Overseas property professionals have been responding positively to the new International Developer Information Pack, or IDIP. The new resource aimed at consumers and agents alike can take the risk out of buying property abroad by checking the credentials of any overseas developer or development. This is in stark contrast to the UK’s government’s introduction of a Home Information Packs which have been met by confusion and disarray
Nicholas Marr, the CEO of Homesgofast.com, an international property website, notes that the IDIP will soon be a regular part of overseas investment. “IDIP provides buyers a convenient and effective way to check the background of overseas property developers and their prospective development. Many of our overseas property investors have indicated that they will use the product in future purchases. It will be only a matter of time when agents and savvy buyers will not want to risk investing without an IDIP it is set to turn the overseas property industry on its head.”
Advisors from BuyAssociation who now work with the UK’s biggest property website Rightmove.co.uk by providing impartial resource for overseas property buyers have indicated that this service can aid purchasers of off-plan property. Felicity Quigley of Buy Association says:
“As a service, the IDIP provides peace of mind that the most important aspect of a property purchase is taken care of by qualified legal professionals who have extensive knowledge of their local markets as well as a UK presence. For those investors looking to be more ‘hands off’ with their off plan investment, an independent due diligence assessment will save them valuable time and effort whilst ensuring that the property they are buying is legally sound.”
More about BuyAssociation
This product is managed by Live Organisation an appointed representative of First Title Insurance plc which is authorised and regulated by the UK Financial Services Authority. First Title Group is a wholly owned subsidiary of The First American Corporation; they not only have the backing of the world’s largest provider of business information, but over 115 years experience in property matters.
More details about IDIP here
