Land Scams
Land Scams
Land Scams
The Internet serves as an excellent tool for land investors, allowing them too easily and inexpensively research land investment opportunities. But the Internet is also an excellent tool for fraudsters and scammers. That's why you should always think twice before you invest your money in any land investment opportunity you learn about through the Internet.
This alert tells you how to spot different types of Internet land scam like those happen in UK, the Kent land scam, the London land scam and Sussex land scam are few of such type.
Navigating the Frontier: Where the land frauds or scams Are
The Internet allows individuals or companies to communicate with a large audience without spending a lot of time, effort, or money. Anyone can reach tens of thousands of people by building an Internet web site, posting a message on an online bulletin board, entering a discussion in a live "chat" room, or sending mass e-mails. It's easy for land fraudsters to make their messages look real and credible. But it's nearly impossible for land investors to tell the difference between fact and fiction.
How to Use the web to Invest in UK Land Wisely
If you want to invest in land wisely and steer clear of frauds and scams, you must get the facts. Never, ever, make an investment based solely on what you read in an online newsletter or bulletin board posting, especially if the investment involves a small, thinly-traded company that isn't well known. And don't even think about investing in land on your own in small companies that don't file regular reports, unless you are willing to investigate each company thoroughly and to check the truth of every statement about the company. For instance, you'll need to:
get financial statements from the company and be able to analyze them;
verify the claims about new product developments or lucrative contracts;
call every supplier or customer of the company and ask if they really do business with the company; and
Check out the people running the company or the people associated with the company and find out if they've ever made money for the investments made before.
Here's how you can use the internet to help you invest in land wisely.
There are unfettered firms which exist only on paper as a front for flogging shares and land investments etc with the promise of extraordinarily high returns when in reality they may be nearly worthless.
Thousands of investors have been caught out by land investment scams like the one happen in Kent popularly known as Kent land scam where very slick, convincing and persistent salespeople ring up and verbally bash them into parting with cash - usually with the line that the land investors is getting in "on the ground floor" and by insisting they hand over cash immediately or lose out on the "opportunity" altogether.
This version of a high return investment is an example of the type of tale that can be woven around these schemes. Whatever the theme the basic idea is designed to part you from an enormous amount of money. Equally the fraudsters or the so called scammers will deter you from disclosing the deal to anyone else for the reason that you are joining an exclusive group who will benefit from an investment which must rely on secrecy.
The simple rule of investing in land is the higher the possible profit, the higher the risk. If anyone claims that a high yield investment has no risk do not believe them.
Remember this - When you are hounded by high pressure techniques hang up. Do not make an immediate decision. Get written information first about the firm, the sales person, and the investment. Does not part with your money until you seek out a professional (lawyer, accountant or broker or solicitors) for advice? One of the simplest ways of spotting a high yield and low risk land investment scam is that they always offer returns that could never be obtained through legitimate investment procedures not now, not tomorrow, not ever. Some of these types of scams happen in UK recently like the scams in Kent, London and Sussex commonly known to the public as the Kent Land Scam, London Land Scams and the Sussex Land Scams.
Whenever any buyer invests in land he has different questions in mind: whether I will my title cleared? Is this land disputed? Am I being a part of any fraudulent activity? and others...
There have been London Land Scams, Kent Land Scams and Sussex Land Scams in the past but land scams are no more common than other types of real estate fraud. Where there is money to be made fleecing the greedy, the ignorant, or the just plain lazy, con men are sure to follow.
This isn't what is commonly meant by land fraud. Here are some real examples:
- Selling worthless land, in other words land without development potential, and claiming it has great value, the classic being land underwater but also land on the sides of cliff faces, under bridge abutments, and in the medians of highways.
- Promising land buyers development amenities like golf courses, community centers, and tennis courts that will never be built.
- Promising land buyers subdivision improvements like sewers, street lights, sidewalks, even roads knowing none will ever be built.
- Making false representations to buyers about the value of their land, especially claiming that lots bought today will skyrocket in value.
- Vague descriptions on deeds which allow the land promoter to sell the same land to multiple buyers at the same time.
- Illegal or unapproved subdivisions, especially where land has not been properly platted and permits granted.
- Selling land where clear title cannot be transferred, for example, selling land you don't own and masquerading as the real owner through the use of forged documents and fake IDs.
- Reserving mineral, water, and other land rights without disclosing this important fact to buyers at the time of sale.
- Using high pressure and unscrupulous tactics to sell land, especially misrepresenting a buyer's legal rights to cancel an agreed upon sale.
- Selling land of marginal value for excessive prices, especially through the use of easy credit terms ($5 down, $50 a month).
- Selling land where defects such as environmental contamination are known but not disclosed or failing to tell buyers material facts which would ultimately diminish the sale price of the land.
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