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Protect Yourself From Real Estate Scams
The real estate market is a huge platform of brokers, middlemen, and agents who mostly are professionals, but there are also some immoral people who be-fool the hapless investors just to make profit. Real Estate Scam has become one of the biggest problem in this industry. It is always essential to work with a professional real estate agent to avoid such real estate blunders.
While you are renting a house or buying a new one, it is important to identify the most common real estate scams you may face. When searching any property online, clients should take caution and should not reply to fraud emails requests if it looks suspicious, immoral or illegal. Just because someone has a professional license of real estate agent, it doesn’t mean that he is honest. His license may be fake.
Examples of some most common type of scams are: if broker sends you an email saying they buy your house without even seeing it, if the broker emails you to deposit funds before even seeing your home, if the person is from an other country and asking you to buy a house. Being a smart investor, it is your responsibility to check all the things before buying a property.
Below is the infographic which enlighten the most common warning sings of real estate scams and also provide few ways you can protect yourself from being scammed.
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REAL ESTATE SCAMS
WARNING SIGNS AND TIPS TO PROTECT YOURSELF
India is a hub for real estate industry with the extensive range of property seekers, but here we also have some scammers who are ready to attack by their offensive tricks.
Know how to rescue yourself from such real estate scammers.
Warning Signs of Real Estate Scams
- Unknown Asking For Personal And Bank Account Information.
- Email or Call From Unknown Asking Your Property Details.
- Only Name and Mobile Information As Identity.
- Email Demanding Documents Or Payment Submission.
- Showcase Of Property With Abnormal Rates.
- Agent/Dealer/Broker/Owner Selling Property Without Essential Documents.
MOST COMMON REAL ESTATE SCAMS
FAKE RENTAL SCAM
- Rent a vacant property in the absence of property owner who is living abroad or outside town.
- Scammers publish the fake real estate advertisement in classified ads using information and photos describing property that has been “scraped” from legitimate ads.
- Scammers pose as homeowners and use fake documents to transfer property into the owner’s name. Then take the cash and leave the homeowner liable for repayments after getting the new mortgage against the property.
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Tips to Save Yourself from Real Estate Scams
- Evaluate The Background of Property Broker/Agent/Owner.
- Rely On Genuine And 100% Authentic Real Estate Portal.
- Ask For License And Recognition From Real Estate Agent.
- Ensure Real Estate Is Legitimate.
- Examine The Property Documents Before Stepping Further.
PROTECT YOURSELF FROM REAL ESTATE FRAUDULENCE BE A SMART BUYER!
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