How to avoid chances of fraud in Real Estate
Real estate business has become one of the main industry of Pakistan. There are major transactions of properties occurs in the market. High net worth parties belong to this business in shape of investors, buyers or sellers. For any transation we always prepare documentation or sale deeds, that is common practice of market. Even then we have to face some deceptive people in the market.
There are few points or reasons by which one may face big loss or fraud act:
- When you try to be rich over the night
- When you attract by greed offered by someone in the market
- When you are careless in documentation
- When you don’t care about the varification of documents from society office
- When you don’t cross check the market price at the time of deal. (sale /purchase)
- When you finalise the deal without having your research
- When you don’t visit the location of your property
- When you finalise deal in first ever meeting
- When you don’t want to know the hidden secret of cheapest property being offered to you
Well, now let me inform you the best recommended way of deal in Bahria Town Karachi or any other housing society. So that you may make safe deal in real estate.
There are following steps to proceed:
- Take you time and complete your online research
- Make your funds ready before signing an agreement
- Meet atleast 3 to 4 agents in the market and take their advise
- Visit the location of particular property you are going to buy or sell
- Demand documents at the time of deal when you are going to make it final
- Cross check the rates from market
- Meet office owner or manager atleast
- Don’t give token amount without official receipts or acknowledgment
- Ask your agent to provide you sale agreement or other proofs to present to FBR or your bank
- Always sign the documents infront of bahria sales staff
- Avoid cash payments, always pay in shape of pay orders or in company accounts
- Ask your concerns from society representatives to make sure the trasfer process have done
- When you have done all the things satisfactorily pay decided commission or service chardes to your agent