Four Signs You Need to Know to Avoid Property Scam

Property buying and selling is a tricky task as risk factor is always involved in it to some extent. If not more, one has to go through this phase at least once in his lifetime. Doesn’t matter how intelligent and well versed you are with property related matters, you always feel a bit hesitant for a while making biggest financial transaction of your life. Unfortunately, fraudulent activities and scams are reported in property dealing affairs on daily basis and still people are becoming victims at the hands of such elements. We are presenting a few alerts (sings) which beware you of a possible scam, so all buyers and sellers must need to know it.

Someone Requesting Personal Details

Never ever provide your personal information like banking details, credit card verifications and any other data during public dealing. Say a big NO if someone asks about these details as this is the most common tactic used by property scammers to fool public.

Buyer/Seller Out of Country

Whenever you are close to agree on a property deal, make sure the other person is in the country. He should be available to visit the site alongside you and finalizing the financial matters. Otherwise there can be something fishy about the deal and you should not pay any amount in advance to such individuals.

Reluctance on Verification of Property Documents

If you feel that other person is reluctant on verification of his property documents, then there must be something dubious. Proceed further only after crosschecking and verification of documents by concerned registered authorities, no matter how long it gets. Property scammers are expert in producing such fake documents and deceive public easily, so document verification is a much needed step to prevent property scams.

Paying Online for Property Buying, Selling, Rental Ads

Not every real estate website for property buying and selling is authentic and people get fooled for the shortcuts and greed for money. While renting, buying or selling property online, don’t pay even a penny to the website (if paid) in advance until and unless you identify the buyer/seller and the deal is struck.

Apart from above mentioned points, you always need services of a trustable real estate agency for property related matters.

For more information please keep visiting Universal Property Network (UPN). Have a free consultation with our professionally trained realtors whenever you needed.