Introduction
I’m here to tell you that the world of property investment is a lot less complicated than people make it out to be. In this blog post, we’re going to look at some of the most common property scams, how to avoid them and how you can find a good investment property with ease.
The Most Common Scams of Property Investors
The most common scams of property investors are:
- Over-inflated property listings. The seller has listed the property at a higher price than they actually want, and hopes that you’ll pay it or offer more to get it. This is a scam because it inflates their expectations and gives them false hope. It’s also an insult to their intelligence as an experienced investor or agent can usually spot this in seconds by comparing other similar properties on the market at that time.
- Off-plan apartments – these are properties which have not yet been built, but are being sold off before they are completed (hence “off-plan”). The seller will claim that there will be significant demand for these new apartments once finished, which may make sense if they’re located in a popular location within easy reach of amenities such as shops/schools etc., but are always sold at an over-inflated price – just look at the resale value of any large new-build block.
- Properties converted without building regulations approval – sometimes people renovate old buildings without having them inspected and signed-off by qualified professionals first so that any dangerous structural problems aren’t found until (long) after conversion work has been done; then when something goes wrong later down the line, the cost to put-right becomes someone else’s problem.
- Sellers requesting no RICS survey for a quick sale – this is often a red flag for something being hidden and is a sign to walk-away.
- Dodgy solicitors – although rare this does happen. Check with the SRA that the solicitor is genuine and licensed to practise.
If you’re buying an apartment, then make sure that the building has all the necessary approvals for conversion (usually these are granted by local government planning departments). Make sure that there’s proper fire safety equipment installed and working – smoke alarms etc..
Who To Turn To If You Are A Victim of a Scam
You can turn to the police if you have been a victim of a scam. They will be able to help you with your case and decide whether or not there is enough evidence to pursue any suspects.
Your bank and other financial institutions may also help in situations where someone has defrauded you. If anything has been done fraudulently through your accounts, they should assist you in getting it resolved as quickly as possible.
If a property has been purchased with money from an illegitimate source and this has caused problems for both parties involved, then there are several organisations that may be able to help you resolve these issues: The Property Ombudsman (TPO), the Real Estate Agency Ombudsman (REAO) and the UK’s Financial Conduct Authority (FCA).
We offer a safer way to invest in property as a property investor – our deals are sourced for you, with your input and we can source them for you for a certain price range.
We offer a safer way to invest in property as a property investor – our deals are sourced for you, with your input and we can source them for you for a certain price range.
You can be assured that the properties we will find will be safe and secure investments, profitable and fast!
We find the properties that investors want to buy, and sell them on fast, without incurring extra fees.
As an investor, you want to make money with as little hassle as possible. We can help with that!
We find the properties that investors want to buy, and sell them on fast, without incurring extra fees.
There’s no pressure to buy, but you have nothing to lose by giving it a try!
There’s no pressure to buy, but you have nothing to lose by giving it a try!
It’s a risk-free way to invest in property.
We find the properties that investors want to buy and sell them on fast.
If you are looking for investment properties to buy, then we offer a very safe, secure service that is specially designed to help protect you from property scams.
If you are looking for investment properties to buy, then we offer a very safe, secure service that is specially designed to help protect you from property scams.
Our company provides landlords and investors with a free of charge service that helps them find great homes at good prices.
And if you’re looking for UK based investments, our services will help you find somewhere safe and secure with no upfront fees or hidden costs involved!
Conclusion
If you are looking for investment properties to buy, then we offer a very safe, secure service that is specially designed to help protect you from property scams.
