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Beware of Housing Scam!!

Beware of Housing Scam!!

Are you ready to buy a house? Beware of Housing Scam!

People are increasingly falling victim to property fraud because scammers are now using much more sophisticated tactics. We have collected some precautions for you can do to protect yourself. Be careful not to be defrauded before buying a house…

Attention for Sale by Owner

The most common scams include false advertisement, posing as a landlord and listing an empty or leased apartment as “for sale”, and they give you a dramatic reduction in the price of the property. The price of the house for sale by the owner is much lower than the peer price. In this method, the scammer asks a low deposit, tries to collect a deposit and then he gets lost by closing the mobile phone after receiving the deposit. Fake sellers collect so much money from people in a short time.

Another method can happen for homes legitimately for sale. The scammer poses as a fake landlord, advertising the home as for sale, but changing the contact information, transferring the property into their name using false documents. Scammers often target properties where there is no mortgage or the owner lives elsewhere.

Before buying, call the management company or building, tour the property, and watch the fundamentals of the market.






Fake Realtors Frauds People

In Turkey, there are 300 thousand unregistered real estate agents serving, also some people who pretend like a real estate agent, a fraud who wants to be a house owner. We suggest that people who want to buy a property should work with persons who have real estate agent authorization certificate. Also, they should prefer a real estate agent who has a real office instead of an internet page.

Before You Buy, Do Your Research

Be very careful of mail solicitations claiming great returns, no matter how good they look. Check out the company first. For example: does it have a proper street address and landline number? If a deal seems too good to be true, then it probably is.

·        How much is paid to the realtor when buying/selling a house?

The commission for people who buy the house from the realtor is 2 percent of the buyer side, and 2 percent of the seller side cannot exceed 4 percent in total. However, with the agreement made between the two, one side might pay a total of 4 percent.

Sources:

  1. Ev Almak İsteyenlere Sahte Emlakçı Uyarısı Geldi, Konut Dolandırıcılarına Dikkat! https://www.emlak365.com/emlak-haberleri/ev-almak-isteyenlere-sahte-emlakci-uyarisi-geldi-konut-dolandiricilarina-h22545.html.
  2. Ready to rent a home? Beware of these new scams. https://www.cnbc.com/2018/08/09/ready-to-rent-a-home-beware-of-these-new-scams.html.
  3. How to protect your property from fraud. https://hoa.org.uk/advice/guides-for-homeowners/i-am-managing-2/protect-property-fraud/.
  4. Photos from: Background photo created by freepik – www.freepik.com

Prepared by Zübeyde Bildirici Belkacemi
Read Also Where Can I Buy a Property In Istanbul?

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