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| Buying Property Abroad Thnking of buying a house in Spain or somewhere else abroad? Post about your questions, answers, and experiences here. |
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09-26-2008, 11:43 PM
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Worried my Dad might be getting ripped off!
Would really appreciate any advice on the following situation -
My Dad and his partner have agreed to purchase a home in Turkey. Having paid a £500 deposit several months ago, he is ready to pay the balance in the next 2 weeks. My concern is that rather than paying the balance directly to the seller he is transferring the money into a Turkish friend's account ( the friend is married to his step daughter and lives in the UK ) who is then going to transfer the funds on to the vendor. When I asked my Dad why he is doing this he said that the Turkish friend explained that its financially benficial all round if he ( the Turk ) buys the house in his name and signs the deeds then after 3 months will then sign the house over to my Dad. I could be overreacting but it sounds suspicious. Im also worried that even if the Turkish friend does sign the house back to my Dad he could face a form of capial gains tax? I would really appreciate any advice on this subject. Many thanks. 
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09-27-2008, 12:40 PM
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Turkish deal
I would say that you should trust your instincts on this matter, make sure your Dad has guarantees in writing from the seller as to the deal. It would be far better for him to lose the deposit than to pay the balance (which I presume is substantial) and lose everything. Suggest he tells the seller that he is not happy with this deal and that he wants to pay him directly, also speak to a solicitor
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10-05-2008, 06:29 PM
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I think you're right to be suspicious - this is a totally dumb way to go about buying property abroad.
That's not so much to say that the friend may abscond with the property - but there's a sheer unprofessionalism in all of this by the sounds of this.
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11-05-2008, 10:31 AM
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I would be careful when it comes to those kind of matters after all you could loose allot.
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11-14-2008, 07:36 PM
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yes, this is strange.
well, if your dad bought the property from a developer he should be paying him the balance, and also the rest of the amounts paid should have gone to the developer. Where is he buying the property? Does he has the private purchase contract on his name? Let me know, please. Laura.
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