Tuesday, March 3, 2009

Rightmove Warn of Scam

Hello to you all.

I thought this press release, detailing a current scam, was relevant to everyone owning a property overseas - I have included the article below.

Rightmove has warned owners of homes overseas to be wary of companies offering to buy their properties. The property portal has become aware that some companies are approaching owners currently selling their properties and are claiming to be associated with Rightmove's overseas division, Rightmove Overseas.

Rightmove Overseas deals directly with property advertisers and has no relationships with companies that purchase property from vendors, the online property advertiser has said. Rightmove currently has relationships with just two companies: holidaylettings.co.uk, which is part of the Rightmove Group, and The Rightmove Abroad.

Neither of these two companies would offer to buy property abroad.Head of overseas at Rightmove, Robin Wilson, said: "We gather that certain companies are contacting vendors, usually via another website they are advertising on. They imply they are commercially associated with Rightmove and tell the vendor that they represent large investors who can make an offer on the property."The companies operate a scheme, which Wilson describes as being "too good to be true": "

They explain that they already have the funds available to purchase the property outright, but the vendor must pay a security bond, typically one per cent of the property value, in order to release a 10 per cent deposit."Rightmove Overseas is warning its customers to be aware of potential scams.

The company is particularly concerned that in this case the Rightmove name is being used to imply credibility. Wilson clarified Rightmove's stance on overseas property purchases: "Rightmove Overseas only markets properties for sale from our advertisers. We don't get involved in any transactions with companies offering to buy overseas properties and are categorically not engaged with, intending to acquire or looking to partner with anyone operating like this."Anyone who receives a communication from companies claiming to be affiliated with Rightmove should check that emails come from an address ending in @Rightmove.co.uk.

If consumers have any suspicions they should contact Rightmove Overseas.

Source: HolidayLettings

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