Obelisk International Highlights the Importance of Due Diligence in Overseas Property Investment
Overseas property ownership is now easier and safer for investors thanks to Obelisk International's investment news of their compulsory Due Diligence procedure simplifying the legal mine field that exists in many foreign jurisdictions.
London, UK (PRWEB) August 24, 2007 -- Due diligence is a fundamental requisite in the selection process of all recommended investment projects and forms the basis of Obelisk International's overall philosophy. Property purchase in a foreign country can be daunting for the purchaser, with inherent uncertainty derived from the lack of knowledge in local practices. For this reason, Obelisk International ensures that every project is afforded rigorous due diligence and attention to detail to ensure the investor is secure and satisfied in the knowledge that no stone has been left unturned.
By definition, due diligence serves to confirm all material facts regarding a sale, and in general, refers to the attention an investor should take before embarking on an overseas real estate investment. In the same way an audit is used to investigate financials and processes in order to safeguard companies against negligence within working practices, due diligence is there to act as a safety harness for the overseas property investor, and an offer to purchase an asset should be based on the outcome of the due diligence report (or DDR). The DDR of an off-plan purchase should always include the review of the developers legal and financial records plus anything else deemed material to the sale.
An interview with Gonçalo Angelo, Head of Legal Analysis and Studies Department, of Manzanares International Lawyers, confirmed 'It is crucial to turn to an advisor who can lead the prospective purchaser, and who can analyse the situation of the property to be acquired prior to the transaction. The professional, responsive, and reliable approach that Obelisk International extends to their meticulous due diligence property research also reflects in the high level performance provided to their clients. It is therefore strongly recommended to clients, as additional assurance and to prevent unnecessary risk, that the property investment company carry out a DDR prior to the release of the product, with the aim of assuring that it will be a smooth and safe transaction guided by the lawyer or advisor dealing with the purchase process. The report, provided by Obelisk International, allows the client to have a wider vision of the purchase operation, by providing substantial evidence and insight into the financial and legal viabilities of the potential investment opportunity, thus having a better approach to his/her investment opportunity.'
Assessment into the credibility of both the developer and the investment company, when entering into an overseas property investment, is paramount. Tim Van Dijk, Project Manager for Obelisk commented 'Obelisk International undertakes extensive research, analysis, market comparisons, and onsite inspections to ensure all of our projects presented to investors, have surpassed a robust selection process. Conducted by our highly-qualified professionals, scrutiny of the information reveals detailed, accurate insights into the development and developer. Through Obelisk International, clients are provided with exceptional property investment portfolios from a wide spectrum of strategic and rewarding possibilities.'
For more information on property investment opportunities within the emerging markets and to find out about Obelisk International's latest projects, contact: Obelisk International on 0808 1600670 or email info(at)obeliskinternational.com or visit our website http://www.obeliskinternational.com
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