How to avoid being conned by property brokers

Do you plan to buy land? Were Ronald, a marketing officer at Smart Deal Brokery Services advises would-be land owners to do due diligence concerning a prospective land broker.

It is even better to physically visit the company they claim to be working for. One has to ask for the person’s identity card and make a copy of it. If possible, take their photos as well. Find out whether they are registered or not.

Know the seller

It is very critical to know the seller even if you are transacting through lawyers or other people in any community. You must meet them in person and if one says it is not possible to meet with you the buyer, then the agent or broker must tell the buyer all the details of the seller with proof of address, and copies of legal documents, names and location of the property.

Confirm that the property exists

When buying property, the buyer is advised to get all the relevant certified copies of documents like Certificate of Title or Certificate of Lease and in case of a Certificate of Lease, ask the agent or owner to give you the lease document.

Carry out a search about the land to find out if it was leased, has a caveat on it or not. Do not transfer any money until you are sure the land is not shrouded in controversy.

Pricing

The buyer must use a qualified registered valuer from the lands ministry to establish the value of the property so that it helps one to negotiate the value of the desired place without the commission of the broker or agent who tends to hike the prices of different properties according to their location in order to get a higher commission.

Avoid cash payments

Ideally, one should pay a deposit before business is transacted fully. This deposit can be refunded if the buyer changes their mind. Were strongly advises buyers  against paying brokers or agents directly and calls for use of  formal payment means like transacting through bank accounts to mitigate transfer risks and losses.