DON'T FALL FOR SCAMS WHEN BUYING REAL ESTATE: 8 TIPS NOBODY TOLD YOU!

Summary

In this video, Vanilda provides eight essential tips to help homebuyers avoid falling victim to real estate scams. She emphasizes the importance of verifying property ownership through updated documentation, checking for any debts or legal issues attached to the property, and ensuring that all payments are made securely and in accordance with the law. By following these simple but crucial steps, buyers can protect themselves from fraud and make safe property purchases. The video aims to provide practical, easy-to-follow advice for a secure real estate transaction.

Takeaways

• 😀 Avoid paying third parties when purchasing real estate. Always pay directly to the legal property owner.
• 😀 Always request updated property documents (matrícula) to verify the ownership of the property before making a payment.
• 😀 Read the property registration carefully to check for any legal issues, such as liens or encumbrances.
• 😀 Request additional certificates (e.g., civil, criminal, labor) to ensure the property is free from hidden legal matters.
• 😀 Be aware that certain debts, like unpaid taxes or condominium fees, stay with the property. Always request debt clearance certificates.
• 😀 Never provide large upfront payments before the official contract is signed and all documents are verified.
• 😀 Ensure the agreement is clearly defined in the contract, including the deposit amount and required documentation.
• 😀 If purchasing in cash, make sure all certificates are in order before signing the final deed at the notary office.
• 😀 Always verify the authenticity of documents through official sources, such as visiting a notary or requesting documents online.
• 😀 Avoid rushing transactions or being pressured into making quick payments. Scammers often use urgency to trick victims.

Q & A

What should you do if you suspect that a property sale might be a scam?

If you suspect a scam, do not make any payments to third parties. Always ensure you deal directly with the legal owner of the property and verify all documents thoroughly before proceeding with any transactions.

How can you verify if the property documents are legitimate?

To verify the legitimacy of the property documents, you can visit a local notary office or registry. You can request the updated property registry and check if the owner's name matches the one presented to you.

What is the importance of checking the updated property registry?

The updated property registry is essential as it provides official information about the current legal owner of the property. It can also reveal if there are any issues with the property, such as legal disputes or encumbrances.

What is a 'prop terrenada' debt, and why is it important to check for it?

'Prop terrenada' refers to debts that are tied to the property itself, such as unpaid property taxes or condominium fees. These debts follow the property, so if you purchase the property, you may also inherit these liabilities.

What should you do to avoid inheriting debts tied to a property?

Before purchasing a property, make sure to request a Negative Certificate (CND) for debts such as property taxes or condominium fees. This ensures that there are no outstanding debts associated with the property before you complete the purchase.

How can you protect yourself when paying a deposit for a property?

You should never pay a large deposit without first verifying all documents, such as property certificates and updated records. It is safer to make the payment when signing the official contract, especially if the transaction involves financing.

What is the significance of reading the full property registry?

Reading the full property registry is vital as it could reveal any legal issues, such as pending litigation, asset seizures, or disputes that could affect your purchase. It's important to understand any potential complications before proceeding.

How does the timing of the property purchase and payment impact security?

The timing of your payment and contract signing is crucial. You should ensure that the payment happens simultaneously with the official contract signing to minimize risks. If you pay a deposit before the official signing, you may be at risk of fraud.

What should be included in a property sale contract to ensure its legitimacy?

The property sale contract should clearly outline the payment terms, include all the necessary property certificates, and specify the legal owner's details. It should also ensure that the sale process is transparent and conducted according to legal requirements.

What steps should you take when buying a property with a cash payment?

When buying a property with a cash payment, ensure that all necessary certificates are obtained and verified. At the time of signing the deed at the notary office, confirm that all negative certificates are included in the deed, ensuring no hidden issues with the property.