Warning: Property fraudsters
Dear citizens of Antigua and Barbuda,
I write this letter to help protect us against fraud and theft, particularly as many of us aspire to own properties. This letter serves as a guideline to ensure that both buyers and sellers are safeguarded during transactions.
Firstly, always seek the guidance of a reputable lawyer. The lawyer and their team will vet the agreement, ensuring it is mutually beneficial and preparing all necessary documents.
Another crucial factor to consider is the use of an escrow account. An escrow agreement is widely utilized in real estate transactions and acts as a safeguard for both the buyer and the seller.
The escrow account will hold the funds until all necessary transactions are completed, transferring the money to the seller according to your contractual agreement.
If either the seller or buyer is unwilling to utilize this avenue, I would advise against proceeding with the transaction, as this may indicate a lack of trustworthiness and could potentially leave either party shortchanged.
Author anonymous
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There is a part of this article missing which is to confirm that the realtor and sellers lawyer actually represent the seller. There are realtors and lawyers in Antigua setting up escrow accounts and doing sale purchase agreements and the seller has not engaged or authorized them to conduct business on their behalf. A lot more to be careful of besides what is written above.
My next letter in November will be a guideline on the proper way to use a toilet including when and when not to flush.
Author anonymous
I am happy this person write it. I felt this woman who approached me in the bank in Antigua to sell land wasn’t legitimate. I just felt something wasn’t right. I truly believe she did not own the land/real property.