The real estate market in Pakistan is thriving evidenced by the launching of new projects from societies to high rise like Bahira Orchard, New Lahore City, Lahore Sky Mall, and more. Investors are attracted to the lucrative options to earn high returns on investment so are the scammers.
Fake properties and bogus agreements indicate fraudulent activities moving parallel that demand a lot of research and caution before investing. All of the issues can be solved if as an investor you have certain info to deal with the problem.
Let’s explore the best ways to avoid real estate fraud issues in Pakistan leading to making your investment journey smooth and seamless.
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Do Your Market Research
There are a few parameters that you need to take care of through extensive research in the real estate market about current prices, credible dealers, excellent societies, necessary documents, and developers.
The process of research allows you to take the right initiative and save you from possible troubles in your investment journey. Info in hand facilitates you to make decisions without any hassle.
Choose the Reliable Agents
It can be easy to check the reliability of real estate agents. You can go through their portfolio and visit their digital media presence on various platforms like websites, YouTube, Facebook, and more. The positive remarks and testimonial is another way to back the reputation of the agency.
You can also find a reference through your family and friends so you put your faith easily in them. Analyze the authorship and connection of the agents in the market through a bit of inspection.
Meet the Seller Face to Face
If you are buying a property in a renowned housing society, the reputation and history of the society management will assure you why you should adhere to investing there. In case of dealing with individual sellers, request your realtor to arrange a meeting with the owner directly.
When a company is involved in selling a property its certificate or achievements will be enough to dissolve your concerns. Otherwise, it’s necessary to verify the allotment, and transfer letter with Seller NIC for completing the legal process.
Pay Small Amounts in Advance
As a token of confirmation, buyers need to pay a modest amount rather than an immense amount which makes investment difficult and risky. The nominal fee will convert the legally binding on both parties. Give your money in front of a few witnesses.
Pay the amount between 50,000 to 100,000 as a token and obtain a copy of the transfer letter from the owner. It will be great when you receive a receipt for your token to include all the necessary information about the property.
Ask for an Approved Layout
If you’re buying real estate in society, you need to ensure that all policies of society management must be followed to avoid any inconvenience. You can take a copy of the authorized construction map and take it to the authorities to confirm the layout for approval.
It’s advisable to measure the carpet area after asking directly from the owner. The variation in the area can lead to a disagreement, if any there.
Don’t Rush Buying
You locate your property and decide to buy it after due consideration and time. Don’t come into the hurry artificially created by the sellers as it also uses a few tactics to get rid of their spaces due to lack of facilities.
Demand for a clear and explicit breakdown of the cost and discuss the medium of payment with the receiver. Mention the same amount in the transaction contract.
Book Your Real Estate Assets with CDB Properties
CDB Properties is the authorized dealer of many developers and has years of experience in various regions in Lahore. From high-rise, commercial plots to residential houses on installment, Contact CDB Properties and buy the desired spot effortlessly.
Contact: 03331115100
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