Investing Process

At this early stage of the process, we begin by getting to know the driving force and the purpose of investing. A few questions arise during the first meeting (virtual or in person) not for getting unnecessary information from the investor, but on the contrary, digging deeper on what a perfect property would be based on the frame of conditions the investor is in. Did that make sense to you? So, a pre-qualification process would actually be half of the work, not by volume but by the clarity that will drive us to the proper selections. As it is said in Albania, the good day can be seen since its early start.

In our age of internet and social media, you might be exposed to a million pages trying to get your attention, would that be to sell you something directly or to lead to another page. Infinitely. A market is not researched and evaluated by looking at the properties without having a clear mind on it. Do we agree? What do we mean by that? Let me use an example to make it simpler. Let’s say you are looking to buy a gift for your kid. You enter a specific kind of store selling iPhones. The store-seller will not lose this chance and he will try to show the “whole” market within its store, and try to compare the products he has on hand, without noticing why you have gotten inside the store, or the driving forces behind. That happens most of the time in Real Estate Agencies or other Sales offices. Who would not want to minimize the time imputed at the work process?

This kind of process did NOT actually work for us as Real Estate Investors. The way we work is by qualifying pretty clearly the criteria of the request (that’s what we do when we buy as well), and not forgetting the market conditions and the flexibility.

That’s why we have built a large network of individuals and companies that are actively and passively involved in the real estate market. That’s a lot of work done behind, or put it differently, years. If in a normal market, you as a real estate investor would have to deal with multiple sellers and agents without having a clear work-relationship with none of them, in our process, we would be your eyes in the market. We would deal with those sellers and agents, with no extra costs.

We have properties that we might have selected from the market, and properties that are not yet in the market. You may ask what do you mean with the latest one? There are some kinds of properties that for some reason we haven’t uploaded to the market. Reasons such as unique properties, the agreement with the owner, on the process of getting the construction permit, etc.

Who would it filter best other than investors themselves? We are in the market, and I would say confidently ‘8’ days per week. We know what happens there, but we also know how to set the buying criteria. Both of these combined, make our work much smoother, and less-attention losing. We are focused. If we are skeptical about a property, we tend to require more details. And if the skepticality does not go away, we just throw that property to the ‘recycle bin’. It’s obviously not for us, and consequently not for you. But if there is a convincing-looking opportunity, we calculate it based on the opportunity cost. The latter is subjective. Here comes for help, the first stage of the process, getting to know that frame of conditions that you as an investor are in.

After we have pointed out a few selections based on our evaluation criterias, we set a meeting (virtual or in person), to get to know the alternatives together.

We discuss the properties, the potential, the documents, the location, and every other detail playing an important role in the decision making process. Here we become aware of the property conditions. This presentation is prior to the Visit in Person the Property, where everything gets down to full clarity.

At this stage, we have gone forward in our collaboration of consulting, researching, evaluating, selecting, presenting and making a decision. But wait! That does not mean you are obliged to make a positive decision. No No!!!

We think in your shoes, as we are actually in your shoes! We all like to know the advantages and disadvantages of the properties. As in everyday life and in work as well, we have to make decisions by weighing the pros and cons, adding here the opportunity cost as well.

In case of a negative decision. The process extends to our research looking for other opportunities in and out of the market. But that only if we are aware and a bit sure that we would find something more suitable.

In case of a positive decision. This means you agree on acquiring one of the properties presented. That continues to the point further on, reservation.

Property Reservation for Purchasing Intentions is an agreement between the buyer, the seller, and us as the brokerage firm. The agreement consists of the conditions the parties agree to follow on. That regards to the payment installments (if), to the value agreed, the correct time the parties will be present at the notary office for signing the Purchasing Contract, other specific details requested and agreed, and the amount paid by the buyer for reserving the property and withdrawing it from the market.

In time, this agreement is valid till the Purchasing Contract. The amount usually needed for the reservation is about 4 to 5% of the total value agreed. The purpose of this Reservation Agreement is to stop other discussions and market requests for this specific property.

(Includes: conditions, payment method, the rights and the obligations of the parties)

We manage this phase in collaboration with the notary office. After we have agreed on the conditions between parties (elaborated in the Property Reservation Contract), we explain that to the notary office, where they draft it into a proper Purchasing Contract. We deal with the property documents, updating the Certificate of Ownership (if), and the Property Paper which tells us the property is not already being used as a collateral for a loan in benefit of the seller. To update these documents we use the fast procedures at our cost.

You are now officially a Real Estate owner in Albania. But you may ask what kind of documents verify that?

There are two types of documents based on the specific building and its phase of construction.

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