Real estate scams, house searching is a dangerous pastime. Not to mention the plethora of con artists waiting to prey on unsuspecting buyers.
Have you ever been deceived by someone who claims to be a landlord but refuses to pick up the phone after sending you money? Have you ever been caught in one of these scams?
Below are Examples of Common Scams
Making a Decision in a Hurry
A con would usually act hurriedly, pressuring you to choose between buying and renting a home.
They persuade you that the house is in high demand and that transferring money is the only way to reserve it.
Property at a Low Cost
You can easily fall into the trap of buying cheap housing ASAP so you don’t lose it for another advantage. They always say, “If something sounds too good to be true, think twice.”
A property’s value does not depreciate over time. As a result, any property with ridiculously low prices should be looked at. Visit a property portal like buyrentkenya.com to get an idea of market values in the area you’re interested in.
Property documentation that isn’t real A title deed should be included with any property being sold. Without confirmation from a lawyer, don’t believe anyone who claims to have these documents.
Purchasing or Renting an Unseen Home
Although it may seem obvious, this is one of the most typical ways for people to lose money when searching for a property. Avoid making any purchases over the phone after seeing photos online.
Before negotiating a deal, you must personally inspect the property or have someone you trust do it for you.
Property agents can be highly persuasive, making it difficult to tell whether or not the offers are real. Request referrals from friends and family to ensure you pick a trustworthy agent. If you meet an agent who is not part of your escort, they will investigate the companies they work for and even visit their offices to make sure they are working legally.
Many people, like untrustworthy agents, are creating bogus property postings. Use caution when viewing these attributes on different platforms. It’s usually a good idea to double-check any information you find on the internet.