What is Peace of mind ?
When you choose to buy a property with Thistle Worldwide you can do so in the knowledge that every property featured on our site has been subjected to whatts known as a due diligence process. Most reputable agents do carry some level of research but few can match our exacting requirements to make sure that every off plan project we recommend has all the necessary licences and permits, thereby minimising your risk of purchasing property overseas.
How is this carried out?
A team of independent lawyers conduct this thorough investigation on our behalf, leaving no stone unturned as to the authenticity of the project which typically involves owners, developers, and all contractual documents that our clients will subsequently sign during the purchase process.
This long and often drawn out process which can take more than one month to investigate means that you will not suffer the depressing experience of learning that your property is not fully legal, will not be built, and that any monies paid could be lost.
Our systems ensure that none of this will happen to you and so far to date, we have achieved a 100% success rate on delivery of properties bought by our clients.
Our Diligence Requirements - without the legal jargon
Checks made to see if there are debts on the land, and if so what terms are applicable.
- Certificate of land ownership
Proof that the developer owns the land.
- Building license / visa / permission
Documentation proving that the developer has the right to build. This varies from country to country, from formal local government document to Master developer approval letter.
This is the contract you would sign upon purchase of off plan property. This document will be reviewed both by Thistle Worldwide staff and legal professionals and amendments made to satisfy our clients' safety if necessary.
- Method of payment to developer
Confirming percentages required and where the payment is made eg. Not to the Cayman Islands.
If applicable the documentation will be reviewed and checks made on the bank in question.
If applicable, this is a lawyers holding account where clients funds are held, usually until specific points in the build process are achieved, when funds will then be released to the developer (this is now a legal requirement for all new developments being released in Dubai).
If applicable this will be reviewed by Thistle Worldwide and legal experts to define exactly how the guarantee operates.
We understand that buying a property that may not be finished until two years in the future, can be a daunting prospect. However, with these checks in place, and the fact that our Client Services Department will be there with you every step of the way, you can purchase with confidence knowing that your investment through us will be the most secure in the whole overseas property industry.
