research essential on off plan property in brazil
News Posted On: 17 August 2009
Overseas property buyers have been advised to conduct their own due-diligence before buying off plan property in Brazil after a Spanish developer was arrested for conducting a property scam in the country.
Well known overseas property expert Liam Bailey writes:
"But all those people who are now very upset and out of pocket could have saved themselves all this misery by carrying out their own lengths of due-diligence before putting their hands in their pockets."
Liam then went on to describe in detail the steps that buyers should take to research an off plan property purchase, including if possible multiple trips to the development before making payments. He also said that buyers should take advantage of their holding the cash and negotiate favourable payment terms.
Les Calvert, director of overseas property portal Property Abroad concurred with the report, he said:
"We always advise our visitors that research is an essential second step (after creating a property shortlist) when buying an off plan property, but not just in Brazil, anywhere including developed markets like the UK and US. Apart from that Liam was pretty much on the money."
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