Phoenix Magazine 01.07

SEALING THE DEAL
The Phoenix Magazine
Jan 2007

DESPITE the incredible amount of money that is being invested in overseas property, there is no industry regulatory body for estate agents selling these developments. While most of these agencies are very respectable there are inevitably a few bad apples and individuals have lost money in the past.

For whatever reason, people who would never consider purchasing in Ireland without legal advice suddenly found themselves signing away large sums of money to unknown developers.

Six years ago, solicitor Tom McGrath set up his own law firm, Tom McGrath & Associates, and since then business has gone from strength to strength by helping people make safe and secure investments. Initially he started an association with a Spanish firm as he has personal Spanish connections (his wife is Spanish and he speaks the language). McGrath found that the numbers of individuals needing professional services and advice was increasing constantly. He now has associates in law firms all around the world and he is always traveling to ensure that his clients will have the most reputable and professional local service. His clients come from all walks of life and are all treated with the same level of professional service and courtesy, whether it be for a small apartment in Spain, a hotel in Turkey or a villa in Portugal. He is currently helping English clients purchase in Cape Verde and Irish clients in the Dominican Republic, as well as in Poland. Germany and elsewhere. Clients can also be reassured that no premium is charged on the legal fees and that the law firms share the fees. There is no double charge.

When purchasing an overseas property it is essential that all aspects of the purchase be professionally examined and that the developer is established as trustworthy and respectable. It is always advantageous to have these matters looked at by a local lawyer. According to McGrath: "My job is to ensure that people get what they are paying for, without any problems cropping up in the future and I have made associations with the most reputable and distinguished law firms around the world to do so.