People across the globe have been fooled and cheated by land scamsters. The misleading claims of real estate dealers lure people in buying property, which was never open to sale! If you are thinking of purchasing land, do the necessary homework beforehand to avoid falling victim to such land scams.
In these tough economic conditions, investing into real estate is considered to be a potent tool to attain financial stability. This is the reason why people find investment in real estate more reliable and are therefore ready to pour down their fortune to own a piece of land. As usual, this boom has also given birth to frauds and scams and a considerable amount of people have fallen victim to these swindlers.
So, if you are thinking of acquiring a plot, beware of these con artists. You can follow these simple steps to avoid being a victim;
Reputation Of The Real Estate Dealer
First look around to know about the reputation of the real estate dealer. You can also check with the firm itself to know about its experience in the field. Tell them to show you testimonials from previous clients. Find out whether the dealer you are thinking of hiring holds and participates in property exhibitions periodically. This will help you judge the goodwill of the firm or the dealer. You can also research on the amount of expertise or capability of the personnel associated with this firm. Last thing that counts to judge the reputation of the concern is whether the top brass of the firm are invited or rather asked to speak at social gatherings. These points will really help you to judge the reputation of the real estate dealer.
Visit The Realtors
Sometimes, due to work pressures, we often find it hard to manage time for a visit to the real estate dealer. And therefore we try to get the entire work done either through phone or online. Studies show that maximum land scams occur due to this very reason. Though you can start a negotiation online or through phone but you are advised to visit the realtor personally. Doing so will let you spend some time with the firm which will further educate you on their capabilities and previous work reports. Moreover, you can also ask them questions regarding the property.
When you acquire land, you also get inclined to several issues and tensions. To get rid of such complications you should make sure that the realtor or firm you are choosing offers guarantee that the land is indeed up for sale and they have the right to sell it. Go through the legal documents very carefully.
Verify All The Claims Made
Your watch out job starts when you visit the real estate dealer and are presented with a brochure. This brochure usually contain information about the plot as researched by the firm in due times. Studying them carefully will give you an idea whether the inputs are sketchy or true to sense. This also depicts transparency and honesty on the dealers’ part while assessing the property.
Mode of payment
Another thing you should do visiting the dealer, is to ask for a client account. This account comprises the details of the services the real estate dealer is going to provide along with the fee structure. You may have noticed the fact that some dealers ask for advance payment. Well, that is pretty reasonable, but the fact you need to check whether the dealer is asking for proportionately large amount or whether they are trying to pocket the money before the deal is concluded.
Another way to avoid a fraudulent land or dealer is to go for government lands. These lands are usually free of issues and are comparatively cheaper. Therefore if you have made up your mind to acquire a piece of land you are advised to purchase the government land for sale through trusted dealers so that you can avoid dealing with swindlers.