Property Inquiry Etiquette

[Steven]

Hello Everyone!

It's been a few years since I looked into purchasing property in Croatia. But I recently found a nice sized house near family that is now available. I wrote to the agency listing the place for more information, including asking for the parcel number from the katastar. They responded stating that they could not give that information out.

Was I wrong in asking for this information in order to research more on the property, or is this something the agency could give out? I am asking just so I can try to avoid crossing any "lines" making things more difficult for myself.

Thanks!

[prkbrk]

Agency trying to avoid getting cut out of any direct sale by owner I would reckon.

[usplitu]

You will need to sign a mediation contract with the real estate agency before they will provide you with any information on a house or land parcel. Without that, as prkbrk says, you could cut them out of the sale. While you may not have any intention of doing this, you can understand that the agencies have to protect themselves as people often do this to them.

[Steven]

Hi usplitu,

I kinda had that feeling. Thanks for your response. I have noticed varied prices on this property from other agencies. So hopefully I can get as much info before I go head first into this!

Thanks again!

[usplitu]

Hi Steven, if the property is listed on a couple of agency websites, it is worth checking out the agencies before you sign a mediation contract. There is quite a big difference between the rates and quality of service provided by different real estate agencies.

Also, well worth checking out the commission rates charge by the agency in advance. These commissions vary from agency to agency but a 1% difference (1.25% incl vat) can be a chunk of money to you. Once you sign with one agency and they show you that property or provide you information regarding it, you cannot then buy the property through a different, cheaper agency as you're committed through the mediation contract for a period of up to two years.

It doesn't really matter what it's listed at as the owner is the same person no matter who's listing it - and the owner will have their price. Good luck.

[Carol]

My agency would never hand out that sort of info to someone without getting something first signed by the person that would mean we could collect a fee for the introduction. Likewise, we would think very carefully before giving enough information to allow the interested buyer to walk up to the front door of the property and try to make a private deal with the owner. Its amazing how many times we've had a call from a seller (or a neighbour) to say that the people we brought round for a viewing yesterday are back knocking on their door, trying to cut us out of the deal.

[Carol]

As to the varied prices, there are a few possible reasons:-

1. The seller has changed their mind about the asking price but hasn't told all the agencies. (most common)
2. Certain agencies are a tad lazy (and unscrupulous). They steal photos etc from other agencies websites and then just make up a price to entice the buyers in. You may not be able to buy the property at the price advertised, but that's not the point as far as the agency is concerned. Their interest is in having your contact details so that they can sell you something else.
3. Not so common now, but seller's used to tell agencies to add their fees on top of the price. e.g "I was €100,000 and you can keep anything you make over that".

[Steven]

Hi Carol and usplitu,

All very good information to know. I can understand the reluctance when it comes to the agency not giving too much information out. And rightly so. It wasn't with the intention to screw the agency in question in any way, but just to go into the process as well informed as I can be when it comes time to talk price. And I think its good to keep in mind that some prices listed are not the most accurate. Considering the sizable fee the agency would take from such a sale, I atleast want to minimize the pain as much as possible that I would need to pay out. I realize the agency is definitely providing a valuable service in presenting and selling the property. But I would prefer to keep all costs involved with the purchase of the property as low as possible! ;-)

[Carol]

I understand your position, and I believe you. The problem the agency will be having is that everyone says that so its hard to distinguish between those who are being genuine and those who aren't.

Actually its not hard, its impossible until you've got to know the person involved.

What you can do is ask the agency to check that the property is clean and to be willing to reimburse your travelling costs if it turns out later that it wasn't! I'd gulp if asked that one, but I'd make sure we checked the paperwork one more time before I replied!