offers for sale a spacious two-bedroom apartment that is fully furnished and ready for living. The apartment has its own sauna, steam room, and a bathroom with a jacuzzi.

It is located on the first floor and includes a hallway, a bright spacious kitchen, and a dining area. The price of such a property is49,000 euros.

Cottage in Kemi, Finland

Additionally, there is an option for a remote transaction to purchase a cottage in Kemi, Finland. This property was built in 1968, requires minor repairs, and is priced at just49,000 eurosThe cottage is located on a plot of land with an area of2000 square meters, which adjoins the seashore, and provides the opportunity for construction with the right to build a total area of120 square meters.

Options in Alanya, Turkey

In Alanya, there are also various real estate options available. One of them is an apartment with an area of53 square meters, the cost of which is120,000 eurosIt is located just in1500 meters from the beachin the picturesque area of Pallar.

This unique complex is famous for its extensive sandy and pebble beaches, where you can enjoy the clear waters without sharp tides.

New apartments on the island of Phuket, Thailand

The new apartments on the exotic island of Phuket, Thailand, deserve special attention.

• Area:37 square meters
• Price:124,450 euros
• Amenities: shared pool and fitness center
• 24/7 security and finishing with high-quality materials

There is Italian furniture and a modern interior, which creates additional comfort.

Apartment in Alanya for family vacation

For those who dream of spending time by the sea, there is a great alternative – an apartment in Alanya with an area of100 square metersfor160,000 eurosIt is located in the cozy residential complex Fortuna Residence, just a800 meters from the sea.

The apartment features two bedrooms, two bathrooms, and two balconies. This is the perfect solution for family vacations or permanent living, where comfort and proximity to the sea are combined in one offering.

Attractive options for investing in real estate

In the segment of the modern real estate market, one can find numerous attractive offers for those looking to invest their funds. For example, in Chonburi, Thailand, a 54 m² apartment is being sold for €191,324, offered by Maximus Invest.

Unique apartments for sale

In our dynamic real estate world, we are pleased to present you with the opportunity to purchase unique apartments for sale in various countries, including Turkey and Bulgaria. For example, on the fifth floor of one of our buildings, you will find cozy terraces measuring 110.8 and 114 square meters, as well as two parking spaces, which will create comfortable conditions for your relaxation.

Offers in Bodrum

In Bodrum, Turkey, we are offering an apartment for134,036 eurosThis is a property with a total area of 63 m2, which includes two bedrooms and one bathroom. This is just one example demonstrating our ability to find attractive solutions for the diverse needs of our buyers.

About the company

Our company has over ten years of experience in the real estate market and has thousands of satisfied clients. Our team consists of40 highly qualified experts...ready to assist you in Trabzon, as well as in Istanbul, Ankara, and Izmir. We operate efficiently in 34 provinces, offering a wide range of options for investing in housing.

Apartments in Ankara

For example, in Ankara, you can find apartments at various prices.172,000 eurosThe total area of these apartments is130 square metersIt includes four rooms, including three bedrooms. The possibility of obtaining a residence permit upon purchase and online viewings make the process as convenient as possible for clients. These apartments are located in the Incek area, which is surrounded by medical facilities, educational institutions, and beautiful nature.

Advantages of the Indjek area:

• Modern residential projects
• Excellent transportation infrastructure
• Comfortable living conditions

Apartments in Sozopol

In addition, we offer apartments in Bulgarian Sozopol at a price95,000 eurosThe area of these apartments is63 m²and the building has already been put into operation. The maintenance cost is1000 euros per year...and the possibility of an initial payment in...2000 eurosis an additional advantage.

Apartment in Saint Vlas

It is also worth paying attention to a two-room apartment in Sveti Vlas, priced at90,000 eurosThe total area of this housing is75 square metersThe "Star Dreams" complex offers its residents all the necessary amenities, including two bathrooms and two balconies. Its proximity to the sea (just...200 metersThe presence of Act 16 is a significant advantage for buyers.

Sunny Beach in Bulgaria

On the southern coast of Bulgaria, in Sunny Beach, you can pay attention to a studio for...41,500 euros, with a total area of48 square metersThis cozy property is located just a700 meters from the beachand equipped with everything needed for comfortable living: an elevator and central heating.

Apartments in Alanya

Moreover, we must not forget about apartments in Turkey. For example, in Alanya, there is an apartment priced at189,500 euros, with a total area of125 square meters, a total of500 meters from the seaThis is a great solution for those who want to live near the beach and enjoy all the delights of coastal life.

Important details of purchasing real estate

When purchasing real estate, it's important to pay attention to every detail. In the case of investments in the primary market, funds are directed straight to the developer, while in the secondary market, the amount is first transferred to a notary or lawyer, and only after all documents are verified does it go to the seller. This method ensures safety and confidence at every stage of the transaction.

We are confident in our proposals and experience, and we are ready to invest in your future by creating comfortable living and leisure conditions.

Conclusion

In conclusion, it is worth emphasizing that remote real estate purchases are becoming increasingly relevant in the context of the ongoing pandemic and restrictions on international travel. The ability to close deals without the need for physical presence opens up vast opportunities for both investors and those looking for the perfect vacation spot.

I have personally found that the process of remote purchasing can be quite simple and convenient if you follow the steps mentioned above and trust the professionals. Despite many nuances, each country has its own rules and procedures, and it's important to be prepared for the fact that bureaucracy can vary in different regions.

Why should remote purchases be considered?

• Enhancing capabilities:Remote transactions open new horizons for investors and buyers looking to purchase real estate abroad.
• Convenience:The process is becoming simpler and without unnecessary trips.
• Access to the international market:The opportunity to review real estate properties that would be difficult to assess during an in-person visit.

Thus, for those who have decided to buy property abroad, remote transactions open up new opportunities. I strongly recommend conducting thorough market research, engaging reliable professionals, and carefully considering all offers before making a decision. And although personal impressions of the property still play an important role, remote transactions are becoming increasingly common, and every day we can observe how this practice is evolving and becoming the standard in the real estate world.

Personal experience

I made my first real estate purchase abroad by taking advantage of such opportunities, and while writing this article, I hope that my experience will be useful to you. Perhaps your next property will become the perfect vacation spot or a successful investment project. Don't miss the chance to leverage modern technologies and business practices to discover the world of remote acquisitions!