Quote:
Originally Posted by davidm
Hello everyone. (sorry i miss spelled a few words in the original)
I WAS PERSONALLY in Brazil last week to look at several plots which I had reserved in Coral Beach and I feel I want to write to leave information of my experience.
I was shown the land of Coral Beach and it looked good. Although it was a very fast visit I had no chance to look at the surrounding areas.
I had been given a 22 page Due Diligence pack but it was all in Portuguese, so I had no idea what it said which I thought was strange. I was introduced to a Solicitor, Rui Ferias who I found out not only acted for the original owner of the land but also the developer! I was expected to use this Solicitor, the same Solicitor for all 3 of us? This is a very dangerous way to do things. How can he act as my independent legal representative as he works for the Developer and the registered land owner. A Conflict of interest surely. I also googled his name and saw a interesting report of an American bloke who was not happy with him either.
So I then got independent advice from my own solicitor who reported back on the due diligence and he informed me it was incomplete and really didn’t offer any security. On instructions from my new independent Solicitor I asked does this project have a Environmental Semace license I was told "NO." This apparently was "arriving any day" but i had the impression of being told anything to get me off the sent.
I did not buy from Venturis International and I have asked for a full refund, I will post the outcome as and when I get the refund. My advise, get your own Solicitor, ask a lot of questions, and go and see the surrounding area independently. I ended up buying in Cumbuco so it was not a waste of time after all.
Good luck.
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Either the developer, if he is interested in marketing to foreigners, or the agent(s), should translate any and all documents pertinent to approvals, contracts of buy and sell, etc, when marketing to foreigners.
And naturally a developer and/or agent should welcome the fact that potential clients are using an independant lawyer. If a developer and/or agent attempts to pressure someone to use their lawyer, in many instances that is the first tell-tale sign that everything may not be the way they're portraying it.