Most common frauds that you should aware of before buying property

Buying a property where in you are investing your lifetime saving, any casual approach of yours can cost you heavy. You must keep your senses active to avoid any scam that can occur with you.

Here are some most common frauds that you should be aware of before buying property:

Bogus promises

In order to grab customers the seller entice the buyer offering him high discounts while advertising the estate, manifesting it to be the most affordable one and then gradually unfolding schemes to take money once they have captivated the buyers.

You must restrain yourselves being attracted towards such fraud sellers and be part of such dealings.

Planned delay with intention of coercive cancellation

Builders taking money from buyers, raising fund for his project intentionally delays the project so that he can sell it to new buyers willing to pay a price higher than the price fixed by his early buyers. Sometimes builders also invest the fund partly in two projects, constructing it parallelly which leads to delay.

Scams associated with title

It is very crucial to have a proper check of all the essential documents of the property preventing to get into trap of fraud sellers, who does it more specifically in order to get rid of disputed land.

Hasty sell

The owner is if at haste to sell you the property then there is something fishy about it. You can become a little more alert. You should revisit all the documents of the land for avoiding falling prey to his trap.

Intrusion

There are people who actively operate over other's land and encroaches over it. The property that falls under it is:

• Unclaimed estates
• Disputed estate
• Estates having foreign owners.

Single property  sold to more than one buyer

Sellers sometimes sell a single unit of property to two buyers with intention to screw double profit out of it. Setting both the buyers to engage into a legal fight to claim over the estate. You can restrain yourselves from this kind of forgery if you are more conscious.

Detained approval

Sometimes sellers sell you the estate keeping you in dark regarding the information of delayed connection of water and electricity. This makes you helpless to put your estate into use without necessary facilities available.

Points you must keep in mind to avoid falling victim of fraud sellers:

• Always prefer written promises, verbal promises can be fake, and you can never claim over it, but written form of promises can be produced any time you feel its requirement.
• In case you are someone to whom legal documents appear greek. It’s always a wise idea to take advice, of legal advisor.
• Do a thorough research, don't just depend on information told to you by your seller. Your research will help you not to fall an easy prey of wrong people.
• You can always take help of people who have recently purchased land, this will add on to your knowledge.

Land dispute cases in India go on from generation to generation. The files remain pending and unchecked. The money you have invested in buying the property draws into drain. In case, you are engaging in legal process to grab it up, it will cost you heavy. You pass your entire age whirling around the court , it's better to be alert  while buying the estate and don't take it in the easy way.

In order to get a better advice, you can always approach 360plot.com in process of buying property.

Tags Property verification, Real estate frauds, Real estate verifications, Common frauds in Real estate

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