Monday, July 04, 2011

Beware of scammers!

There are many foreigners who bought what they thought their dream-home in the sun, only to end up with nothing and lost all their savings! This is a sad but a true fact! Even though taking the scammers to court they have lost their case! This is not an easy situation to cope with. Therefore there are some things to think about before buying.

First of all please remember that it is the responsibility of the buyer to check up on the property! Even if you are buying from a real estate agency it is still your responsibility, unless you have stated in a notarised contract what the real estate should do.

Then what is there to think about? Here are some of it:

  • Does the property have any debts connected to it
  • Does the seller have any debts that are related to the property or that could be in case of a law-suite
  • Is the title deed genuine, i.e. does it belong to the seller or are there others involved
  • Is the building legally built and does the Tapu, title deed, state true facts
  • Is the property in accordance to what have been advertised
And remember, it is the buyers market! No need to rush!


No comments: