Frequently Asked Questions
What is the Due Diligence?
A study that often precedes the purchase of property, which considers the physical, financial, legal, and social characteristics of the property and expected investment performance In other words, to a potential property investor, due diligence means “making sure you get what you think you are paying for.
Is Due Diligence carried out on all our developments?
All our properties have had Due Diligence carried out before they’re even advertised. Permission to build, land ownership and the building license are all confirmed, reducing the risk as much as possible. Certain investment deals might be advertised before the final build licenses are confirmed, but this will be made quite clear in the advertisement.
How much does our service cost?
Absolutely nothing. We take our commission direct from the developers, nothing is added onto the asking price. We have strong relationships with the developers we choose to work with and are able to negotiate on your behalf if you so wish, meaning when possible we can save you money.
Also, as we carry out full due diligence, you can be certain every effort has been made to ensure that your purchase will not be just another ‘horror story’.
How do I go about arranging a mortgage for my overseas property?
We are able to identify various mortgage advisers in the countries we sell in. We can recommend the most suitable company to work through depending on your own requirements.
How do I go about furnishing my property?
We offer various options when it comes to the furniture, from basic packages to full rental packages and anything you require in-between, but to be added to our rental portfolio we need to fully furnish the property. This can be done including finishing touches or we can furnish 95% and the owner can go over and add their own finishing touches.
How do I go about renting out my overseas property?
If you own a property in Hurghada, Egypt then Rivermead Global Ltd offer a full rental management service from as little as £300 per year. This includes everything, advertising, dealing with bookings, dealing with the guests when they arrive, making sure the apartment is ready, being on call if they have an issue while using the apartment, key holding, check in/out property management etc… We don’t take any commissions on the income it goes to the owner.
What about legal advice?
It’s important to have independent legal representation and advice when you’re buying property overseas. You might also want to organise a Power of Attorney, which means a solicitor is appointed to act on your behalf so you don’t have to fly out to sign papers. You can use your own lawyer, or we can recommend lawyers in each country.
How do I go about getting my property insured?
For comprehensive building and contents cover we recommend Intasure’s Holiday Homes Abroad Property insurance, specifically designed for UK-based owners of overseas holiday homes. Intasure’s comprehensive cover is underwritten by one of the world’s leading insurers, Lloyds of London and other international insurers, and includes essential features such as cover during letting and protection when the property is unoccupied.
Here is our introducer link, you are of course free to use any company you wish that suits your requirements
Can I go and see the properties before I buy?
In order to make an informed purchase we would always recommend an inspection trip. We can arrange this for you or you can organise your own trip. Either way, we’ll set up meetings, pickups and viewings.
What happens after I have bought?
We offer a complete after sales service, once a customer, always a customer. We pride ourselves on providing the best service possible. If you have any questions, enquiries or just want to keep in touch and updated with our latest property news, please feel free to get in touch.