O
OverseasCafe
Guest
This thread arises as a consequence of the Parador Inspection Visit thread, but it's not directly related so we've started a new thread for it.
The subject of subsidised Inspection Visits (IV's) pops up fairly regularly in posts throughout the site as they are so common in this industry, particularly in resort locations where there is a lot of competition for buyers.
For this reason we've commissioned a piece on Inspection Visits ([broken link removed]) for the site and it also gets a mention on our blog (see here).
Basically use an IV very sparingly unless you know the area and the company very well. You will be put under pressure, whether it is very obvious or more subtle, because it is a selling tool, not a subsidised holiday. If you don't know an area then visit it yourself to find out about it, you won't find out very much on an IV, except what the agent wants you to know.
If you know the area quite well and have a fair idea of the company, or even property, that you are likely to purchase, then an IV can be a very cost efficient means of completing the deal. Otherwise you should visit independently, see what the area has to offer for yourself, talk to a range of agents, developers and letting agents (if you will need rental income).
If you are looking at investing in a resort location visit it in the off-season and see if it is still appealing. If you will need to let the property you will find this is when you use it most so if you don't like it out of season it could become a bit of a millstone around your neck.
The subject of subsidised Inspection Visits (IV's) pops up fairly regularly in posts throughout the site as they are so common in this industry, particularly in resort locations where there is a lot of competition for buyers.
For this reason we've commissioned a piece on Inspection Visits ([broken link removed]) for the site and it also gets a mention on our blog (see here).
Basically use an IV very sparingly unless you know the area and the company very well. You will be put under pressure, whether it is very obvious or more subtle, because it is a selling tool, not a subsidised holiday. If you don't know an area then visit it yourself to find out about it, you won't find out very much on an IV, except what the agent wants you to know.
If you know the area quite well and have a fair idea of the company, or even property, that you are likely to purchase, then an IV can be a very cost efficient means of completing the deal. Otherwise you should visit independently, see what the area has to offer for yourself, talk to a range of agents, developers and letting agents (if you will need rental income).
If you are looking at investing in a resort location visit it in the off-season and see if it is still appealing. If you will need to let the property you will find this is when you use it most so if you don't like it out of season it could become a bit of a millstone around your neck.
