Bad experience

Discussion in 'Portugal Property' started by finles, Oct 2, 2007.

  1. finles

    finles New Member

    Hi

    We are considering buying a property in the Algarve but having had a bad experience in Cyprus are a bit warey buying off plan.
    Have seen a company were intrested in dealing with (Realestate.pt)
    All appears to be ok just wondering if anyone has had any dealings with them and their opion.

    Regards

    Finles
     
  2. DAVID-S

    DAVID-S New Member

    try orbial.pt we are based in Albufeira, need any help i have been living here 18 years
    & have 3 apartments rented out all year round.
     
  3. Soares22

    Soares22 New Member

    try atlantic estates in vilamoura!
     
  4. lena green

    lena green New Member

    Hi Finles,

    I had the same problem .............in Cyprus, ended up with Cybarco. Good choice as they always came back very regularly to snag, in fact most weeks were snagging weeks ! After two years they gave up, we sold up.

    You might like to contact me as I know I have what you want, whether its right for you is another matter.

    Drop me a line off board, lets talk.
     
  5. If I can help I will -without strings,although I am an agent.
    I've been here since 1980.
    Jim.
    917 238 517
     
  6. goisproperty

    goisproperty New Member

    •Only work with estate agents licensed with the Instituto da Construção e do Imobiliário (INCI), in possession of an Identity Card and a genuine and valid licence number. (Some agents have been known to falsify a licence number.) You should always ask to see this number. If in any doubt, take a note of the number and contact INCI who will check it out for you.

    Websites that state they are licensed companies are not necessarily so – look for their licence number and check it with INCI.
     
  7. lena green

    lena green New Member

    .......................and don't forget to cross everyone's palm with silver to get first class service. No silver, no service.......whooooooooooooppps
     
  8. goisproperty

    goisproperty New Member

    Unfortunately there has been a culture in Portugal in recent years of unscrupulous property dealing, that has led to some Portuguese sellers, and buyers from overseas, being cheated of considerable sums of money. The activities of these unlicensed agents have now been made illegal, although they continue to operate and prey on the unwary. If you do business with such agents, and things go wrong, you have no redress under Portuguese law.
     
  9. Lysos

    Lysos New Member

    finles,

    You are approaching this from the wrong angle; it's nort about finding a company you want to deal with - it's about finding the right property for you at a fair price. (In today's market don't even think about off plan, go for a resale & always use an independent solicitor).
     
  10. goisproperty

    goisproperty New Member

    In Portugal, as you are probably aware, there have been a number of problems in the property market, the most significant being non-registered agents that are not restricted on the level of commission they charge. If I could only offer one word of advice it would be this: before you cross anybody's palm with silver, is check they are INCI registered, and have an AMI number.
    Property for sale in the Gis region of Central Portugal
     
  11. aLGARVE18

    aLGARVE18 New Member

    Licnesed Agents

    It is a shame that you had a bad experience in Cyprus and can understand your being warey. However if you use a licensed agent with registered premises there is no reason why you should have another bad experience as these people have their license to protect and have a reputation to keep.

    I cannot advice you on realestate.pt but you need to know that for all registered estate agents it is a legal requirement to have their AMI license number clearly visible on everything including their website.
     
    Last edited by a moderator: Mar 7, 2015
  12. RichardMYP

    RichardMYP New Member

    Oh dear Lena

    Cynical or what ! The first whiff or an expected backhander should send anyone in the opposite direction.
     
  13. villasluz

    villasluz New Member

    Finles,

    just follow the advices of the other members of this forum:

    1) Check if the company with whom you are dealing has a valid license (INCI number)
    2) Ask the sales consultant with whom you are dealing for his own license number (each sales consultant working for a real estate agency must have his own license - it is a kind of identity card from INCI with the picture of the consultant and the expiry date)
    3) Choose an excellent solicitor
    4) Ask your solicitor to do a survey on the property by an engineer

    Folllowing these 4 points you are always on the right side of your investment in Portugal.

    Antonio
     
  14. helpplease

    helpplease New Member

    Portugal is lovely but yes you need to take care to work with the right agents... in my case the agents were great but now I want to sell because my euro mortgage is costing me too much but can't seem to find a buyer in today's market.....
     
  15. JWoody

    JWoody New Member

    I do agree with all of the comments in this forum about finding the right agent, but as someone quite rightly pointed out why spend all your time looking for an agent. Research is key, research everything you can possibly get your hands on. Do not even go and waste your time and the agents before you know everything you feel that you need to know.

    There are a few agents out there that operate without licences but I also have had experiences with agents that do have licences but have no clue about property. It is relatevaly easy to get a licence to sell property in Portugal, as you can go and sit in lessons for a short time and learn how to pass it. I know many of people that have done so.

    You can also find agents that mearly deal with the developers or the major agents, they do not have the so called licence but the people they introduce you to and finally sell the property do. So dont be too wary about all this with the agents. FInd the propertys you like then find an agent that sells it, if you like their approach, buy it. I can only help advise on great service and many ahppy purchases through a couple of companies, one being Move Portugal and the other being the UK agent Dream Homes Portugal.

    Cheers
    Jason
     
  16. Somabonus

    Somabonus Banned

    Hi! OFF-PLAN acquisitions are very good if you are hot in the hurry! But the problem is when you do not know how to be commercial! Let them know they can have your money but build a stage payment plan with penalty clauses! If they do not fullfill it you can get your money in double! But find the best place and project! look upon the area now but foresee what is it going to be in 10 or 20 years! Maybe then you can swap it with 2 properties somewhere else! Be criative! Design your future life! Design!
     
  17. villasluz

    villasluz New Member

    Jason,

    there are a few things that I don`t understand...???!!!

    You wrote:
    1) Do not worry about all this with agents
    2) It is relatevaly easy to get a licence to sell property in Portugal
    3) You can also find agents that mearly deal with the developers or the major agents, they do not have the so called licence but the people they introduce you to and finally sell the property do.
    4) Research is key, research is everything

    Allow me to answer these 4 very important points:
    1) I think everybody who desire to invest an amount of money (whatever type of amount) in a property has worked for it very hard, so YES - he has to care about with whom, or through whom he will invest this hardly earned money. A licensed real estate agency is licensed by the Government (not by the neighbor) - beside the fact that the agency must have the necessary insurance for whatever goes wrong.
    2) Do you really know how "easy" it is to get and maintain a real estate license here in Portugal - Do you know what you are talking about?
    3) Are you trying to tell to the readers of this forum that they should buy through "illegal agents" (which aren`t agents at all and never have been), if the final seller is O.K. with it?
    What shall they do if they have problems afterwards?
    4) If you make today a property search through the Internet, I can guarantee you that 50% of the properties which are advertised, were already sold 1 month -2 years ago - so which type of research are you writing about - which type of research is actually the one which is credible?
    The only type of research which is credible is through a real estate agency - they will certainly not show you properties which are already sold for months or years.
     
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