3 ways to detect the house you are buying is really not for sale

shakirudeen taiwo

February 1, 2018 7:57 AM

When you sense of any of these, please know that you are about to lose your money.

We often come across buildings that bear the words, ‘This house is not for sale’. It normally leaves us wondering why some homeowners would have that scribbled across their building for no apparent reason.

Well, there is a reason, and that reason is simply that Real-estate scammers are real. They pose as Landlords or Real-estate agents and try to sell a house that doesn’t belong to them or to which they have no affiliation.

Home-seekers usually fall for these scams mainly because they are ignorant of the modus operandi of the scammers. Below are three ways of identifying a house that is not for sale.

1. You don’t need an agreement

An agreement is a binding document that shows consent between the parties involved in the home buying or renting process. Without an agreement, there might as well be no transaction.

When your supposed landlord/agent tells you that you don’t need a contract before you make payments, you may probably want to consider looking for another Landlord/Agent.

Hiring a Lawyer or a professional real estate agent will save you the trouble of undue diligence.

2. Rushed sale

Buying or renting a building usually involves huge financial investment, and it is pertinent for home-seekers to take their time in verifying the documents and all other information required for a house-sale or rent.

Any Landlord/Agent who appears to rush you through the process and concerns more about your payment is probably a scammer. Take your time to go through all necessary documents and ensure that they are genuine.

3. Payment cash first

Real-estate scammers will try to get you to pay almost immediately; sometimes they ask their victims to pay upfront even before they see the house.

If you live outside the country, you are most susceptible to fall prey to this scam. It is best to have someone you trust check out the building before you make a financial commitment.

This post was first published on Meqasa.com

shakirudeen taiwo