What Are Some Common Real Estate Scams Out There?

[Good-Guy]

Real Estate Business is one of the most attractive business out there because it is a kind of business that allows a person to make profits eventually. There are many people who get involved ion the real estate business but many people do not realize that real estate business is not that straightforward. There are many difficulties and complexities involved with the real estate business. For example, many people might get involved with a real estate agent who might be a cheater and he may misguide you for his own benefits. Other than that, many people get fooled by agents when it comes to documentation.

This is a very common problem in my country. Fake documentation is a common thing in many countries. Sometimes, many people even have to brine the authorities to construct illegal encroachments and this might also lead to problems for many people. They usually prepare fake documents and try to fool people. There are many other kinds of real estate scams out there. So, what steps could be taken to stop these scams? Have you ever been a victim of such kind of scams? How did you deal with the scammers? Please share your experience with us.

 

[Alexandoy]

I consider it a scam when a real estate developer had received money from the buyers and the promised property was not finished on the promised time. There is one real estate developer hee who has a property in our village that is a townhouse compound. It was said that the townhouses were sold some 3 years ago with the buyers paying the monthly installments for that period even before the construction of the building. But the buyers heaved a sigh of relief when they received a notice that they can move to the townhouse that they had bought.

However, in another project of the same developer there were many clients who went to a tv program to complain. Most of them have fully paid the housing package but after 3 years there was nothing to see in the site which has only the grass on the vacant land. The developer reasoned with a financial problem. Now who suffers?