In the real estate world, caution is not a luxury—it’s a necessity! Whether you’re looking to buy or rent a property, you need to be aware of the most common real estate scams that can cost you time, money, and peace of mind. Today, we’re sharing 7 real-life property fraud cases, along with expert tips to help you avoid falling into these traps.
1️⃣ The Double Seller – One Property, Multiple Buyers!
Imagine paying a deposit for your dream apartment, signing a contract, and later discovering that someone else has bought the same property with the same paperwork! Some scammers sell the same unit to multiple buyers at the same time using fraudulent contracts.
✅ How to protect yourself:
•Always check if the property is officially registered in the Real Estate Registry.
•Have a real estate lawyer review all documents before you pay anything.
•Verify that there are no legal disputes over the property.
2️⃣ The Dream Apartment at an Unreal Price!
A luxury apartment in a prime location at half the market price!” Sounds too good to be true? It probably is! Scammers use unbelievable prices to lure victims in, then vanish after taking a deposit.
✅ How to protect yourself:
•If the price is suspiciously low, do your research.
•Visit the property in person before making any payments.
•Deal with reputable real estate companies, not unknown agents.
3️⃣ Fake Real Estate Projects – Money Down the Drain!
Book now in the largest upcoming compound at special pre-launch prices!” You pay the deposit, only to realize later that the project doesn’t exist, and the developers have disappeared.
✅ How to protect yourself:
•Make sure the developer has a track record of successful projects.
•Check if the project is officially licensed.
•Always make payments to a verified corporate bank account, not a personal one.
4️⃣ The Duplicate Rental Scam – One Apartment, Multiple Tenants!
A scammer rents out the same apartment to multiple tenants, and when it’s time to move in, everyone realizes they’ve been duped.
✅ How to protect yourself:
•Register your lease agreement in the Real Estate Registry.
•Ask the landlord for proof of ownership.
•Speak to neighbors to verify the property’s rental history.
5️⃣ Fake Ownership Documents – The Phantom Landlord!
Some fraudsters forge property ownership documents to appear as the legal owner, then sell the property to unsuspecting buyers.
✅ How to protect yourself:
•Always have a real estate lawyer review the paperwork.
•Request original ownership documents, not just copies.
•Verify that the property is legally registered.
6️⃣ The Finishing Fraud – A Bare Apartment Instead of Luxury!
Some developers promise “high-end finishes” but deliver unfinished apartments without essential installations.
✅ How to protect yourself:
•Ensure the contract clearly specifies the finishing details.
•Visit the developer’s previous projects to check their work quality.
•Include a penalty clause in the contract for non-compliance.
7️⃣ Fake Land Sales – Your Dream Villa Could Be a Nightmare!
Own a plot of land in a prime location at an incredible price!” After purchasing, you discover that the land belongs to the government or is involved in legal disputes.
✅ How to protect yourself:
•Request official documents from the Real Estate Registry.
•Avoid buying land that is not officially registered.
•Check if the land is in a legally approved construction area.
