One of the easiest and most user-friendly ways to look for properties for investment is listings on online property portals. Listings focus on all aspects, such as market price in an area and the prevalent configurations, and provide a gamut of choices that help interested home buyers zero down on a property for purchase. Listings help property sellers or people who want to lease their property reach a huge client base.
However, a serious issue is faced by property portals in the form of fake listings. For a person who is looking to invest in property, these can act as a deterrent as the loss is huge. It is a good idea to evaluate the listings on a property portal before interacting with the owner.
Check this guide to learn about fake listings and how to detect them.
Check how to identify fake property papers?
Property listed at less than market price
Anything too good to be true must be checked. If you see a property listed for a price that is way less than the prevailing market price, be careful. People may sell their properties in distress at less than the market value. However, it is a good idea to be careful and examine every aspect of such a listing before committing to the seller.
Ambiguous description and pictures
Property listings provide a detailed description of the property to cover all aspects that could attract home buyers. If the description added to the listing is ambiguous or incomplete, the seller may not be very keen on the sale or it could be a fake listing. Check if the description is in sync with the photos provided. If the listing does not have photos or has stock pictures then, by all means, it is a fake listing.
Fake URLs
If the contact information has the URL of a website that seems to be fake or incorrect, you are looking at a fake listing. A fake website will have zero to very little information about any project. Do not click on any links on such websites. You may end up being the victim of a fraud.
Persistent seller
If you contact a seller of a listing and he seems to be persistent about the sale, giving you little time to decide or citing some offer, there is a chance that this can be a fake listing. No seller should push you into deciding on the first meeting as this involves huge money and a lot of thinking.
Payments for evaluating the property
If the seller who has listed the property demands money from you to view the property, it is a fake listing.
Housing.com POV
While online portals are apt for registering your listing, do remember to check listings only on reputed property portals as these weed away fake listings periodically. It is in the interest of sellers to list their properties on reputed sites.
FAQs
What are fake listings?
Listings which do not give the right information and are supported by photos that do not seem to belong to the property are known as fake listings.
How to check if property papers are genuine?
Check if the paper shown to you has all the details. Get it verified by a lawyer who is independent of the seller.
How can you say if a property document is forged?
If the information is mismatched or incorrect, they may be forged property documents.
If you are a victim of fake listings, what should you do?
Notify the authorities, lodge a complaint and take legal help.
Can an agent ask for money to show a property?
No. It is illegal for an agent to ask for money to show a property.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
