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It has been a situation worth giving attention. When the elders speak, do well to listen and well, pick things that are frequently a discussion. Or do you think fraud is only an online thing? ALL these things were first practiced offline and online presence has only been a platform to leverage. On a different point of view, one can also see an underlying advantage of online activities than offline ones.
For instance, you could purchase a stock of any company and retain the ‘all rights reserved’. Ok, some of your dead tokens are still left in that wallet as yours and unless you choose to transfer them, they remain yours especially in a cold wallet. You may not really understand this paragraph but we will be delving deeper.
I have eyes for properties and real estate as a business. Nevertheless, I have to understand the huddles around it and whenever such matters are discussed, I do give open ears silently. We are living in a world where many humans chose to live unethically. Investing in lands is one thing, being sure the land invested upon is actually yours becomes another concern. I know what you are thinking, what’s difficult here when you get the right papers from the sellers.
I have heard several such stories where a single seller sold the same land to more than three persons. In the end, police cases leading to court sessions and what more can you do worse of all if those competing for that same ground have more influence than you; ‘that's a bad market’.
Property scams are becoming so rampant that even after a decade of buying a land and building a house on it, you may still have to put your ears to the ground concerning who comes to knock at your gate with a much older paper than the power of attorney you currently hold.
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The latest I heard was a piece of land that the village are fighting over to get it out of the government's hands. While the case is currently in court, someone just came up from somewhere and said, a huge part of the land belongs to him and that someone sold it out to him. He claims he has the power of attorney to back this up.
How funny (painful) the entire thing can be because he just got scammed many years ago and he was believing he had a land somewhere when actually he is no way near. Another thing I will add here, stop buying cheap and in a rush. It is a mistake many people make, they ignore proper research and jump in to close a deal because the seller is giving it out very cheaply.
How would someone have over 10, 000 square metres of land to sell out to you alone in the heart of a town? It is something you will also need to sit down and consider. Anyway, this is just a later suggestion because that place is already a big fight with big hands involved.
So another question to consider here is, how will I be able to run my real estate business in the near future with all this negative news around?. Just one mistake and you get defrauded in millions. This is indeed going to be a business of expertise and having the right team. Any property to be secured must involve many bodies and first extending to that local government headquarters.
Of course you know fake agents can sell lands that the government has mapped out for their use. It is not a new thing, a friend of mine became a victim, he was just lucky he was able to get back just his capital and let go of the appreciating price of that property. Properly putting, that is a loss because that money was just stuck there without any results.
To conclude, let me add, real estate is one good business that is very demanding of transaction carefulness. Beware of scammers in this field who are frustrating buyers and their money. This coordinated fraud is really getting out of hand. Personally, I think it is something that can be curbed by deploying better technology is land mapping and true ownership research. This on the other hand is a question of how soon can this be and till then, this business is proving a dangerous waters and novices are TOP baits.
This is an article covered by dani-EL; a broad niche writer. I write on faith, life facts and daily living, business and economics, small scale and daily businessing, cryptocurrency and technology. And yes, I do cover articles on financial education and investment updates. And note, if I happen to be a financial adviser to you, the TOP financial advice should be ‘DYOR’ (Do Your Own Research), I can't afford to break your heart
