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Originally Posted by yorkie
We have decided not to get involved in this project, as we are not interested in problems and will not purchase anthing without a title.
What I do not get is nearly all the agents, including some large well know companies have these properties listed. Surely this is not good publicity for the company long term, they make some commission but for that they lose all the resect of the customer that gets ripped off plus many other potential clients that are linked to that customer.
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This is a good point and well made Yorkie. I have a real estate office and we only list property where we have seen some evidence of ownership, this could be title or sales contract. This of course is not PROOF of ownership so we strongly recommend reputable lawyers to check everything out before ANY money changes hands. To secure the property you want you can pay a deposit with a "promise of sale" but the lawyer should hold the deposit until they are satisfied with all the requirements laid out in the promise of sale contract ie proof of ownership, clear title etc.