Acquiring land is a lifetime achievement but also land is a valuable asset however it never expands despite the ever growing population. Because of its valuability it has increasingly become a target of fraudsters, and anybody who owns it or is in the process of owning it is a potential target of this scam. Land fraud takes place in different ways but the common one is where criminals try to sell property by impersonating the owner.
Also fraudsters can forge documents and mortgage your land to get a loan from a financial institution or individual money lenders and leave the owner of that land in debts. Land fraud can also take root in forging land titles, illegal removal of caveats and forging letters of administration.
These fraudsters target especially land that is not developed, whose owner is dead, occupied by tenants, which is not titled or registered in the lands registry. Land where the owner lives elsewhere and even that is in the process of being bought or sold is also a target of fraud scam.
Land fraud is on the increase and fraud methods change all the time so always look for anything that seems unusual or suspicions, always be cautious of any land dealing or transaction that prevents from having time to check on them. At times the criminals pretend to be genuine buyers and make an offer and then withdraw but remember you would have given them information relating to your land and can use this information to commit fraud on your property like acquiring a land title.
To check land fraud also relate with local leaders and the community where that land is located. These can help you to detect any unsuspecting characters who might be visiting and checking on your property. Local council leaders are most times witnesses on land transactions so try to work with them especially in ascertaining ownership of the land you may wish to buy.Land buying and selling is not as easy as people assume that is why it’s advisable to possibly get a realtor or a trusted agent.
These professional land buyers and sellers can easily detect fraudsters for example those who would simply want to dig information or spy on you about your land and use it to commit fraud. Criminals in land fraud can impersonate anyone involved in land transactions including owners, buyers, borrowers and lenders that why using a professional land market dealer is important.
Also try to have developments on your land. You may not have already acquired money to build on your land but you can put there simple developments or utilize it like doing some simple urban farming this is because unutilized land is a target for fraudsters. But also if your land is rented out it can be a target or even your tenants can commit fraud on your land, forge documents and mortgage it for a loan or even at times sell it off. So always verify, do spot checks and increase visibility on your land or property.
Also you can register your land with the land registry and get a land title but also always check and update your land details so that any criminal attempts on your land can be easily detected before.
But acquiring land requires due diligence on that land to ascertain its status for example site visit to the land, boundaries, particulars of that land, conduct of that land in the lands registry but you can also appoint a realtor or trusted agent to help you through the process. You can also use a lawyer but make sure he is a trusted lawyer because some unprofessional lawyers have become a conduit to fraud. Whether you are buying land or any other real estate property at Amity Realtors we try to keep in touch with you regularly to make sure the process becomes not only simple but also not risky.
We always do careful study, research and have a professional and trusted team to attend to anything you are concerned about to make sure your land acquisition is safe and transparent.