Some have been known even to hang around a prospective address sounding out neighbours about the area.

So why do so many throw all this common sense out the window when buying overseas?

Many, apparently, behave like a hyperactive kid in a sweetshop. They conduct the flimsiest research when splashing out six-figure sums on properties in countries they've barely heard of, let alone visited.

The anecdotal reports of Irish buyers are scary. Agents speak of people arriving into offices with tens of thousands burning a hole in their pockets desperate to purchase a property anywhere.

Concerns over the perils of property investment were heightened further by the collapse of the Michael Lynn empire recently. And while the overseas investment arm of his operation insisted that client funds are safe, investors in the scheme have wondered about the security of their investment.

Add in a couple of other recent scandals involving solicitors and property and you get a none-too-pleasant aroma emanating from what should be our most respectable profession.

Ironically, Irish buyers of overseas property have consistently been told that they should get a solicitor . . . and an Irish one at that. Solicitor Tom McGrath, an expert in foreign property, admits that the recent spate of scandals is "highly embarrassing".

"Unfortunately that's life. You get dodgy goings-on everywhere. But I would like to think that the vast majority of my profession are straight, " he says.

However, he still insists that overseas property buyers should source a good solicitor on the ground where they are buying, and the best way to do that is through an Irish firm, such as his own, that specialises in this area.

If you source your own lawyer make sure they are English speaking, he advises.

Also ensure that the developer is kosher, that there are no hidden surcharges and that planning permissions and licences are in order.

In some instances you can even get the extra security of a bank guarantee.

Sourcing an independent and reputable surveyor is vital.

McGrath says that whichever solicitor you choose should be able to do this for you.

Stay away from trouble spots

"I WOULDN'T steer clear of anywhere but I'd be extra cautious in Bulgaria, " says Tom McGrath.

The latest issue of You and Your Money magazine is a little more outspoken. In a recent article on potential trouble spots, it pinpoints Thailand, Budapest (above), Bulgaria, northern Cyprus, South Africa and the south coast of Spain.

McGrath, however, is more upbeat about Spain, despite a recent slump in the market and multiple cases of planning corruption that have lead to fears of whole complexes being torn down near Marbella.

He says the planning scandal was probably the "best thing that could have happened" as it led to a huge clean up of corruption in the area.

880 for overseas due diligence

PROPERTY investment website Myoverseasproperty. ie has launched a new service that claims to make buying abroad a little more secure.

The IDIP (International Developer Information Pack) is designed to "offer a branded due diligence service for Irish overseas property professionals".

"The overseas property sector is unregulated so this type of product is long overdue, " says Reon Ferreira, director of Myoverseasproperty. ie.

Ferreira says the IDIP allows investors to see legal documentation, the ownership details of the developer and the development, together with financial reports, before they make the final decision to invest in a project.

However, the service doesn't exactly come cheap. Prices start at 880 (excluding VAT, if applicable, and disbursements).

THE MAIN SCAMS

VAT SCAM

YOU have lined up what you believe is a bargain price for a property, including VAT. But when you go to sign the final contract, the original price suddenly becomes "VAT exclusive". The vendor is trying it on, but try proving it in court. In Bulgarian.

SITTING TENANT SCAM

One Irish investor was assured of a sitting tenant when she bought an apartment in an outlying part of Romania. There was one . . . the former owner. It then transpired that he had no intention of paying rent.

A very long and complicated legal battle ensued . . . in Romanian . . . during which the former owner enjoyed rentfree accommodation at the Irish buyer's expense.

Even well-regulated markets such as Germany are not above scamming investors. In another case, a vendor got someone literally off the street to move into the apartment. Hey presto! There was a sitting tenant, which automatically upped the price.

In extreme cases, vendors can get a homeless person to move in make it appear as if there's a sitting tenant and the new purchaser gets embroiled in an eviction nightmare.

Because 60% of Germans are renters, they exert considerable political influence that has resulted in tough tenancy laws. If you want to kick someone out you have to go to an independent tribunal which takes at least a year.

FAKE DEEDS

As several Irish banks and investors in Turkish property found out recently, property ownership is not always what it seems. Care is needed to spot fake deeds and multiple mortgages.

PADDY TAX

How do you know that you're not paying 10,000 or 20,000 over the odds simply because the reputation of the Celtic Tiger has preceded you? McGrath denies that this is a major problem but it is something to watch out for.

DOUBLE TAXATION

Wherever you buy, make sure there is a double taxation agreement in place or you will have to cough up twice . . . in Ireland and abroad.

Useful contacts Tom McGrath & Associates, 37 Upper Mount Street, Dublin 2 Tel: O1-6610707