The risk that defines this sector.
WHAT THE COMMON SCHEMES ARE
Selling land the seller does not own Selling the same property to several buyers Forged title documents Land under government acquisition sold as clear Agents taking payment and disappearing Developments that are never built Impersonation of the true owner
WHY THEY SUCCEED
Transactions are high value, verification is skipped, and urgency is manufactured.
WHAT TO NEVER DO
Pay before verification is complete Pay anyone other than the verified owner or their solicitor Rely on documents presented to you Proceed under time pressure
WHY TIME PRESSURE IS A SIGNAL
Legitimate sellers accommodate proper verification.
WHAT TO ALWAYS DO
A search at the lands registry, through a solicitor A physical inspection with a surveyor Enquiries with neighbours and the community Verification of the seller's identity
WHAT TO VERIFY ABOUT IDENTITY
That the person is who the documents say.
HOW
Identification, and enquiry.
WHAT TO BE CAUTIOUS OF
Prices substantially below the area Sellers unwilling to meet Documents that cannot be verified at the registry Payment requested to a personal account Properties with occupiers who deny the sale
WHAT TO DO IF ANYTHING DOES NOT VERIFY
Stop, and walk away.
WHAT TO PREFER
Losing an opportunity over losing the money.
WHAT TO RECORD
Every step of verification.
WHAT TO ENGAGE
A solicitor you chose, not one the seller recommended.
WHY
Independence is the point.
