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Nairaland Forum / Nairaland / General / Properties / 4 Ways To Identify Real Estate Scam (142 Views)
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4 Ways To Identify Real Estate Scam by Tanimola26: 5:41pm On Sep 17, 2021 |
There are a lot of pressure that come with investing in real estate, whether you are renting, and buying real estate properties. And in a competitive real estate market, there’s always that quick urge to act quickly so you don’t miss out. Unfortunately, Scammer take advantage of tis, to trick potential real estate investors into buying properties that does not exist or give false information and documents about the properties. Fortunately, there are ways to identify real estate scams. By learning the warning signs, you will be better prepared to protect yourself from real estate scammers. Ways to identify real estate scammers The best way to protect yourself from being a victim of real estate scam is to know the early warning sins. First time real estate investors who are not as experienced with real estate business processes. The following are some of te early sins 1. Unrealistic guarantees Everybody wants a good return on their investment irrespective of what type of investment it is. But when a real estate agents(realtor) starts to promise you something that is too good to be true, then you should be very careful. 2. Pressure to act immediately Real estate scammers usually put a lot of pressure on their victims to act and make payment almost immediately without given their victims enough time to do due diligence. They often use scarcity to make you belief that you could lose out if you don’t act fast. If you notice this. JAPA 3. Lack of proper documentation If you’re looking invest in real estate and the agent can’t present the necessary paperwork, that is a big red flag. Some of tis scammers will promise to send over proper documentation, like a deed, only after the buyer makes monetary commitment. 4. Payment Before Viewing Property Real agent scammers are always after your money, they trick you into making financial commitment even before viewing the property you are trying to secure. If you see this signs, there’s ere possibility you are dealing with a scammer. Visit h[url]ttps://propertyplace.com.ng/[/url] to view verified real estate properties, you can also follow their instagram handle @mypropertyplace |
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