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Just when many analysts had come to terms with the 3.5% rise in retail sales in May and the fact this did not seem correct, June has seen a fall of 3.9% in sales – the worst fall in 22 years. The...
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Wednesday 16th January 2008
Anyone considering an overseas property purchase should make it a priority to get legal advice first, a property expert has advised.
According to the Association of International Property Professionals (AIPP), close to £20 billion was spent by UK buyers in foreign property markets last year.
However, despite horror stories in the press about home purchases being turned into nightmares by red tape or regulations, many buyers are still not seeking legal advice, Miki Reader of www.carolvordermanoverseshomes.com said.
He said: "Most people don't understand that they ought to get a lawyer. We would recommend that people get a lawyer on the very first day that they're thinking about the process."
The only exception to the rule is those investing in property in Florida where "a different system altogether" is in operation, he added.
"In Florida, you actually don't need a lawyer. If you want a lawyer then get a lawyer, but in Florida it works with title insurance schemes. So you pay for title insurances. It's a totally different scheme."
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