3 Red Flags to Help You Spot Property Scams:
|Identify & Avoid Property Scams|
An unusually attractive offer should make you extra cautious and prompt you to cross-check details. Here are three red flags you should watch out for before putting in your money.
Red Flag 1 : Sounds Too Good to be True -
An inherent characteristic of a scam is that it will promise unreal returns or “exciting” offers. Instead of getting excited about it, become extra careful.
Red Flat 2 : Builder is in a Tearing Hurry -
Is your builder in a hurry to close the deal? A developer or builder who has intentions to cheat will show an urgency to sell the property and will encourage you to make the down payment right away.
Red Flag 3 : No Clarity on Documentation -
In a genuine transaction, you will have to sign a set of documents, including title deeds, agreement of sale and so on to legitimatize the deal. Fraudsters, however, will urge you to go ahead and send them the money without signing any paperwork.
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