Real Estate Fraud: Different Ways of Being a Victim & Preventing it

The Real Estate market in Barcelona has recently experienced a flood of properties now available for rental and sale. Along with the weak supervision of laws and regulations, fraud has become more common. Fraud is the wrongful or criminal deception intended to result in financial or personal gain. We will look at the different forms you can experience fraud in Real Estate and the various steps you can take to prevent it from happening to you. Furthermore, we will suggest the best solution for you to avoid all potential problems.

Different Ways of Being A Victim of Deceit

From Booking apartments that don’t exist to false buyers looking to obtain your private details. The Real Estate industry can be dangerous if you do not follow the correct procedures. Fraud has found its place in the industry and can leave you in difficult situations. With the numerous ways, you can fall victim to fraud, the one you should keep an eye out for is booking an apartment where the lessor isn’t the owner of the property. People may offer you apartments belonging to their friends or family and may not have the legal right to do so. This action is illegal and you can be evicted at any time.

You may find it difficult to identify a lessor who is not the owner as they may have access to the apartment, have the apartment bills in their name and all the documents necessary to convince you.

The rental process can be confusing but we explain it well making it safer and easier for you to find your next home. Here at Casamona we do not accept or tolerate fraud at all. We are proudly an ethical company that stays on the correct side of the law. We gladly assist people in finding apartments ideal to their needs saying no to illegal activities and will continue to do so.

Steps to Prevent Fraud

Before moving into an apartment, we highly recommend visiting the apartment. If you can not, try and get someone you trust to visit the apartment. You must be certain you know the apartment is similar to the pictures advertised. With increasing fraud in the market, it’s important to be as cautious as possible. Additionally, always read a contract through including the small details. Once you’ve found your next home, always sign the contract before making any payments. Any activity done before you signed the contract can not be legally used in any later disagreements.

If you are doubting a lessors ownership, you should ask them for the ‘escritura’ or ‘IBI’. These documents have the apartment’s owners name on them. If they refuse to give you one of these documents, do not follow through with the process. These documents are crucial to ensure your safety both physically and legally.

You’re probably thinking of renting or buying an apartment is a process full of potential problems. No need to worry as this whole process is easy if you do it correctly and follow the following steps. To avoid being in the previously mentioned situations, we highly recommended booking your apartment through a trusted and experienced Real Estate agency such as Casamona. We have over 14 years of experience and first-hand involvement with Fraud attempts against us. We will gladly help you through these possible difficulties and help find an apartment ideal for you.