In the last decade the Pakistani real estate market has been growing exponentially. It's now one of the biggest industries in the nation providing business and investment possibilities to millions every year. But, because of this trend and growth fraud and malpractice are on the rise.
The rapid growth in the property industry in Pakistan has attracted the attention of fraudsters. Many business owners and private individuals are under the swath of typical frauds perpetrated by property brokers in Pakistan as they purchase property in the name of Real Estate Fraud.
It's difficult to determine who are honest in their work. The property frauds are veiled in the image of aristocratic status; we can't imagine the dangers they pose and how they can make you pay off at the top of your head. It is difficult to know who is actually the person and who is a fraudulent.
If you're looking to use your precious profits from many years of hard work in order to purchase a brand-new home or to protect yourself from financial frauds in the property industry in Pakistan and elsewhere, then read this This article will provide you with in detail about this act.
Table of Content
- From Whom You Are Purchasing
- Authentic Information
- Claimed To Have Ownership
- Power Of Attorney
- Summing Up the Discussion
From Whom You Are Purchasing
Firstly, you will have to look for the seller if he is really authentic or just improvising, and find that the person is linked to an authentic agency that is registered with government affiliations, make sure that you will have to visit the agency by yourself. If Pakistan top real estate companies are about to expand their business by Buying Property in Pakistan ask the real state agency some selling referrals along with Computerized National Identity Card (CNIC) for the record purposes, these minor key points will help you before purchasing a property in Pakistan.
The main reason for telling these points is that there are many scammers in the market who pretend to be a real agents. These are the person who has efficiently fooled human beings with their smooth talk. They let you assure to trust on them that they are authentic and real in all.
In that case, it’s better to approach those agents who are referred by your friends or family members but do not forget to keep an eagle’s eye on any person nowadays.
Similar to dishonest agents, there are a number of people who post false property listings. You must be cautious about the platform you use to view these properties.
It's better to make your own property documents verification on anything you see online because on google you can find many more easy ideas to create such common fraudulent platforms in Pakistan. As a result, always go with websites that have been verified by an authentic platform and have positive relative reviews and feedback from buyers. In the additional steps, always ensure that the land is legally registered and is not occupied by anyone.
Claimed To Have Ownership
As mentioned above that the agents show the properties which they claimed to own these, but they did not. Do not buy those properties which you have not seen physically by yourself because in the online zameen record can be easily found on the internet.
In addition, don't be tricked by your seller's property price. Why? If you are a first-time buyer, they will take advantage of you and multiply the original price by telling you exaggerated features.
Apart from it though, never buy a cheap property before property valuation also because many real estate owners are overseas Pakistani who buy property in Pakistan and hire caretakers to look after their homes. But even so, most of the time, these agents take advantage of such opportunities and rent out their homes for quick cash.
Power Of Attorney
Power of Attorney, also known as Power of Authority, is the authority to act for another person in specific or all legal or financial matters. A principal or a donor is someone who delegated authority to a trustworthy individual.
It requires property documents verification which Scammers may provide false documents to people in order to steal their money. As a result, when buying or selling from property lawyers or any other expert, the documents should be adequately verified by the verified or government organization.
To avoid being scammed in this manner, do not hand over the entire payment immediately after the transaction is completed. Instead, you should make the agent wait for you to be satisfied. Besides that, to ensure the security of your transaction, you should hire NugSol which is an experienced, well-known firm that will consult you to make the best decision possible.
Finally, Summing Up the Discussion
Last but not the least, you now have the awareness to buying property in Pakistan and hope to buy or sell your property keeping these points and solutions in your mind. If you are too much stuck in other matters and wanted a trustworthy platform and wonder how to check property ownership in pakistan online, NugSol can be in service. It is your right to know or research about NugSol so that you’ll find a positive response about us.