How to Safeguard Against Fraud When You Buy Property

How to Safeguard Against Fraud When You Buy Property

January 28, 2020

For many people, real estate purchases are some of the biggest investments they’ll make in their entire lives—which is why it’s so important to protect against fraud. If your purchase is anything less than airtight, the financial consequences can be devastating. That’s why it’s smart to hire a real estate lawyer in Miami, FL. We can help you make sure everything is above board before you sign on the dotted line.

Here are our best tips for making sure you’re not a victim of property fraud:

  • Do your research: Buying property should not be a decision entered into lightly. The first thing you need to do is research everything about the location, from the specifics (the home or building itself) to the neighborhood. How much are similar properties selling for? Are there special considerations about the land and location (for example, sinkholes) that might make it less attractive to buyers? The more you know about the current market, the better prepared you’ll be if something seems too good to be true.
  • Consider the costs: Whether you’re buying or building, you also need to think about any related costs, such as those for insurance, homeowners associations and property taxes. Can you still afford it when you consider all of the different fees involved? For some, a perfect property isn’t so perfect when they factor in special insurance needs or an overly restrictive and expensive HOA.
  • Learn to combat sales techniques: Naturally, real estate agents want to sell property—it’s their job. Not all of them are on the up and up, though, which is why it’s important to research sales techniques. Some agents will resort to high-pressure tactics to get the process moving along faster—sometimes in the hopes that you’ll overlook a key drawback about the land. A hard sell should make you instantly wary. We suggest pulling back and asking for more time to make your decision. If the agent refuses, they’re likely trying to pressure you into making a hasty decision that will benefit them more than it will you.
  • Read the contract carefully: When it’s finally time to sign your contract, there’s no better way to protect yourself than to read the entire thing carefully—especially with the assistance of a trusted real estate lawyer in Miami, FL. Attorneys are specially trained in the law and can give you a better idea of whether your purchase contract is standard, or if there are issues you need to look out for. It’s an extra expense, but one that’s worth every penny.

Real estate lawyer in Miami, FL

Hiring a skilled real estate attorney is the best way to ensure successful real estate transactions. The property market is hot, but you need to protect yourself and your interests first. The office of Ruben J. Padron, PA has been helping Miami-area clients negotiate their real estate purchases since 2005. Our team is devoted to protecting your interests, and will fight zealously on your behalf. Call us today to arrange a consultation.

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