How does one investigate a London based estate agent before buying overseas property through them? How do I know that the agent/agency is not a scam? Should I look for professional designations or organizations, or search a government licensing authority? If they are legit, what government authority would license them? Should I ask for references?
I don't mean to be paranoid, but I have read of scam artists in other countries taking people's life savings and running off with it. I don't think it would happen with a London based agent, but all I have is a phone number and an address. If I purchase, business will be conducted by phone and e-mail, without me ever meeting the agent or going to his office.
Any help would be appreciated. Thanks.
Full Version: Investigate Before Investing
If its feasible, is there any chance you can go to their offices in London to see if they are running a legit business?
Alternatively, post up the name of the company and im sure posters on here will tell you about them, if they have used them before.
Alternatively, post up the name of the company and im sure posters on here will tell you about them, if they have used them before.
QUOTE (rumpola @ May 7 2008, 08:27 AM) 
If its feasible, is there any chance you can go to their offices in London to see if they are running a legit business?
Alternatively, post up the name of the company and im sure posters on here will tell you about them, if they have used them before.
Alternatively, post up the name of the company and im sure posters on here will tell you about them, if they have used them before.
I have spoken to several companies, but I am interested in what these have to offer. If you have any good or bad feedback on them or other similiar companies, please let me know. Thanks.
Relocate Bulgaria LTD www.relocatebulgaria.com
Seven Continents Investments http://www.7cinvest.com
I've not heard anything bad about Seven Continents Investments. They are regularly approached by the media to comment when there's a change that will affect our economy. (I've heard them commenting on the radio when driving in to work, but couldn't be sure which station it was on.)
Bulgaria isn't an area that interests me, so cann't help with the other company. (There will be plenty of forced sales n Bulgaria over the next couple of years, so if you want a typical Sunny Beach or ski property you may be better waiting.)
Bulgaria isn't an area that interests me, so cann't help with the other company. (There will be plenty of forced sales n Bulgaria over the next couple of years, so if you want a typical Sunny Beach or ski property you may be better waiting.)
QUOTE (james7 @ May 7 2008, 03:15 AM)
How does one investigate a London based estate agent before buying overseas property through them? How do I know that the agent/agency is not a scam? Should I look for professional designations or organizations, or search a government licensing authority? If they are legit, what government authority would license them? Should I ask for references?
I don't mean to be paranoid, but I have read of scam artists in other countries taking people's life savings and running off with it. I don't think it would happen with a London based agent, but all I have is a phone number and an address. If I purchase, business will be conducted by phone and e-mail, without me ever meeting the agent or going to his office.
Any help would be appreciated. Thanks.
I don't mean to be paranoid, but I have read of scam artists in other countries taking people's life savings and running off with it. I don't think it would happen with a London based agent, but all I have is a phone number and an address. If I purchase, business will be conducted by phone and e-mail, without me ever meeting the agent or going to his office.
Any help would be appreciated. Thanks.
Who in their right mind would hand over vast sums of money to an "agent" who only deals by phone /email to buy property anywhere let alone Bulgaria?
Have you actually seen the property? If so who showed you it?
And what does your solicitor think you should do?
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