Overseas Property for under £15k? Really...

[trent]

Hi All,
Just came accross this link: Buying Abroad - House for under £15,000 from Channel4.com/4Homes from the Chanell 4 website. Are these properties for real or are these scams - come on there must be some sort of catch. If not wht don't more people have second homes / holiday homes? I thought holiday homes were only for people like my boss but at this prices perhaps his PA might be able to afford one.

Has anyone bought (outright) for under £15k. If so can you tell me in which country area - I prefer to go were others have experience and can off advice.

Many Thanks
Trent

[The Soup Dragon]

Not scams, but property only scores well if £15k is your budget and you are not willing to get a mortgage for leverage. I imagine you will have real problems renting any of this property and the run down properties will likely be money pits. For me the pick of these would be the ones in Estonia. If you can find a well located property with land you could be onto a winner.

[TH4S]

Trent.
I can only comment on (altinkum)Turkish property's

The answer to your question.Has anyone bought (outright) for under £15k.!

We have sold several propertys for under £15.995. they have been unfinished project's.however that was two years ago,

£15.995.appears to be old prices,
If the deeds(Tapu) shows "depot" or storage for a ground floor flat, even if it is already a flat, it cannot be sold to foreigners, this is a national law. The law has not been changed and it is unlikely to change before the Election in2007. Please be very careful, some people have come up with various tricks to try and change this, such as putting a turkish national's name on the deeds (tapu) as a "temporary measure". This means that in the eyes of the law they own the property. Bear in mind that even if you trust this person implicitly, if they died before the law changes, the property goes to their family under Turkish law and you could find yourself in a very difficult situation. Always double check and take independant advice if you are consider buying a ground floor apartment in turkey.

Trent.
Try emailing them.If they do reply to you,send me there adress, I am not far from altinkum,

[Kevin 125]

Hi Trent,

I agree with The Soup Dragon and I would think at these prices you may struggle to rent and would have to add the cost of renovation and all the extra cost that comes with that (travel, loss of regular earnings etc)

'if you know where to look, are prepared to venture a little off the well-trodden path, and, in some cases, don’t mind undertaking some renovation work. '

For me, this would be enough to put me off for the exact reasons above.
It would depend on what you are looking for and what you feel comfortable with.

Welcome anyway and good luck for the New Year.

Regards Kevin

[trent]

Thanks for the help guys. I will look into Estonia and Turkey in a little more detail. Has anyone has any experience (sub £15k) in any other areas?
Regards
Trent

[Tania]

Have a look in Bulgaria - we sell lots of properties under 15 K /rural houses, newly built one, studio or even one-bedroom apartments/.

Good luck,
Tania

[trent]

Hi Tania,
Have you got any links you could post for me to look at.
Thanks
T

[Tania]

Hi Trent,
please try Find properties to buy, homes to rent, overseas houses and new homes on rightmove.co.uk and then go to overseas and Bulgaria

There is a big choice!
I can send you e-mail with few properties under 15 K if you wish.
You may see my e-mail is in my "public account"

Regards, Tania

[TH4S]

Tania.

Dont think i have had the chance to say hello and welcome yet,Thank's for all your help and support on the forum,

TH4S.

[Tania]

Hi TH4S!

Its a really nice fourum and I enjoy it! Thank you for making me feeling welcome!
TH4S, are you located in Turkey?

Tania