We are with you every step of the investment cycle:
Where to invest and which property to buy?
We provide the following key information to assist you with your initial investment decision:
- Country profiles including all the the latest economic and political information sourced only from the most highly respected institutions.
- Detailed market information and analysis based upon official statistics.
- Years of experience, in depth local knowledge and the numerous contacts of our in-country staff.
- Inspection visits with no obligation. Our in-country staff will not only show you the latest developments and properties, but will explain how they fit into the context of the city.
- Comprehensive, accurate and up-to date information on properties. In emerging markets decent properties rarely remain on the market long so we realise how important it is for you to have all the information you need at your finger tips.
- Tax Summaries. Arc Property are not tax specialists, but we do work with reputable local and international accounting firms to enable us to lay out all the basic facts in an accurate manner. To help you better understand the intricacies of the local tax structure and how it may affect you personally we have provided links to blue chip advice. Naturally we cannot be held responsible for the content of any external sites.
It is important to remember that we are completely independent and as such there is no incentive for us to promote particular properties or developments. This is integral to our corporate philosophy as it means we are able to offer the kind of impartial advice that our clients value so much.
That said, we are always keen to negotiate discounts from developers on clients' behalf. We operate only in the fastest moving markets, where developers are naturally more reticent to offer discounted prices given phenomenal local demand. However, the strength of our local relationships often allows us to use our leverage to negotiate discounts for bulk purchasers, particularly in the earliest phases of a development.
Purchasing
Our London office (with the support of our in-country staff) administers the buying process. With regard to off-plan properties, once you have made your choice you will be required to pay a £1000 reservation fee. This is fully refundable should the purchase fall through for whatever reason. We will then arrange for a contract (complete with English translation) to be sent out. Should you wish we can recommend a reputable local lawyer to check the contract, but we suggest that you also run it past your UK lawyer for peace of mind. Your reservation will be valid for at least 10 working days from receipt of the contract, so you should have ample time. The contract becomes legally binding when it has been signed and the developers/owners receive the required funds in their account.
We will ensure that the following tasks related to the transaction are completed in an appropriate and timely manner.
- Verification of the title deeds
- Notarisation of the title deeds
- English translations of all documents.
- Registration with local authorities
- Arrange payment of stamp duty (if applicable)
We will also ensure that the apartment is finished to you satisfaction:
- Arrange qualified tradesmen to fit out the property - flooring, painting, fixtures, appliances – where appropriate.
- Kitchens - Across much of central and eastern Europe kitchens are not included in the price of the apartment. We can generally arrange for a kitchen to be installed by a local firm at a competitive rate.
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Financing
When it comes to financing the purchase there are two basic options: raise the funds in your home country or borrow locally. We and our partner organisations are able to assist you with every aspect of the latter option.
Arc Property can:
- Help plan your budget. At the outset we can advise you on how much and on what terms you are likely to obtain financing locally.
- Arrange a local mortgage. Most projects in central and eastern Europe are bank financed and it is common for the financing bank to offer potential buyers generous mortgage terms. We can help you investigate this option and assist in taking out a mortgage.
- Shop around for the best deal. Arc Property can put you in touch with fluent English speaking staff at all the major banks or/and we can recommend a mortgage broker.
- Power of attorney. Should it be necessary we can arrange for your mortgage to be setup by power of attorney.
- Local bank account. Depending on the country, you may find it easier to open a local bank account to collect rent, make mortgage payments from and to cover the occasional local expense. This should be a straight forward process, particularly, if you use the bank you have taken out a mortgage with. Should you require assistance we are always willing to help. Nearly all banks now offer internet banking so managing your account is relatively simple.
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Rental Management
We have teamed up with experienced and trusted partners in all our countries of operation to maximise your rental income and minimise your tax burden. The manner in which the service is provided varies slightly from country to country, but the essentials remain the same.
Arc Property and our partners will:
- Obtain tenants for your property either by using a database of potential clients or by advertising in the appropriate local media.
- Arrange the rental terms. We will arrange a contract and credit and reference check the tenants.
- Furnished apartment. Should the (potential) tenants decide they would like a furnished apartment we can arrange this and advise you on local expectations and pricing. Should you furnish the apartment the rent will always reflect your added investment.
- Manage your property. Should there be any problems with the property our staff are contactable 24 hours a day (by either yourself or the tenants) so that urgent matters can be attended to. As most properties we sell are either brand new or recently renovated maintenance costs should be low. Additionally many aspects of the property (plumbing, electrics etc) are covered by warranties. Subject to your prior agreement we can either resolve issues immediately or alternatively we can seek you authorisation to proceed on a case by case basis. All repairs and maintenance will be carried out using qualified parts and labour.
- Collect Rent. Practice varies from country to country, but we ensure that rent is paid in a timely fashion. In some cases rent is paid directly to our management partner who in consultation with an accountant will arrange for tax to be paid before remitting the net income to your bank account. Alternatively the rent can be paid direct to your bank account and our accountant will advise you on how much tax should be paid and when.
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Selling the Property
Knowing when to sell
Our ongoing market research, news monitoring service and regular newsletters should give you a good feel for market conditions. You are also more than welcome to consult our UK based or in-country staff for their considered opinion. In the event of a substantial change in market conditions you can be assured we will make you aware of the situation and offer advice on how you can capitalise on potential gains or mitigate risk.
Selling
At some point, sooner or later, you will wish to sell the property. This is possibly the most important stage in the investment cycle as it is only at this point that any capital gains become real. As part of our ongoing service we will:
- Advertise your property on our website free of charge and actively promote it to any of our clients looking to buy.
- Place your property with a leading local estate agent.
- Arrange an independent valuation
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