Four simple common sense precautions could have saved the property market

A certain melancholy has come over me. I find myself thinking back to when I first came here, so full of hope and so full of dreams. Circumstances, beyond my control have cured me of all my illusions. Now that got me to thinking, were they beyond anyone’s control? The answer is no.

The Constructors Union could and should have policed the building industry with tough rules on using experienced and qualified tradesmen. They should have set up a fund to bail out owners whose builders did not pass muster; the fund being mandatory contributions from all members. Membership should also be mandatory, if you are not a member, you DO NOT build.

common senseThe Estate Agents Union had new tougher laws imposed in 2008, do they police their members, do they insist on evidence that every member is carrying the necessary Indemnity Insurance and is 100,000TL cover enough? Do they chase off the rogue sellers who freelance and in doing so break all the rules and steal their income?

The Advocates; are they policed by their regulatory body? Why are they allowed to practise without having a ‘duty of care’? Whilst it is not illegal to act for the builder and the purchaser here, it is unethical and since many trained in the U.K., they know it is illegal there. As professionals why don’t they lobby for it to be made illegal? It should also be mandatory for Advocates to carry Professional Indemnity Insurance, they are human and therefore they can make mistakes.

The Land Registry; it is there that most mortgage scams could be stopped in their tracks. By charging the Bank or creditor a small fee, a land registry representative could visit sites before allowing a charge/injunction/court memorandum to be put on land. A cursory check could prevent mistakes. Often the Koçan will say it is just a field, when on inspection the Land Registry could find to the contrary, that in fact it is built on and people are living there having paid good money for the privilege and totally oblivious of the attempted fraud that is taking place.

Four simple common sense precautions but in my experience common sense is the most uncommon commodity on the planet.

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