15 January, 2022

How to Avoid Property Fraud in Pakistan

Apex News

Scam, fraud, and misleading are words that individuals have been trying to avoid since birth. Surprisingly, everyone has their own unique and wonderful collection of stories about their prey. As man progressed, new methods of fraud and deception were born, and they fell prey to them. It is said that experience always saves you from wrong decisions, but it is important to understand that experience comes from wrong decisions.

Real estate is a sector that revolves around the capital. Due to some elements, there has always been a cloud of property fraud in this sector; unfortunately, Pakistan is no exception. In this blog, Apex Group will discuss the ways of how to avoid property fraud in Pakistan. If the problems of the country's real estate sector are divided into four parts, the list goes something like this:

  • Lack of planning
  • Lack of information
  • Wrong business

Uncertified housing projects

In the light of these three points, today's article is based on the points of fraud in the real estate sector and how to avoid them. Only 0.5% of the total land area of Pakistan follows planned construction. Apart from that, every infrastructure is unplanned. The master plans of the urban centers have now become obsolete and forgotten. Today, one can depict that the majority of the infrastructure has only been built as per people's wishes. The state couldn't implement its SOPs at all. It should also be noted that we have many housing projects that have no legal bindings and made fraud with innocent people.

The easiest way to avoid this fraud is to check the ownership, approval, demand, and delivery portfolio. Whether they have a No Objection Certificate (NOC), what is their demand in the market and what is the market reputation of their manufacturer, and whether their delivery portfolio is wide or not.

Unregistered Property Dealers

The biggest tragedy of the country's real estate sector is many unregistered property dealers. Unfortunately, we do not have a certified business practice, and you do not yet have to meet any legal requirements to enter the real estate sector. Every day, you are approached by several people through digital media who seem to be saying that they are property dealers and deal with new and old rates of files.

The first step is to ensure that you don't rely on any real estate dealer who is not affiliated with a reputable real estate firm. At Apex Group, you will find a standard legal way of doing business. Whether you talk about real estate agents or timely delivered real estate projects, Apex Group possesses the solution to every problem in the country's real estate sector. Our professional history entails that Apex Group has proved to be a promoter of clean, transparent, and fair business in the real estate sector.

Fake documents

How can there be no mention of forged documents when it comes to fraudulent business practices in the real estate sector? These fake documents lead to the sale of fake projects.

During the time of property transfer, you have to see if the other party has provided you with the original documents or not. In this stage, an experienced lawyer who understands property matters can assist you in this regard. Otherwise, you must get a thorough understanding of the background of the legal transfer issues before you enter this step. Never sign a document that doesn't make you feel real.

For more information and safe investment options, contact Apex Group.

Related Blogs