How to Buy Overseas Property Safely - Turkish Connextions

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We’re not here to sell property. We’re here to make sure it’s sold properly.
WELCOME Welcome to the AIPP’s Consumer Guide for 2013 - ‘How to Buy Overseas Property Safely’. The AIPP was set up at the beginning of 2006 by a group of like-minded people working in international property who shared a real desire to improve the professional standards and customer service of all companies involved in the business. We soon realised that one of the ways in which we could also support potential buyers was by providing relevant and first-hand knowledge on how to purchase property safely. So this Consumer Guide sets out to pass on invaluable buying information to anyone planning to buy a property overseas whether for retirement, as a second home or for investment. We know that buying a property overseas is one of life’s landmark moments and that some simple safeguards can be forgotten. Do remember that there are few, if any, guarantees when buying property, at home or overseas and please take steps to make sure you have covered the fundamentals. Do use an independent lawyer – one with only your interests at heart. Please do the finances; take into account the fact that mortgage rates can change; check on the rental returns promised and take expert advice on how fluctuating exchange rates will affect your payments and the cost of your property. Not all agents and developers belong to the AIPP and have signed up to a code of conduct. So ask the agent or developer you are buying from to provide references and do take them up and, if buying off-plan, make sure you are clear about how the development is being financed. Finally, bear in mind that if you are buying property overseas as an investment (as many people have done in recent years), big returns may come with significant risks. Be careful to assess the possible downsides to an investment property as well as the exciting investment figures promised should all go to plan. For every negative story about buying a property overseas, there are many, many more successful tales of happy buyers enjoying their purchase. Good luck and enjoy! Sue Ash Chair Association of International Property Professionals (AIPP) Association of International Property Professionals Ltd St Clements House, 27-28 Clements Lane, London EC4N 7AE Tel: +44 (0)20 3207 9095 Fax: +44 (0)20 3207 9182 Email: enquiries@aipp.org.uk Web: www.aipp.org.uk UK Company Number: 5677417. Copyright © 2011 by AIPP. All rights reserved. AIPP CONSUMER GUIDE 3
Page 1: HOW TO BUY OVERSEAS PROPERTY SAFELY
Page 5 and 6: SECTION 4 ABOUT THE AIPP 32 The rol
Page 7 and 8: Emerging or depressed markets can o
Page 9 and 10: WHAT TO BUY - RESALES S econd-hand,
Page 11 and 12: KNOW BEFORE YOU GO or some property
Page 13 and 14: INSPECTION TRIPS lthough not the ma
Page 15 and 16: via an agent, bear in mind that an
Page 17 and 18: ROLE OF THE DEVELOPER ove them or h
Page 19 and 20: t’s easy to get excited about buy
Page 21 and 22: unning costs/community charges you
Page 23 and 24: LEGAL: n the UK we routinely use a
Page 25 and 26: MORTGAGES n the current climate the
Page 27 and 28: KEEPING YOUR INVESTMENT SAFE INSURA
Page 29 and 30: SIPPS: BUYERS BEWARE ou may be vagu
Page 31 and 32: SECTION CHECKLIST: WHO’S WHO IN T
Page 33 and 34: 4 AIPP WHAT THE BADGE MEANS? We rec
Page 35 and 36: CODE OF CONDUCT n a largely unregul
Page 37 and 38: 4 AIPP AIPP AWARD WINNERS Best Smal
Page 39 and 40: ASAS Pan Gulf for Real Estate Inves
Page 41 and 42: E Ecoresorts sales limited Ecoresor
Page 43 and 44: Island Real Estate International SL
Page 45 and 46: Price Brown & Company Spain daphne@
Page 47 and 48: Tenerife Property Shop S L Spain br
Page 49 and 50: AIPP MEMBERS DIRECTORY FINANCE Exce
Page 51 and 52: For a full and updated list of AIPP

How to Buy Overseas Property Safely - Turkish Connextions

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