subject: Buying Land: How To Protect Yourself [print this page] Real estate investors have many questions that arise when they are making an investment. Consider the following questions, likely if you are investing in land, they are questions that have crossed your mind, including the following.
When will the property title clear?
Is this a reputable deal?
Is the property disputed?
There are many questions that come to mind. And, these are questions that a land investor has good cause to consider. There have been many land skeems across the nation. The London Land Scams, Kent land scams, various land scams in the US among others. All were real estate fraud. Land scams involve some of the greatest con men who are able to convince their victims to give up their hard earned money.
Property scams include:
Advertising and selling land that has no value. The land has no opportunity for development, and in order to claim the land, it has great value, such as the land being underwater or the land may be under bridge abutments, on the sides of cliff faces or in the medians of highways. Scammers often create plans of communities of golf courses, shopping centers, tennis courts, community centers, etc. that will never be built. Making a completely false representation of land to the buyers and its potential value.
Land investors are promised subdivision improvements such as street lights, sewers, roads and sidewalks, making the value of the land and its potential completely false.
There are many land scams going on around the world. For example, selling land where clear title cannot be transferred, forging documents and making fake IDs to sell land as the property owner. Not disclosing important facts such as land rights to land investors at the time of a land sale and using deceitful principles and high pressure to sale land are all part of land scamming.
Property scams have long been a part of history. In fact there are some very well known land scams that have left investors in ruins. It is important to be aware of the different land scams scenarios in order to fully protect yourself. These are the smoothest of salesmen and saleswoman and many times great lengths have been taken to ensure that the scam succeeds.
Get familiar with the scenarios and when you discover that you are being approached by a property scammer then immediately stop all communication with them. No matter how wonderful the deal may seem.
