Scam Warning To Overseas Property Sellers
We’ve issued a statement today urging overseas vendors and people selling property overseas to be wary of companies offering to buy their properties and claiming to be associated with DSR Asset Management Ltd
We heard from several sources that a company is contacting vendors, usually via another website they are advertising on. They imply they are commercially associated with DSR Asset Management Ltd and tell the vendor that they represent large investors who can make an offer on the property. They explain that they already have the funds available to purchase the property outright, but the vendor must pay a security bond, typically 1% of the property value, in order to release a 10% deposit.
If it sounds too good to be true, it probably is and these schemes have no connection with DSR Asset Management Ltd.
DSR Asset Management deal directly with developers and property advertisers and have no relationships with companies that purchase property from vendors. Neither company would ever offer to buy property.
Scams in the overseas market have been around for a while, but what’s really disturbing in these recent cases, is that the DSR Asset Manangement Ltd (www.davidstanleyredfern.com) brand is apparently being used to imply credibility, through claims of an acquisition or partnership.
DSR Asset Management 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.
DSR Asset Management urges vendors to be aware of potential scams and suggests that anyone who receives a communication from parties claiming to be affiliated with DSR should check that emails come from an address that ends in ‘@davidstanleyredfern.com or dsrassetmanagement.com ‘. If consumers are in any way suspicious, they can email the team on scam(at)davidstanleyredfern.com
Buying and selling overseas isn’t risky as long as you don’t leave your common sense behind at the airport. You should only deal with reputable companies and always recommend to take independent legal advice before making any property purchase
