How not to fall a victim upon purchase of real estateSwindlers are in any country. Acquisition of real estate abroad - in itself risky the businessman therefore it is necessary to approach attentively the choice both object, and real estate agency.
Safe for such enterprise reckon Germany, Austria, Switzerland, France and other countries with the settled markets of real estate. And here carefully it is necessary to approach such countries as Egypt, Turkey, Bulgaria
of Real estate agency play a role of intermediaries at the conclusion of the transaction. Their main objective - to find the necessary object and to provide to the client information on him what they also receive money for. Buyers sometimes lack time for independent search of the data necessary for the transaction therefore it is necessary to trust realtors. And they, to chagrin, sometimes neglect interests of clients.
One of popular ways of deception - the double commission. In the majority of the countries only the seller of real estate is obliged to pay work of intermediaries, however agents often use inexperience and trustfulness of foreigners and charge a fee both from sellers, and from buyers. It is necessary to remember that you are not obliged to pay services of realtors in Great Britain, Egypt, Spain, Finland, in Cyprus and in some other countries.
it is not necessary to use services of the lawyer who is offered by realtors. It is much cheaper to address the help of the independent expert. If the real estate agency advises the lawyers or mortgage brokers, it means that you, most likely, should overpay. For example, in Great Britain there were cases when law firms to be ahead of competitors, bribed real estate agencies (about 300 pounds sterling) that those shared clients. Result of it cooperation there were overestimated fees which were charged from nothing the knowing buyers. So, at registration of the transaction of purchase and sale of the two-room apartment worth 235 000 pounds sterling from the client took 649 pounds for legal services. From them 351 pounds were appropriated by " real estate agency; for assistance .
Some realtors try to sell obviously illiquid houses. In Europe there are many objects which during crisis lost to 50% of cost from - for unsuccessful locations, bad quality or poorly developed infrastructure. Therefore low prices have to guard.
Besides, agents of real estate can it is casual to forget to notify the buyer on important restrictions - for example, that in the house it is forbidden to make repair. Especially it concerns historical buildings which owners have to get permission at the authorities before repairing a roof or to replace furniture, windows and doors.
Purchase with a dirty trick
Can turn out that the person selling real estate - not the so real owner, and, for example, the tenant as it happened in Great Britain a few years ago. Angela Hargreaves who stole documents from the hostess of housing tried to sell a country house in the Victorian style for 910 000 pounds sterling. The court sentenced her by 200 o`clock public works. Not to get into a similar situation, it is necessary to address services of the qualified lawyer who will carry out expertize of documents and will confirm the property right. Also does not consult to conclude bargains far off, it is better to meet the seller personally. So, a few years ago in New - Delhi (India) the swindler sold to the foreigner for 420 000 pounds sterling the house the prime minister Online - the minister. The buyer understood that he was deceived, only when tried to move to new housing.
Not all buyers demand documents on the property right. Meanwhile, the housing can be the public place. So sometimes occurs in France where swindlers sell the penthouses and gardens which are in possession of all residents of the house.
Risky real estate from builders
Exists big risk at acquisition of real estate of off - plan (before completion of construction). In this case the buyer makes a deposit (10-30%), and then pays the sum by installments. Meanwhile, many builders are unpromising; for example, in Bulgaria every fifth civil engineering firm - the bankrupt. Before purchase of real estate at a stage of construction it is necessary to take an interest in a state of affairs of the company, to read responses on the Internet, to study complete projects. As the main criterion of reliability of the builder serves the wide experience of work in the market of real estate.
If houses are built to borrowed money and the earth costs little, and the company has no liquid assets, then is unprofitable to sell object, and building time drags on for years. To avoid problems with unfinished construction, it is necessary to be convinced that penalties are stated in the contract and obligations of the seller to return to the buyer a deposit in case of a construction delay (for example, longer, than for two years).
Construction companies with good reputation insure objects to protect potential buyers. Therefore upon purchase of real estate of off - plan it is necessary to address only to the checked firms.
Very few construction companies insure objects. Be convinced that you deal with the company with good reputation, otherwise you risk to lose money as well as the house - Dennis Phillips, the head of the consulting company John Howell & Co says.
Happens so that the authorities recognize construction illegal and stop it, and buyers lose the money.
B 2010 in Costa - del - Salt about 400 foreigners from whom 300 - citizens of Great Britain, lost in total 34 million pounds sterling upon purchase of apartments of off - plan in a housing estate. Many left a deposit of 70-80 thousand pounds sterling. Construction recognized illegal, and it was stopped. If there was a similar situation, it is necessary to address to local initiative groups which in Spain there is a lot of: for example, Abusos Urvanisticos Lliber - No, Spanish Property Action Group and others. Such organizations are created to file a lawsuit the collective claim and to return money to the deceived buyers.
In hard cases is even required the help of the government of native lands of buyers. For example, at the end of 2010 the government of Great Britain appointed the adviser for foreign real estate whose purpose - to contact initiative groups and to help them to solve the problems which arose at the British owning real estate in Spain. However it will be hard to make it as any foreign state has no right to interfere with legislative system of Spain.
Besides, in Spain thousands of houses are constructed illegally, that is or owners have no construction license, or documents are not true. In 2010 about 5 000 foreigners, in the south of the country, were in Almeria under the threat of loss of housing because, it agrees to the Spanish laws, their illegally built houses have to be demolished.
In the Spanish legislation there are too much tears, and it gives a free hand to swindlers. It is a lot of unfair promoters, builders, agents of real estate, lawyers, notaries, representatives of municipal authorities... Their main goal - to earn as much as possible money in short terms. They are not interested in a moral aspect of a question, not to mention laws and corruption. Some foreign buyers of real estate are so naive that consider as if in Spain everything will work also harmoniously, as well as in Great Britain or Northern Europe, but it is simple castles in the air . Besides courts work extremely slowly here, and it is not enough other ways of the solution of problems - Charles Svoboda, vice-the president of initiative group from Valencia says Abusos Urvanisticos Lliber - No (AULN).
A in Bulgaria construction companies often sell to foreigners real estate nearly three times more expensively, than to Bulgarians. Besides, builders usually do not mention in the contract of purchase and sale that the new housing is assessed with the VAT at the rate of 20%. Therefore it is necessary to collect all information on taxes and the commissions in advance.
In Turkey quite often are on sale houses with documents according to which they can be used only as public buildings. These violations are especially characteristic of resorts, such as Bodrum, Fetkhiye and Alania. The Turkish tax authorities can demand confirmation of an investment income and impose penalties if the owner does not manage to show it. In the worst cases from owners can demand to sell the house or even to demolish it. not only builders, but also the builders doing repair can Ruin
of Swindle of builders
at the end of 2010 in Great Britain judged builders - swindlers who offered elderly people expensive services. As a result about 1 600 people suffered from their activity. Pensioners at the age of 70-80 years paid for a fictitious assessment of property and repair which actually was not required. Thus deceivers earned more than 1,5 million pounds sterling.
For example, unfair builders suggest to repair conducting. Main argument: Your house will burn down same night if we do not help you . In other episode 75 - the summer pensioner suggested to replace a tile on 60 pounds sterling apiece because its roof here - here will fail . There was a case when the owner paid 82 000 pounds sterling for repair which actually costs only 14 000 pounds.
How not to fall a victim of swindlers
Low prices have to guard. Possibly, the sold object is illiquid or has other problems. For example, in Bulgaria apartments in areas where there live Roma cost little.
Address only to the professional, reliable and checked agencies with good reputation, it is better according to recommendations of compatriots.
Address the lawyer who was recommended by your acquaintances, or the expert whom you know personally even if his services cost much. Ideal option - to find the lawyer accompanying transactions abroad in Russia. You should not use services of experts who are advised by real estate agency. Demand
that the agency informed you on all payments and the commissions.
it is not necessary to participate in transactions on the scheme cash back (return of cash for purchase), instead it is better to ask a discount.
is better not to resolve issues far off, and to meet personally the seller. If you buy by
real estate of off - plan, it is necessary to learn as much as possible about the builder: as long it in the market whether it has financial difficulties, whether there are a construction license and the property right to the earth.
If you invite experts from the firm which is engaged in repair of buildings, ask the documents confirming lawful activity of the company. Make sure that addresses and phones of the organization are true.
If all of you - suffered from swindlers, whether it be realtors or construction companies, use services of the independent lawyer who will help to solve a problem. It is also possible to address to associations on protection of the rights of foreign buyers which exist in some countries.