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Phuket Real Estate Agents – Navigating The Property Purchase Minefield

Phuket Real Estate Agents

Most people tend to think that all Phuket real estate agents do is show listed properties to prospective buyers.

If you walk into a real estate office and enquire about properties, that's what you'll get, and the real estate agent will be acting on behalf of the seller.

This means that the real estate agent is not permitted to disclose negative information to a buyer about the property that is adverse to the seller's interest in selling the property.

So, if you want more than someone who's acting in the interest of the seller, armed with a bunch of keys, a car and a contract, you're better off using the services of a real estate buyers advocate.

In this case, the real estate agent will be acting for you.

Phuket Real Estate Agents – Using Professionals To Bridge The Information Gap

The most obvious choice is to contract a buyers advocate to help you.

Hunter Sotheby's International Realty is a specialist in this area, and Andrew Hunter, the MD, has a long history of finding sound properties for people.

Another avenue is the Richard Ellis Group who are also registered real estate advisors.

As part of the buyers advocate service, all the properties buyer's advocates recommend are free of border encroachment issues and have an appropriate land title.

The property will also have been inspected by a reputable builder, to check for things like subsidence, structural weaknesses and plumbing issues etc.

They can also provide legal advice and undertake your conveyancing.

A good buyers advocate will be able to tell you everything that needs doing as part of the purchase process to ensure your interests are protected.

Listen to them.

There's no economy in saving $500 by foregoing a decent building inspection, only to find out after the purchase that it will take $60,000 to rectify problems with the property.

Phuket Real Estate Agents – Bridging The Information Gap Yourself

As a buyer, you can avoid the information gap by using common sense and doing your own due diligence.

It's up to you to decide if the savings (if any), are worth it.

If you are going to do your due diligence on your own, make a list of everything that needs to be checked.

The list should have a least 100 items on it or it's not even close to being complete.

Then select your area and research the market and future planned developments.

Once you have narrowed down the location, drive around jotting down the numbers of the real estate agents on the properties that look appealing to you, and give them a ring.

Once you decide on on a property, make an offer, and then put your 100 point plan of due diligence into operation before the "cooling–off" period expires.

And don't forget to hire all the various professionals you need to ensure you're not buying a lemon.

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