[Investy]

You can ask the agent questions, but thats like asking your barber if you need a haircut.

The due dilligence you must carry out should include;

1) Find a large law firm probably one with offices in London and Tunis. Agree a set fee. Beware of using the agents / developers local lawyer - there are many stories of bent lawyers in cahoots that can tie you in knots and you will not ever get redress. Make sure everything will be done in English

2) Who EXACTLY will let the property. The agent will likely say it will all be taken care off - but if it is not in the contract it might never happen. This is a key error investors make time and again.

3) Bearing in mind many properties in Spain, Turkey and Bulgaria do not earn enough rent to even cover the costs of loss of interest on your savings and on going costs, really think whether the rent will be sufficient. You should be looking for about 7% yield AFTER all costs as a minimum.

4) Now this is the greatest lesson I've learned - do not buy off plan. You will merely pay for the developers risk - if they go pop you wont see a penny. Instead buy built property - agents will tell you you wont get good value this way but that is a total nonsense. Many people struggle to come up with completion funds and are forced to sell thier built new property for a song - thats when you buy. So much less risk, much more peace of mind.

5) How will your next of kin sell the property - who will they phone? The agent selling new builts I will bet will have no interest in resales - but beware they will tell you otherwise.

6) How will you your next of kin get the money out of Tunisia - believe me this is another common mistake, where funds end up frozen in a foreign land because the necessary paper trail was not put in place when the property was paid for.


As a note I am sure Morocco is a far superior investment with many large upscale devlopers developing there now, and closer than Tunisia, and I would say much more up market. Ive been to Tunisia and note its always features on the bargain holiday text channels. Perhaps thats the market you want - but for me this market is too OVERSUPPLIED - you could well struggle to let the place.

Remember this - EVERY area according to the agents involved is up n comming.

Bets of luck