Avoiding fraud.
WHY IT MATTERS
Letting fraud is common and the loss is substantial.
WHAT THE COMMON FRAUDS ARE
Letting a property the person does not own Letting the same property to several people Collecting deposits and disappearing Letting property subject to a dispute Agents collecting fees without authority
WHAT TO VERIFY
That the person is the owner or is authorised by them Evidence of ownership Their identity
HOW
Documents evidencing title, and identification.
WHAT TO BE CAUTIOUS OF
Reluctance to produce documents Insistence on cash Pressure to pay immediately Claims that others are interested Meeting only at the property Unwillingness to be contacted after payment
WHY URGENCY
It exists to prevent verification.
WHAT TO DO
Verify before paying anything.
WHAT TO ASK NEIGHBOURS
Who owns the property Who lived there before Whether there is any dispute
WHY NEIGHBOURS
They know, and they have no interest in the transaction.
WHAT TO ESTABLISH
Whether the property is subject to any dispute or claim.
WHY
Occupying disputed property produces eviction without recourse.
WHAT TO CHECK
Whether the previous occupant left voluntarily.
WHAT TO NEVER DO
Pay in cash without a receipt Pay to a personal account without verifying whose it is Pay before signing Pay anyone you have not verified
WHAT TO OBTAIN
Receipts naming the payer, payee, amount and purpose.
WHAT TO RECORD
Every payment and every communication.
