Buyers nowadays are being easily tricked into buy homes by many builders, who are concerned only about their own benefits and least concerned about their customers. Hence, people planning to buy a property must be careful and do their research before proceeding to even have a site visit to the property. Homes in Chennai are in high demand today. Hence, property developers and real estate agents take this as an additional advantage and trick people with hidden cost and other related issues. In the last few years, Chennai has witnessed the presence of several dubious developers and marketing agents in the real estate segment. Buyers need to be aware of their tactics to avoid getting scammed. There are few indicators that show that the buyers are being manipulative. This article below highlights some of the commonly followed tricks used that the buyers need to be aware.
The first indicator is when a sales person freezes and refuses to share the time and date for a site visit at your convenience. Secondly, if the down payment is being asked to be made on the day of the visit by stressing ‘one day payment option’ where the buyer will get discounts and offers, then that may be suspicious. Real estate deals take time and reliable developers do not give one-day discounts.
Thirdly, it is important to know that property prices in the neighbouring projects are not always way below the identified project, even though they target the same economic segment. No matter how many more amenities the developer promises, the price of the same-segment projects cannot vary beyond 20 per cent of the total quoted price. Such claims can be clear indicators that the buyers are being tricked into.
Moreover, there really is no other substitute than the Local Registrar Office for checking out the record of ownership and this enquiry is a must for any land dealing. Also, double-checking the originals of the sale deed and cross checking with the first owner about the property are good options.
