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FOPDAC - Federation of Overseas Property Developers, Agents and
Consultants (1248F)
 The Federation of Overseas Property Developers,
Agents and Consultants was established in 1973 to unite those
agents, developers and specialist consultants active in the
international property markets whose common aim is to conduct their
activities in a manner which seeks to protect the interests of
those who have decided to purchase, or sell, a property overseas.
Membership of the Federation is restricted to companies or
individuals whose probity is beyond reasonable question. The
individual principals must have the experience and professional
expertise to meet the strict criteria set in the Federation's Code
of Ethics. The Committee of the Federation and its members provide
a valuable reservoir of many cumulative years of experience in
international property. FOPDAC is affiliated to the European
Confederation of Real Estate Agents (Confédération
Européenne de l'Immobilier).
Selling Property Abroad?
The importance of accurate valuation and knowledge of the market
cannot be overstated if you wish to succeed in finding a buyer. All
too often a vendor can lose out either by failing to sell because
the price is too high or by failing to achieve the best price
through asking too little. Today's buyers are more sophisticated
and better informed than they used to be and it takes considerable
negotiating skills to achieve sales. FOPDAC members are experts in
their chosen fields and can advise you on matters relating to the
sale of your property and will offer a comprehensive service to
attract potential buyers.
Buying Property Abroad?
Many thousands of Britons have bought and own property in many
parts of Europe and further a field. Even so, it is a big step to
take and you need to ensure that you have the best advice
available. As there is no statutory control over who can set up in
the overseas property business it remains risky simply choosing one
of the many advertisers from the pages of newspapers and magazines.
You can reduce the risks substantially by dealing only with a
company which is a member of FOPDAC.
The Standards Demanded
A summary of FOPDAC's Code of Ethics will best convey what is
demanded of all members: -
- Members shall make honesty and
integrity the standard in all their dealings with clients and
customers. They shall avoid misleading property descriptions,
concealment of pertinent information and exaggerations in
advertising. They shall not market property for specific purposes
if that property is not accessible and usable for such
purposes.
- Members shall comply with all
financial and legal obligations relating to their transactions,
their clients or customers.
- Members shall use their best
endeavours to encourage developments with due consideration for
open space and proper environmental controls.
- Where Federation members accept
clients' monies for payment for land or property, they must
maintain a legally separate Clients Account which must be properly
conducted.
- Members shall report in writing
any violation of these bylaws, whether their own or of others,
whether members or not, to the Committee.
- Should the Federation receive a
complaint that a member has not acted in accordance with the Code
of Ethics then the Committee should decide that a member is in
default and he subsequently fails to rectify the matter as
directed, then the member would be liable to immediate
expulsion.
- All agents must recommend to a
prospective purchaser that they seek independent legal advice in
order to effect their purchase. Such recommendation will be given
before any legally binding contract is entered into. If the
prospective purchaser asks the agent for the name of a person to
provide independent legal advice the agent should provide a choice
of names.
Why leave it to chance?
You
have a wide and free choice, your decisions are important because
they concern your own and your family's pleasure and the investment
of a significant sum of money.
FOPDAC
(Federation of Overseas Property Developers, Agents and
Consultants) has now been amalgamated with NAEA. All future
activity and membership of FOPDAC will be under the NAEA
International Division Incorporating FOPDAC. We were a member of
FODAC prior to this merger... more >>>
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FEDERATION OF OVERSEAS PROPERTY DEVELOPERS, AGENTS AND
CONSULTANTS
Suite 2, 17 Alpine Road, Hove, East Sussex BN3 5HG, United
Kingdom
Tel: ++44 (0)870
3501223 Fax: ++44 (0)208
9410202 |
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