Real Estate is something that gives an edge for buying and selling of properties say land (cultivated or uncultivated), building etc. for industry, commercial or residential purpose. In this tech-savvy era, where everything happens online including Real Estate buying and selling, which made buyers and sellers meet over the internet. You can find lot of Real Estate Classifieds in newspapers and social media platforms.
When don’t use online real-estate services cautiously you are likely to get caught in a scam. Sometimes a fake agent morphs a legitimate ad and makes use of the true information regarding the Property and advertise it in classified sites for his benefit. And such scammers portray themselves as the estate agent, manager or landlord himself to draw the investors or buyers. The buyer should always conduct a good survey and must be equipped with knowledge regarding the use of online real-estate.
The following part suggests you some ways for identifying frauds happening in online real-estates:
- When you look for a property which fulfills all your requirement and you decide to meet the prospective landlord or seller to crack the deal. But when you go for meeting and you are told that the property you looked is not available, whereas there is another one. When this situation arises tell them you are not interested. This maybe a fraudulent act to trap you in a more expensive one or in an undesirable property.
- While searching properties online you may come across words and descriptions like low financing cost, higher returns on investments, urgent etc. Do not fall prey on these words as these catchy words are methods to pool in buyers immediately.
- When a seller or any landlord you deal with, asks you to give money only in the form of cash make sure you don’t deal with him. Because credit cards, cheques and other form of payments could be traced easily in case you are scammed.
- Properly check ads, contact details and also take a look at the company’s websites given by the seller’s or property owners. If you feel that there is something wrong, then don’t go to deal with such properties.
- When the prospective seller denies to meet you in person or offers you to meet at a place other than the place of property i.e. off-site. It would be better to sign-off from the deal than to fall for any fraudulent act.
Thereby it largely depends on the prospective investor to be diligent while entering into a contract with any real-estate agent or the landlord himself. The buyer should not only check the property but also check the person he is dealing with. Make sure that the agent is licensed and go for a well-known agency company as any person can impersonate to be an agent. You can rely on your online real-estate service but you should also verify and be attentive to the things you furnish. Online real-estates offers you a way to choose different kinds of property at large scale and gives wider scope for buyer and seller to satisfy their individual aspirations.
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