What happens if something goes wrong
I
n life there can be few guarantees, and while the vast majority of international property transactions proceed without a hitch, problems can arise. The good news is that many of the pitfalls can be
avoided by following the steps in this guide, ensuring you have done your research, set out a realistic budget, and followed expert independent legal advice at every stage. But, unfortunately for some, the overseas dream can
be marred by cross-border disputes, dodgy builders or fl uctuating exchange rates meaning buyers can no longer afford their mortgage repayments. The sale of international property is a largely unregulated market with no qualifi cations or rules in many markets, so it’s
open to abuse and you could fi nd yourself wondering where to turn if things go wrong. But in the wake of the property boom then bust, we are no longer blissfully unaware that things can and do go wrong. We’ve all heard the many horror stories that have helped educate us. There is now more independent advice and guidance available, which in the long run will make the process of buying a property in another country better and safer for all concerned. And remember, if you appointed a qualifi ed, independent
lawyer from the word go, you’ll fi nd it comforting that if something does go wrong, they will be fully aware of your case and be ready and able to advise you.
48 AIPP CONSUMER GUIDE
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