It’s quite unfortunate that so many people are not as careful as they should be when going into real estate transactions. Many a time, this may be due to the excitement of being a home or landowner or perhaps the ignorance of what to look out for when purchasing any property.
No one wants to throw away a massive sum of money to fraudsters, so it is very necessary to be guided because these dubious guys come in the form of real estate professionals.
These top 5 Red flags are signs to watch out for when going into any Real Estate investment.
Legal Checks are Avoided
Real estate transactions are legal transactions and as such, they require legal documents to back them up. For any real estate transaction to be termed complete, there are some essential documents required. It is a big red flag when a real estate agent insists that certain documents like survey plan, deed of assignment e.t.c, is irrelevant. If whoever you are buying from is trying to avoid providing these documents beware.
If for whatever reasons you need to purchase a property, avoid buying from agents that don’t have any reference and are not verified. Being able to verify who you are buying from will help you ensure that you are dealing with a real person. This is why it is best to buy from registered real estate development companies such as Christal Homes.
No Clear Evidence of Payment
Once you have made your payment, demand for a clearly spelt out receipt that indicates the following:
- confirmation of payment
- date of payment
- Amount Paid
- Name of the receiver
this gives you something to show as evidence in cases of legal issues. The moment when getting a receipt is becoming an issue, take it up!
One major bad sign that you are about to go into making the wrong investment is when the seller or real estate agent is avoiding one on one meetings or discussions and only accommodating phone calls. An agent under no circumstance should be too busy to meet you face to face. The real estate agent should be able to make out time for questions and answers regarding the properties for sale or rent.
No Room for Inspection
You should make out time to inspect the property personally to ensure you are not being scammed. This is a process that shouldn’t be skipped. You deserve the opportunity to see where you will be investing your money.
Make a smart safe investment today, when you buy any of our real estate developments. All our estates have good title documents, good location, affordable, free from government acquisition and any encumbrance.
For more enquiries, contact 08083429457