Over the couple of decades the real estate business has peaked to new horizons. The business of the real estate has seen many ups and downs during this time duration but still in those ups and downs the real estate business has turned to become the most expensive and healthy investment market of the world. When we talk globally, the real estate business is growing by every day but still in the low economy countries it shows variation according to the economic conditions of the country, but stills in those counties it easily manages to sustain a healthy business. The real estate business has grown so much due to the factor of heavy growth and heavy source of income, compared to other small and medium business the real estate business can be termed as a Luxury Business.
There is a very heavy cash flow in the real estate segment. This cash flow becomes the reason for the growth of the real estate firms and real estate agents, but it also gets the attention of the Fraud organization that tends to earn money only by wrong means and by doing fraud. So times the new investors and the buyers land up dealing with them and as a result faces heavy losses, these losses are of the invested money, mortgaged land, commission, and purchased land. So, one should be alert when putting a heavy amount of money in the market and more over take the help of an experienced real estate investor or advisor, who can guide you to make a good profitable deal. Let us see some of the frauds done in the Real Estate market.
Frauds in the Real Estate Market:
- Title Fraud-
This is one of the most common examples of real estate frauds, here the defaulter makes the fake property papers and claims as if he or she is the true owner of the specific property. Once the defaulter gets a client for his claimed property all the trap starts and when the deal is made and the cash is transferred he gives a fake set of registered property papers and vanishes from the whole scene, after that when the client realizes it is too late to do anything. So the client can save himself from getting into a fraud by hiring a good and experienced real estate firm.
- Online Scams-
One of the trendiest scams in the real estate world if is frequent now a day’s is the online real estate scams. Use of technology is good but when putting a huge amount on the verge you need to be careful even when looking for the property physically. Never even book a property by just seeing and registering on the real estate websites. When you see the offers the contact the firm and after meeting go ahead with the deal.
- Don’t invest by seen others-
Being competitive is good but when it goes for a big amount you need to use your mind not the emotions. It is human nature that when we see people around us growing then we also try to achieves new goals, so never invest in real estate by seeing others investing. Think properly by consulting all your family members and then go ahead according to your need.