HOW TO AVOID FRAUDULENT ACTIVITY WHILE BUYING PROPERTY IN PAKISTAN
The real estate market of Pakistan is at its peak of growth. But just like any other growing market, the Pakistani real estate business is facing the proliferation of unprofessional real estate agents and many fraudulent activities. Nowadays, fraudsters and scammers are constantly on the lookout for new ways to deceive people for personal gain.
Whether you want to buy or invest in property, Cloud Villas can help you act wisely to avoid scams and save yourself from property fraud. We’ll describe certain ways through which you can avoid this and safeguard your valuable investment.
Keep Away From Unreliable Agents and Sellers
One of the most common things to keep an eye out for is an unreliable real estate agent or seller. This is yet another unfortunate scam that is becoming more prevalent in Pakistan. Third parties or unverified companies pose as real estate agents when, in fact, they are fraudsters with malicious intent. Therefore, we suggest you conduct a background check on the property agent with whom you are working. You should look at their projects and online portfolio if their agency has one. You may also find client reviews and testimonials on their website or social media channels to help you decide whether they can be trusted. It’s best practice to set up a meeting with the agent physically before making any deal. Also, seek out referrals from your own social circle.
Look for Forged Documents
Don’t forget to check for fake documentation. People frequently end up dealing with fake documentation in the property market due to their negligence. It is important to double-check all original and copies of documents to ensure that they are stamped and verified. Legal services should be used as an additional measure to determine the integrity and authenticity of all property documents. Such documents should also not be shared with third parties or made available on any digital/online platforms.
Get A Copy Of Approved Layout
Buyers must obtain a copy of the approved building layout from the developer/seller of the property if they are purchasing an already constructed property. Confirming that the building plan/layout and construction have been approved by the Pakistan building authorities will reduce risks such as project delays or cancellation. This quick examination of the property will ensure that the plan is genuine and dependable. This also ensures that the buyer is not taken advantage off after making the initial down payment.
Moreover, if you are buying land in Islamabad, you can verify land status from the Property Verification Centre (PVC) at Facilitation centre in the DC office. It’ll keep you away from any illegal property or falling into trap of non-existent societies in Islamabad real estate.
Cloud Villas By Cloud Services
There are many other frauds you have to look for while buying a property. However, now that you are aware of the most commonly committed fraudulent practices in Pakistan’s real estate market, make sure you visit an experienced, licensed, and reputable real estate agent when looking to buy or rent a property.
Cloud Villas by The Cloud Services is the leading property builder in Islamabad real estate. Cloud Villas agents are extremely dependable and will assist you in making sound decisions and help you avoid any kind of fraud. Cloud Villas is providing many property projects like Cloud Tower-1 with modern amenities and transparent dealing methods for national and international clients as well.
For more information, or if you have any queries, you can contact us on our UAN (+92 348 111 5505) or you can simply visit www.cloudvillas.com.pk and buy property in Islamabad real estate with transparent and safe dealing methods.