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FOPDAC - Federation of Overseas Property Developers, Agents and Consultants (1248F)

FOPDAC_CEI_LogoThe 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.
 
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