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With a dynamic real estate market predicted to continue on through the next few years in Guam, those who are well-invested in the industry need all the help they can get to make wise purchases. Here are 5 helpful tips you should know when shopping for the perfect Guam property.
CHOOSE THE RIGHT REALTOR
When you find yourself in the market for new property to invest in, the most important thing is to find a real estate professional that is efficient in the field as well as in monitoring real estate market and doing paper works. You need someone who knows what is going on and fully understands the current market trends. It should be someone who is out in the field often, engaging in a lot of conversation and research, trying to know more and more everyday what the customer wants.
You’ll also want someone who is not just field-savvy, but also productive in the office. Both the acquisition and selling of property involves a lot of documentation. It is best if the real estate professional you work with knows the ins and outs of all the legal requirements of your property investment.
THE INTERNET DOES NOT HAVE ALL THE ANSWERS
The good properties are usually not online. If they were, it would no longer be available the next day. With everyone always waiting for something to become available and posted on the internet, you’re almost sure you’ve already lost it. The best way around this is to work directly with a good realtor. They are more likely to be aware of up and coming properties that are worth your time and money, before they are even out on the market.
IF IT’S GOOD, TAKE IT!
It is likely that there are several offers being countered all at the same time. There are some markets where people are willing to wait forever for a good price, and when a good property becomes available, they’re ready to grab it right away. This holds true for excellent quality properties located in high-demand areas, that more foreign investors are eager to purchase in Guam these days.
DO YOUR RESEARCH
Try to understand the challenges of finding a property in Guam in your price range, before embarking on your property search. It would be in your best interest to be knowledgeable and do some research months ahead and approaching the project with the full realization that it’s a challenging and highly competitive market to begin with.
UNDERSTAND THE DYNAMICS OF SUPPLY AND DEMAND
Be aware of the location and demand when negotiating price. There are some sellers who are willing to negotiate and others who are ready to wait for someone to offer their asking price on a good property. If you’re looking to purchase property in a popular area, you should be prepared to act quickly and to pay more.
On the other hand, shopping in lower demand areas may lead you to more flexible sellers.
The real estate market in Guam is continually growing and becoming more dynamic with every passing year. Should you want to expand your property portfolio, perhaps it is the best time to look into this investment option. Guam is so full of potential with a future so bright and promising. Your real estate investment in Guam will definitely be worth your time and money.