Various Ways In Which You Can Be Cheated While Dealing In Real Estate
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Various Ways In Which You Can Be Cheated While Dealing In Real Estate

Buying a real estate is a dream for most when it comes to residential buying and most of those people don’t have any sort of experience in Property buying. Not all, but still it has happened that sellers try to cheat buyers with fraud documents, fake registry, and many other ways. So it is better to check how you can be cheated and make sure you take a professional like a realtor with you to ensure safe and legit transit of ownership of property.

Documents Could be Fake: This is the most common way to cheat a buyer. In most of the fraudulent cases, it was found that the buyer has been provided with fake documents for the property being sold. In this case, the buyer has to fight for the money lost for years and it is very unfortunate that conversion of a positive decision in such cases is pretty low. Thus, it is advisable to get the documents referred from Sub Registrar office.

Double Mortgage Chances: This has happened many times that the seller does a fraudulent of taking a loan for same property twice from two banks, this kind of cases the owner of the property is blamed so be careful before buying such property. Again, if you want to avoid these kinds of cheating, all the particulars of ownership should get verified from Sub-Registrar office.

Chances for General Power of Attorney: There are cases when the real owner has provided the general power of attorney to more than one person, in such cases if you know such details in the later part then it is very tough to prove such fraudulent. You need to be sure and for such you need to meet the real owner or other parties and it is highly advisable to take help of professional.

More than One Registration: You should be aware of these kinds of cheating also. You would approach a seller or real estate broker with an intention to buy a property. After paying some considerable amount, the registration might be done in your name. Later, when you are intending to sell the home due to any personal issues, you might come to know that there are some other people who are claiming the ownership. This would happen when the owner is selling the same house to different persons without the knowledge of each other. If you are the first buyer, in this case, you must fight legally in order to prove your ownership.

Encroachments are also Possible: There are chances that the seller has encroached into his/her neighbor’s property by creating/violating a lay out. Seller may register this encroached layout in your name after getting a considerable amount of money from you. Some also do use more than allotted part of the road for the fence and other purposes, thus if the back check is done you would be responsible. This would make it impossible for you to claim your money back if your seller has escaped from the scene.

Dubious Agreements May is Given: There are chances that you are given with the dubious agreements. In such cases seller wrongly states the size of the property and demands more money. In such cases, it is impossible to regain money if the seller has fled the scene. You must be really very cautious about these kinds of cheating done by your seller.

Thus, it is really very important to verify each and every criterion with the sub-registrar in order to make a right choice. Also, nowadays it is becoming essential to make some local enquiry about the home and the owner in order to be on the safer side. By doing these, you are more likely to avoid the fraudulence that is being tried over you by the seller or real estate agent.


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