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Fraudulent schemes and deception of realtors when buying an apartment

The swindler wants to sell the apartment

In the process of searching for an apartment, most often the buyer comes across an intermediary. Almost all the ads that come across in the search, anyway were compiled by realtors. That is why it is extremely difficult to contact the real owner of the apartment. We will tell you how not to get caught in the tricks of realtors and not lose extra money on commissions for intermediaries.

Deception in advertising

Very often, realtors post on the Internet many ads in order to attract a potential client. In fact, the apartment that a person sees in the ad, most likely does not even exist. This is done so that as many people as possible contact an intermediary who will offer to look at various options for sale.

If you ask the realtor to show the liked version, he usually replies that this apartment has already been sold. But there is a way to look at others, like and even better. Thanks to this deception of buyers, realtors are just looking for new customers on which you can earn in the future.

But there are ways to identify such ads. Most often, incomplete information is provided. For example, there is no data about floor, area or location. Other characteristics can be quite contradictory. You should also pay attention to the ads to which attached too good photos, they are probably just taken on another site. And if the cost seems obviously low, then call on such an ad at all not worth it.

You also have to understand that the main objective of such announcements is to find a potential buyer, which in the future should cooperate with this intermediary.

Real option with phone intermediary

Another popular method, often used by fraudsters-realtors, is the actual theft of real ads from apartment owners. An intermediary places a foreign ad on its behalf, most often without the permission of the owner.

When a potential buyer calls on the ad, he thinks he is contacting the owner, but gets to the intermediary. In the future, the buyer is forced to find out who is the real owner of the house, and who just wants to receive a commission from the transaction. It must be said that the fees that the buyer will have to pay often reach $2,000.

If you do not want to pay an intermediary, you should look for sites where the real estate owners place ads.

I’m not a realtor, I’m just a friend

Intermediaries often indicate in the advertisement that the apartment is sold by the owner. But at the first interaction it turns out that the buyer contacted a friend, a relative, a friend who just helps to sell. If you think that in this situation you do not have to pay commission, it is not at all true.

After the buyer comes to see the apartment, it turns out that the house is sold through an intermediary who needs to pay. And in a phone conversation the buyer was tricked into just coming.

Such situations are extremely unpleasant, because the buyer understands that his banal scam. The man wanted to find an apartment from the owner, but again came across a cheating broker.

And only after the potential buyer looks at the apartment, the question of its cost is raised. It is at this point that it is revealed that the mediator, who introduces himself as a friend, wants his commission. Naturally, you do not want to spend your energy and precious time on such situations, so it is better to know about it in advance.

Psychological techniques

Often, intermediaries do not immediately show what the buyer wants. The client is driven through scary and murdered apartments that only partially meet his expectations. Then the middleman says that just a couple of hours ago, there was another option that would suit the buyer. And indeed, the new version is good, fully meets all the requests.

The essence of this scheme is that a good option was originally, but the realtor wanted to push the buyer, make it more malleable and ready to buy immediately. Of course, after viewing terrible apartments, the person immediately agrees to buy, and often even pays more than evaluated apartment in fact.

The apartment is shown only at certain times

The main task of the realtor is to sell the apartment by any means and to receive commissions. This is why mediators never focus on housing deficiencies. For example, if the house violent neighbors, then the apartment will necessarily be shown only in the morning, when everyone is still asleep. And if there are problems with parking, then the apartment can be viewed only on a weekday, when everyone will leave for work, and there will be practically no cars in the yard.

If the view is terrible from the windows of the apartment, the potential buyer will be invited only at night. That is why you should look at the apartment you like several times, and necessarily at different times of the day, as on work days as on weekends.

It also happens that the view from the window changes radically depending on the season. In our practice there was a case of selling an apartment in Kyiv on Antonovich Street. In spring and summer, a view of the green park was opened from the window, just as the visitors told. In the autumn and winter, when the leaves fell from the trees, the view was quite different. Graves and crosses of the Baikovo cemetery, over which there is smoke above the crematorium. Of course, for some people this kind is not a problem. But others would hardly knowingly buy an apartment with such a feature.
View of Baikovo Cemetery

A straw buyer

When the intermediary sees that the client exactly fits the apartment, he begins to rush with the purchase, without giving time for reflection and the opportunity to reduce the price a little. To do this, various techniques are used. For example, during the time you will be looking at the apartment, unexpectedly come another buyer. This creates an artificial demand for housing and the appearance of excitement, thereby pushing to buy without bargaining.

Another popular method of deception is that the realtor is supposedly called by other buyers who are willing to make the first payment if the owner gives up a little. The realtor says that the apartment can be taken right now without bargaining, otherwise others will buy it. This is quite old, but still an effective and popular way of psychological pressure on buyers. Which realtors actively use even by that day.

They refuse to return the advance

Many intermediaries do not understand the difference between an advance and a down payment. Or they just pretend they don’t understand so they can cheat the client and profit from it. However, there is a significant legal difference between these terms. Realtors often say that you need to pre-issue a deposit. But it can not even be mentioned in the text of the preliminary contract for the purchase/sale of housing.

In the standard contract text, the process of transferring funds is referred to as advance or amount of collateral. Each buyer should know that the deposit cannot be legally secured in the preliminary contract.

Another deception is that the buyer is often refused to return the advance under the guise that it was part of the deposit. However, it should be understood that in almost all situations, however enshrined in the text of the preliminary contract of buy/sale, it is the advance issued.

Of course, the amount of security and the amount of fine, which is compensation for the owner in case of refusal of purchase, will be fixed in the contract. However, if the text referred to the advance, it should be returned in full. If the buyer is told that it was a deposit and refuse to return the funds, he is being deceived.

Legal check from an intermediary

This kind of deception is the most popular, and inexperienced buyer can face many problems. Mediators often say that they have conducted legal checks of all nuances. However, it should be understood that the realtor does not bear any responsibility for this.

There are many situations that can cause serious problems. For example, if you buy a house with problematic documents, after a while the previous owner of the dwelling may apply to the court and request the cancellation of the transaction.

It is necessary to understand that each realtor will tell you that the documents are fine and there will be no problems. However, most often it is a deliberate deception, which is used by intermediaries to quickly conclude a deal and get their commission.

The contract, which must be concluded with an intermediary, does not contain any guarantee that the apartment bought does not have problems with documents. Therefore, you should not trust realtors to check documents, it is better to do it yourself or contact the legal company.

Verification of documents on the apartment

How to Protect Yourself from Deception

The buyer must be clearly aware that the realtor is a simple intermediary that finds the opportunity to sell the apartment. The main objective of the realtor is to get money for the transaction, so he will not really worry about all the problems.

Using intermediaries is good, even very convenient. However, they should not be trusted with verification of documentation and other important aspects related to the legitimacy of the transaction and payment. To protect yourself as much as possible from fraud during the purchase of an apartment, you should find a lawyer who specializes in real estate.

It is necessary to understand that the documents for the apartment should be completely in order, because if there are any problems with them, the transaction may be invalidated. In this case, the buyer will lose not only the newly found housing, but also all money.

That is why it is best option is to hire a real estate lawyer who will check all the documents and consult on any questions before buying. Only a qualified lawyer, with experience, the necessary knowledge and understanding of all the intricacies, will be able to guarantee the security of the transaction and protect against fraud.

Also for this purpose is perfect and the notary. Only choose it is you, as an interested party. Do not trust the choice of a notary broker if you are not sure of the decency of this person.

We also draw your attention to our other articles about corrupt realtors who deceive gullible customers when buying and selling and renting real estate.