anyone heard of investment property group they say they have a buyer for my house

Running_Horse

What a surprise. The initially sceptical brand new posters return to say their lawyers have checked out the contracts to say they are OK. Next they'll be saying how much they made and what a wonderful company IPG is. Meanwhile any contrary opinion is dismissed as abuse, in the same grammar and spelling of the IPG website. Funny that.

Oldcynic

MobileSaver wrote: »

Their website identifies three entities so I'd be interested in who your contracts are with, is it "Investment Property Group", "Invest P G Ltd", "The Letting Agent Ltd" or yet another party?

Or Property Investment Group? This appears on one of their documents, ironically one that has Investment Property Group at the top. Strange that they do not even seem to know what their company is called.

I do think PIG is a better acronym, though!

maninthestreet

inforeq wrote: »

The upshot of this is that quite a few people have been approached by IPG (we all advertised on-line) for someone to come and view our properties. We were then offered a lower than market price for the properties. In our case we were asked for fees upfront, which we declined, we are now paying fees on completion as you would do with an estate agent. There is a signed document by IPG that their buyer is going to pay £xyz for the property and another signed document by ourselves and IPG that we will pay their fees on completion. There is also a 180 day time period in which completion must take place by. Now what the flipping hell is wrong with that?

The abuse which has taken place on here is diabolical along with certain assumptions about posters - before you all start with me, again, I have no connections other than those outlined with IPG. There is no need to post the name of the company as "PIG", obviously some people have nothing better to do with their time. Its my belief this thread was started by "betty boooooop" looking for definate info on the company, which has not been received, a few others joined and each time they have been jumped on by other posters and abused ..... basically if we dont do/say what you are wanting us to do then we are stupid people and are going to get what is coming to us.

No more posts will be added by myself apart from to say that I really wish people would stick to the thread and give definate info about the company wether it is positive/negative, which was asked to start with, not just assumptions. No one has actually heard of the company, which could be a good thing, also could be a bad thing.

How can IPG, or whatever they call themselves, guarantee the vendor that a third party i.e the buyer, will buy their property for a specific price?? How can they even guarantee that the prospective buyer will buy the property at all? What penalty clauses are in these 'contracts' if the buyer either drops their offer price or pulls out of the purchase altogether? If the answer is 'none', what is there to stop the buyer from taking one of those options?

poppysarah

inforeq wrote: »

Unless you have something factually correct then please refrain from commenting.

Erm.

Factually correct: I think you're mad to part with money in advance for a scheme like this.

Factually correct: I think you're all on a hiding to nothing.

Factually correct: If you don't want comments then don't post on a forum designed to allow people to post comments.

hth.

MobileSaver

inforeq wrote: »

Now what the flipping hell is wrong with that?

There is so much wrong with that even on the scant details you've supplied.

Anyone being asked for fees up front should immediately be highly suspicious that the too good to be true deal is actually a scam. The fact that you say you got them to change the terms is irrelevant, scammers will just try to get the money out of unsuspecting victims further down the road.

No-one here except you has seen the "price document" but on the face of it it sounds ridiculous that an agent is guaranteeing a price will be paid for a property before any searches, valuations or even a check on who has title have been done.

What are the ramifications if the 180 day time period is not met?

inforeq wrote: »

The abuse which has taken place on here is diabolical ... There is no need to post the name of the company as "PIG",

I find it interesting that the only people to claim "abuse" are the new posters trying to convince everyone that this is all legit. I've seen no abuse, just savvy posters who are very sceptical and don't want other moneysavers getting ripped off.

I also find it very interesting that both you and bettyboooop seem reluctant to disclose exactly who your contracts are with. The upshot being that no-one here even knows which company you are dealing with or referring to.

inforeq wrote: »

I really wish people would stick to the thread and give definate info about the company wether it is positive/negative, ... No one has actually heard of the company, ... could be a bad thing.

The problem with that approach is that by then it is too late and people have already lost £1200 if all of this turns out to be too good to be true as many believe.

GDB2222

inforeq wrote: »

We were then offered a lower than market price for the properties. In our case we were asked for fees upfront, which we declined, we are now paying fees on completion as you would do with an estate agent. There is a signed document by IPG that their buyer is going to pay £xyz for the property and another signed document by ourselves and IPG that we will pay their fees on completion. There is also a 180 day time period in which completion must take place by. Now what the flipping hell is wrong with that?

That's a very one-sided contract, actually. The buyer has 6 months to do nothing at all, if he wishes, and if he walks away you get nothing. If on the other hand you get fed up waiting, you have to pay IPG £1200.

If property prices go up significantly over the next 6 months, you have to stick with the lower price or pay them £1200. You've effectively given them an option on your property for nothing. Why would you do that?

Without seeing the contract, that's all I can think of that's seriously wrong with the arrangement you describe. It's certainly not an arrangement that I would dream of agreeing to.

At least one other person has reported money being paid over and then the company losing interest in them. If these are scammers, and let's keep an open mind, I don't think they are limiting themselves to a single scam. That's why different people are reporting different approaches.

Personally, I just wouldn't bother with trying to work out exactly what IPG are up to (if anything!), I'd just steer well clear of them.

As for you Inforeq, I think you're probably genuine. Just thought I'd say that, as you're getting upset by the other cynics here. Why you are getting suckered into the terrible deal you described above is beyond me.

iB1

inforeq wrote: »

As for the spelling and grammar of the web-site, I cannot find any errors.

From http://investpg.co.uk

The Investment Property Group which has a wealth of experiance, boasts an unrivalled reputation as a leader in the Property Investment sector

60% of clients wish to purchase in Dubia after market termoil

With a serge in demand for Investment property in this region we have a range of services avalible to both buyers and sellers.

60% of our clients now wish to buy in Dubai due to a serge in discounted property Sales.

BitterAndTwisted

Not only is "Mr Jones" illiterate it appears that some of his happy "clients" are too.

I could have cobbled together a more convincing-looking site than that in an hour or two.

Everything about this outfit screams "scam"

Running_Horse

inforeq wrote: »

Unless you have something factually correct to say then please refrain from commenting.

I will post anything I like within the rules of this website.

The last person to tell me I couldn't was JMFoster who had his membership revoked just before you came on the scene. Your last few posts are in the exact same posting style as his; post after post (six in all) without reply.

I am now convinced you and JMFoster are one and the same. I am now convinced you are directly connected with this company. I am now convinced this is a scam. If you don't like my opinion then tough. Other potential customers/victims can read this discussion and make up their own minds.

MobileSaver

BitterAndTwisted wrote: »

I could have cobbled together a more convincing-looking site than that in an hour or two.

Everything about this outfit screams "scam"

You generally find that scammers are nowhere near as clever as they think they are - I guess if they did have any intelligence they wouldn't need to make money using lies and deceit.

Fortunately their stupidity is the reason they eventually get found out - every single weekend the Sunday papers report another scammer being sent down so it's always good to see that what goes around comes around.