How to Avoid Scams and Fraudulent Listings When Buying Property Online

Verify the Seller's Credibility

Conduct thorough research to verify the credibility of the seller or the listing agent. Check their credentials, reviews, and professional background to ensure their legitimacy and credibility within the real estate industry.

Scrutinise Unrealistic Offers

Be cautious of listings offering significantly lower prices or extraordinary benefits that seem too good to be true. Scrutinise such offers meticulously and conduct additional due diligence to validate the authenticity of the property and the legitimacy of the seller's claims.

Request Comprehensive Property Documentation

Request comprehensive documentation, including property titles, permits, and legal certificates, to validate the property's ownership and authenticity. Verify the accuracy of the provided documents with local authorities and legal experts to ensure that the property is free from any legal disputes or encumbrances.

Avoid Unusual Payment Requests

Beware of sellers requesting unusual payment methods, such as advance cash payments or transactions through unverified third-party channels. Opt for secure and traceable payment methods, such as bank transfers or escrow services, to safeguard your financial transactions and minimise the risk of fraudulent activities.

Conduct Virtual Property Inspections

Insist on conducting virtual property inspections through live video tours or interactive virtual reality platforms to assess the property's condition and authenticity. Request for additional property images, videos, and detailed floor plans to validate the property's features and ensure that it aligns with the description provided in the listing.

Consult Local Real Estate Experts

Seek guidance from local real estate professionals, legal advisors, or property consultants who possess in-depth knowledge of the foreign property market. Leverage their expertise and industry insights to verify the legitimacy of the property listing, assess the legal compliance, and navigate any potential red flags or discrepancies that may arise during the transaction process.

Verify Seller Identity and Contact Information

Verify the seller's identity and contact information through reputable online platforms, official databases, or professional networks to authenticate their credentials and establish direct communication channels. Avoid engaging with sellers who provide vague or misleading contact details and prioritise interactions with credible and verified individuals or entities.

Stay Informed about Local Property Laws

Familiarise yourself with the local property laws, regulations, and transaction protocols governing the foreign real estate market. Stay informed about the legal requirements, property ownership restrictions, and contractual obligations to ensure compliance with the local legal framework and mitigate any potential risks associated with cross-border property transactions.

Luckily for you, Estate Agent Power makes sure that all the properties listed with us are genuine. We verify the seller's credentials, and the property documents and perform video verification of the property. But it is always a good idea to do your due diligence. By implementing these precautionary measures and exercising due diligence, you can protect yourself from potential scams and fraudulent activities when buying property online abroad.