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What is the difference between a licensed and non-licensed agency? And what are the implications for me when purchasing property?

April 26, 2017agency implications licensed non-licensed Property purchasing

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What is the difference between a licensed and non-licensed agency? And what are the implications for me when purchasing property?

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A licensed agency is an agency that pays tax and therefore operates legally. You can check this by looking for offices that display a tax certificate outside their premises. Some non-licensed agencies operate from bars, restaurants, shops or even hotels. There have been examples of people purchasing from non-licensed agencies, and as a result have lost thousands of pounds and not ended up with a property.