Beware of property conman operating in Spain, by Mark St\u00fccklin.<\/p>\n
Reputable local agents warn that a fraudster is offering bargain properties in Spain to trick the unsuspecting out of their deposits. The fraudster is offering ridiculously cheap property to trick victims into handing over deposits that will never be seen again.<\/p>\n
The fraudster is someone who used to work for a local real estate agent, then legged it to Thailand with the client database, and is now hammering the mailing list with astounding bargains that don\u2019t exist.<\/p>\n
Apparently so far three clients have paid him approximately \u20ac22.000 in deposits. Once he gets his hands on the money, the fraudster no longer responds.<\/p>\n
An example of how he operates : he is hawking a villa for sale in Las Ramblas on the Costa Blanca \u2013 actual price \u20ac400.000 \u2013 as a bank repo with pool for just \u20ac99.994, which can be secured with a \u20ac10.000 deposit if you move fast and transfer him the money. Apparently the police have been informed and legal action is underway.<\/p>\n
As reputable local agents point out : \u201cif something looks to good to be true, it probably is.\u201d<\/p>\n
They also offer the following advice : Ensure the agent has an established office. | Check for AIPP membership. | Do your research. If a property is at an unbelievable price, why is it still for sale? | Do your research on the agent as well.<\/p>\n
The Spanish property market is plagued with incompetent clowns, cowboys, and crooks. Be careful who you deal with.<\/p>\n