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Post by darcy on Jan 24, 2009 20:33:04 GMT 1
Motivated seller is not a divorce or death. That is a desperate seller. Motivated seller is seller upgrading or downgrading, or an investor reshuffling its portfolio. In any case, it is "sell chear, buy chear" - "sell expensive, buy expensive" game with little or no nett difference.
For majority of sellers current market conditions have little or no real importance.
The only difference are the "second home" properties - it is very difficult to sell. "First home" properties will always find a buyer for the right price - you need to live somewhere.
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Post by Madgolfer on Jan 26, 2009 11:46:49 GMT 1
Some of this will stop when the new real estate laws come into effect in April.
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Post by happy on Jan 26, 2009 11:58:25 GMT 1
Some of this will stop when the new real estate laws come into effect in April. What new real estate laws?
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Post by dalmatino on Jan 26, 2009 12:54:24 GMT 1
Can anyone sell this? house + 25K square meters (entire cove)
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Post by ray51 on Jan 26, 2009 13:05:17 GMT 1
First home" properties will always find a buyer for the right price - you need to live somewhere. So then you rent , and your good money is not locked into bricks and mortar , which might be revalued downwards anytime , during this most serious reccession...?
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sksk
Junior Member
Posts: 12
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Post by sksk on Jan 26, 2009 17:07:23 GMT 1
Yes, you do rent rather than buy. It's what I've done with my family. I've been looking for a place on Vis for years. Prices are still nuts. Worse, the sellers are nutso. I've bid for two properties only to have the price upon bid doubled once and nearly doubled the second time. So I wait. But time and economic fundamentals are on my side. The crazy price days are ending; the crazy reduction in prices will soon follow.
Anyone who bought in the last five years will, unfortunately for them, see major losses in value.
Hell, even the fantasy Russian buyer is beholden to the rapidly tanking ruble.
The world has fundamentally changed. And one of these days the sellers of Croatian property will come to terms with this reality and price their properties at realistic prices.
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Post by galant on Jan 27, 2009 0:52:54 GMT 1
yeah, croatias coast is beautiful.
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Post by Madgolfer on Jan 27, 2009 12:56:46 GMT 1
There are important new laws coming into effect in the spring which make very good news for most buyers.
An outline of the main points are as follows; A)Real Estate Agencies must work from registered business premises in Croatia, not from a room in their home, a cafe bar, hotel, or from “outside“ of Croatia. B)Agencies must be registered and have a Real Estate Licence. C)Anyone working in the real estate business, as a property agent or in any other form must have passed the Real Estate Agents exam. D)Agencies must adopt and adhere to a strict code of conduct and carry comprehensive business insurance. E)All charges, commissions and fees must be clearly stated and be within the fixed parameters and guidlines set out by the Crotian Govt. E) Heavy fines will be imposed on any person or agency that is caught working outside of the new laws above, for each and every breach of the law, along with penalties restricting further involvement in the real estate business. F) All sellers will have to sign an enforcable, legal contract for a minimum period of 12 months (unless stated otherwise) which includes provisions for penalties for unfair withdrawl of any property from the market.
I will try and post a link to the full law later today.
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Post by janjohansen on Jan 27, 2009 13:10:14 GMT 1
sksk
Yes the property market fundmentals have changed in a lot of the developed countries and I'm almost sure that this will also effect the Croatian real estate market. However don't blame the sellers for the asking price, blame the market, i.e. the buyers willingness to pay over inflated prices for the property of their dreams. Let's hope that the Croatian real estate market readjust to the current realities just like it is doing in UK's long over priced property market right now, so you and perhaps more important the younger generation can afford to take the first step on the property ladder both in the UK and Croatia.
BTW I have never been to Vis but intend to visit the island for a couple of days sometimes this spring, it looks very nice and an old partisan friend of mine who had his base there during WWII has told me that the locals there are the friendliest on the dalmatian coast.
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Post by Ribaric on Jan 27, 2009 14:36:41 GMT 1
E)All charges, commissions and fees must be clearly stated and be within the fixed parameters and guidlines set out by the Crotian Govt. Fixed guidelines?... By the government? Is this necessary regulation or old-style commie politics of envy?
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Post by darcy on Jan 27, 2009 22:14:58 GMT 1
E)All charges, commissions and fees must be clearly stated and be within the fixed parameters and guidlines set out by the Crotian Govt. Fixed guidelines?... By the government? Is this necessary regulation or old-style commie politics of envy? Fees should be negotiable between the seller and the agent. In Croatia it is also the buyer and the agent. (This exists only in Croatia - paying for the house and then paying for the agent. A)Real Estate Agencies must work from registered business premises in Croatia, not from a room in their home, a cafe bar, hotel, or from “outside“ of Croatia. - Stupid, this would just increase the costs. Who care where you are working from as long as you do the job? F) All sellers will have to sign an enforcable, legal contract for a minimum period of 12 months (unless stated otherwise) which includes provisions for penalties for unfair withdrawl of any property from the market. What the hell is this all about? Who wants to sell - go for it, if somebody does not want to sell, agency will not list the property, or list it and tell the buyer - "You know, this one is not really keen to sell, but we can try, if you want.". This is a typical Croatian joke, but also the way they do the business. Bolsheviks. Next time they will put in the law how many times the seller needs to go to the toilet?
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Post by Madgolfer on Jan 28, 2009 16:11:31 GMT 1
The ideas behind the new laws will go some way to stop;
Sellers marketing their property through an agency only then to try and inflate the price when a buyer is found.
Also, make sure that set maximum fees can be charged by agencies, no more hidden 20%-30% commission charges.
Would you really be happy paying an "agent" 10% commission if he has no overheads and just gets his properties from the windows and adverts of other reputable agencies?
You should also ask yourself how you would get in touch with a non registered agent if you have any problems after the sale? Will they answer their mobile phone? Will they still be in that Cafe bar where you met them? I think not!
As with everything in life, you only get what you pay for!
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Post by ray51 on Jan 28, 2009 18:23:18 GMT 1
O.K. ; - in S. Africa , we ( allways ! ) had a mandate , in writing , to sell someone's property for a spelled-out price ; - once we matched this mandate , with a written & signed offer , agents' commission automatically became payable , in any case , sale/transfer , or not ; the law was on our side , on the basis of fullfillment of contactual obligation/s , for all the right contactual reasons ; - and we usually got paid , whatever the case of mad-cow-desease might have turned ot to be , with the "vendors" ... .... - and in HRvatska , today ?
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Post by Carol on Jan 28, 2009 18:29:38 GMT 1
O.K. ; - in S. Africa , we ( allways ! ) had a mandate , in writing , to sell someone's property for a spelled-out price ; In Croatia today, we have the same thing.. - once we matched this mandate , with a written & signed offer , agents' commission automatically became payable , in any case , sale/transfer , or not ; but we don't have this clause. Good idea though. the law was on our side , on the basis of fullfillment of contactual obligation/s , for all the right contactual reasons ; - and we usually got paid , whatever the case of mad-cow-desease might have turned ot to be , with the "vendors" ... Drafting contracts within the law and later enforcement of the law is in fact the main problem
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Post by darcy on Jan 28, 2009 23:16:34 GMT 1
O.K. ; - once we matched this mandate , with a written & signed offer , agents' commission automatically became payable , in any case , sale/transfer , or not ; the law was on our side , on the basis of fullfillment of contactual obligation/s , for all the right contactual reasons ; What are you talking about? Agents gets payable ONLY when the money changes hands. This is agent's pretty tengable "contractual obligation" - to make a sale. No sale where all parties are happy - no money.
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