Most people prefer checking the place they want to rent out first before agreeing to the lease contract in person but in the world’s situation these days it might be difficult to travel, check the place and sign a lease contract face-to-face, especially if you’re moving from one country to another. So, what should you do when you want to rent a home abroad first before moving into the country?
Ziptoss is a real estate company based in South Korea that can guide foreigners through the process of renting a home without feeling too overwhelmed and stressed. Ziptoss also provides helpful information that foreigners can use as they start new beginnings in South Korea. Now, since the pandemic is still ongoing and most people are staying indoors, it might be difficult to find an apartment to rent when there are travel restrictions, health and safety measures, and lockdowns in some parts of the world. Aside from that, there is also a quarantine period that we have to oblige to when traveling from one country to another. So in this article, we’ll be discussing how Ziptoss’s real estate smart contracts work for foreigners and even for locals.
Ziptoss’s non-face-to-face contract process
- Visit Ziptoss’s English website and choose a location where you want to rent a home/apartment.
- Contact an agent and set a schedule for an initial consultation with the branch manager. You can discuss the details about what you are looking for in an apartment, your budget range, and they can give you some feedback or follow-up questions.
- After the initial consultation, there will be more detailed consultations conducted and it will depend on the customer and agent’s agreement if needed.
- After these consultations, a Ziptoss agent will send you a list of properties according to the client’s budget and information that was given during the initial consultation.
- Once you’ve chosen one or two listings you like the most, the manager will go directly to the property and take present-time photos and a video(a video call is also possible if the client requests for it).
- After carefully watching and observing the received video, and if the client is satisfied and decided to choose the listing, the contract will continue non-face-to-face(smart contract).
- After confirming with the landlord/homeowner, Ziptoss will send you the registration documents for the house, explain them further if necessary, and send you a special smart contract for the agreement.
- If there is no problem with the contract, a security deposit is required. If the security deposit will be coming from another country, the client can use Wise or Paypal to send the security deposit to Ziptoss.
- The downpayment is usually around 10% of the security deposit. If the deposit is low, you may ask for more than 10% to guarantee your rental to the landlord or homeowner.
- Once payment is confirmed, the non-face-to-face smart contract will be immediately reflected and be marked as completed.
- The remaining security deposit, monthly rent, and the real estate brokerage fee must be paid before or on the day of moving in.