Expat Scam
Truly picking up a new property exposes purchasers to risks of scam related to the price and the conditions under which they buy property. Expats looking for homes outside the UK need to carefully consider agency choice before making the step towards the purchasing through a specific agent. The reason is that recently some agencies trading with properties outside the UK have committed a series of irregularities when delivering properties to UK people.
A particular example is the an agency operating both in Bulgaria and in the UK through an independent agent. The sales related to the agency’s activity are estimated to some several million pounds. The agency has collected money from customers for homes in Bulgaria - the construction site was still unfinished when the money was collected where the idea was that completion would be finished by September 2010. Purchasers paid the respective deposits but the completion of the property is still delayed and no flats would be delivered for at least two more years. People cannot thus withdraw their deposits and some customers have given up to 50 000 pounds of deposit.
The best advice to expats is to look for properties through agents dealing with ready residential places. Thus paying a deposit would be exposed to risks of scam and the customer would be actually able to review, visit and comment on the state of the building. Decision is thus easily made and does not include paying for future services, which, as indicated by financial advisers is quite hazardous.
Truly, buying used property might incur some expenses like the services of carpenters but nevertheless it guarantees a completion of a purchase and security in terms of property to be obtained for the sum of money a customer is paying.
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