Things to Identify Fraud Real Estate Dealers
Real estate transactions are very profitable. But there are many fraud real estate dealers who mercilessly cheat unfortunate customers. So it is very important to educate yourself about the fraudulent ways you may be subjected to when you are looking for land for sale in Ernakulam. So let us look into them:
Planning to buy luxury villas in Ernakulam is a lifelong investment. You need to take time and consider various factors before you purchase a real estate property. If a seller seems in a hurry to close the sales of the villa be aware. It is a warning sign to look out for fraud deals. However, it is also important to note some dealers may be selling their properties in a hurry due to some emergency situation.
Cheap Value of Property
Always keep in mind that real estate is an investment that gets true passage with time. No one sells their property for cheap rates that are lower than market value unless there are some issues related to the property. Either the suburbs are not safe or have any issues. Keep in mind to check every detail related to the land before you buy it.
The property documents are very important for owners to prove their ownership of the land or villa. You need to ensure that you examine these documents with the help of a lawyer before you spend your money on the same. Some sellers may forge property documents and cheat you. Some sellers are not genuine, evasive & unwilling to produce real documents that you need to stay away from.
The property is located in unregulated areas
Never buy properties in unregulated areas because of low rates. You need to invest in properties that have no risk of legal issues and enable you to dispose of the same in the future for better prices. You may not be able to find peace of mind if you buy properties that are unregulated locations & result in losing the property.
Bank rejects the loan request
If the bank rejects home loans on the property, make sure you do not buy the property because a bank only offers loans on properties after having a thorough check of the technical and legal aspects of the property. This could be used as a clear indication that you should make the deal.
Excuses on-site visit
If a property seller tries to stop you from visiting sites before you purchase the property at your convenience, it is a bad sign. It is important to ensure that you are dealing with genuine sellers by making several visits to the property and get in touch with the neighbors.
Demand for huge token money
If the sellers or real estate brokers are asking for huge token money to block properties you wish to buy, stay away from such transactions. There are many fraud sellers who scheme such money looting schemes in the name of the business and cheat innocent customers.
There are many cases where property builders delay projects & disappearing builders are a very common occurrence in real estate fraud. Some builders delay the project completion until they have a large requisite number of buyers. Yet a few divert the token money from one project to another which is very risky. So this may result in you waiting for a long time to own the property.
Deviation from Approved Plans
Sometimes the completed projects take major deviations from the approved plans based on which you invested in the property. When this happens, the buyers end up compromising on many facilities like common amenities, spaces, promised luxuries, and even on core project amenities like dedicated parking space.
Find the right kind of agents or property websites to help you buy residential plots for sale in Kochi or any other place in Kochi. Be aware and check before you invest!!