Property fraud is not a new phenomenon. Cases of house purchase fraud are increasing day by day.
So, what makes victims susceptible to deception? Here are some factors affecting property fraud victims:
Lack of knowledge and skills. Many victims lack the knowledge and skills to handle property transactions legally.
They don’t know how to verify the authenticity of documents, certificates, permits, or other property-related papers.
They also don’t know how to negotiate, make payments, or resolve disputes that may arise.
Lack of vigilance and caution. Many victims are not vigilant or cautious when conducting property transactions. They easily believe sweet promises, enticing promotions, or fake testimonials presented by scammers.
They don’t conduct checks or surveys on the properties they intend to buy or rent. They also don’t ask for official proof or written guarantees from the seller or developer.
Lack of professional assistance. Many victims do not seek professional help when conducting property transactions. They do not use the services of consultants, notaries, or licensed and experienced real estate agents.
They think that using professional services will incur additional costs or be troublesome. However, using professional services provides legal protection and security in property transactions.
Prevention and Mitigation of Property Fraud
Property fraud is one of the most damaging and distressing crimes. However, there’s no need to fear or despair. There are several ways to prevent and mitigate property fraud, including:
Increasing knowledge and skills. We must enhance our knowledge and skills about the legal process of buying and selling property.
We must know how to verify the authenticity of documents, certificates, permits, or other property-related papers.
We must also know how to negotiate, make payments, or resolve disputes that may arise. We can learn from various sources, such as books, the internet, seminars, or workshops.
Utilizing professional assistance. We must utilize professional help when conducting property transactions.
We must use the services of consultants, notaries, or licensed and experienced real estate agents. We must ensure that they have a good reputation and are trustworthy.
We must request official proof or written guarantees from the seller or developer. We must also seek legal assistance if problems or disputes arise.
Reporting property fraud. We must report any property fraud we experience or know about to the authorities.
We must keep all evidence, such as documents, certificates, receipts, photos, videos, or voice recordings related to property transactions.
We must provide complete and honest information about the chronology, modus operandi, and perpetrators of property fraud. We must be cooperative and patient during the investigation and prosecution process.
Property fraud is one of the most damaging and distressing crimes. Victims not only lose money but also hope, trust, and comfort.
Victims often face various problems, ranging from legal disputes, threats of violence, to psychological trauma.
However, there’s no need to fear or despair. We can prevent and mitigate property fraud by increasing knowledge and skills, enhancing vigilance and caution, utilizing professional assistance, and reporting property fraud.
By employing these methods, we can protect ourselves and our families from property fraud. We can also help eradicate property fraud and create a safe and comfortable environment for investment.
That’s all, Kisanak.