Are you looking for a 2 or 3 BHK flat in Kolkata and its surrounding locations? You will come across several projects and will get in touch with innumerable builders around Kolkata. However, investing in a property is a major financial decision. Hence, it should be well thought out. Real estate scams around the city can instantly turn your dream into a nightmare. To buy your first apartment from a reliable builder, you must know about common real estate scams and how to avoid them.
For instance, if you’re looking for a 2bhk flat for sale in Konnagar, do not go with the local builders. Instead, focus on contacting reputed builders who have successfully completed different projects in the heart of Kolkata.
What are the Common Housing Scams?
1. Fake online listing sites
Are you new in the real estate market? Is this your first apartment purchase? Then, you might have started to search for potential projects in your selected area through online sites. Most of the online sites might look real and authentic. However, some scammers post fake property listings on these sites. These sites will create a sense of urgency, provoking you to invest in the property. Make sure you spot these fake sites by keeping these points in mind:
Check for property pictures which are too good to be true.
Check if the prices of the property offered on the sites are significantly lower than the market rates.
Beware if you get requests for money transfers via online methods.
2. Escrow scams
This is a common and effective scam in which the scammer impersonates the escrow company and convinces the buyer to send funds to secure the property. The novice buyer ends up making a payment of a certain amount. The scammers then disappear, leaving the buyers with a considerable financial loss.
To overcome this issue, keep these points in mind:
- Check the email ID of the escrow company
- Do not consider any requests for urgent payment
- Do not pay through untraceable payment methods
3. Fake property auctions
Scammers generally use fraud platforms to conduct fake property auctions. In this method, they set up a fake account where they claim to sell a particular property. They invite buyers to bid. The winning bidder is then convinced to deposit the amount. Once the amount is deposited, the scammer disappears.
If you’re looking for luxurious 2bhk and 3bhk flats in Konnagar, contact Bhawani Group. We are a reliable and trustworthy builder who can help you with authentic market rates for the best-located flats in Konnagar. To know more about the different projects, get in touch with us.
