Buying Guidelines

Do you have any guidelines for buying property through property dealers, specially for overseas Pakistanis. I have recently been cheated by a property dealer who grabbed Rs.900,000 by fraud from me in a property deal and I could not do any thing, despite discovering it the very next day of paying advance. You are already doing great job, I suggest if you can develop general guidelines for buying property with the help of genuine and honest property dealers and input from the people like me.

Pleas also share your experience so that it can be avoided by other buyers in future.

1-The plot which was being offered by the owner against Rs.5,600,000,the dealer sold me against Rs.6,200,000. He created a story that to make the owner to not sell the plot to someone else we have to give him big advance(Bayana). He took into his account an amount of Rs.1,200,000 from us.

After searching on net I discovered that the same plot is being offered by an other property dealer against 5,600,000. When I asked my property dealer to give me the number of the owner or return me the advance. He refused and said he will confiscate the advance and produced false bank statement(tampered with hand)false check etc. Lessons learned are as under:

  • Do not make any deal in haste,what soever the property dealer may say to you, unless you have confirmed evidence.

  • Directly talk to the owner of the property and negotiate the price with him yourself.

  • You may determine the price of a property by checking similar property available for sale on Zameen.com.

  • Do not give a large advance amount to property dealer as normally they do the fraud into that. Always insist on paying directly to the owner's account.

  • Say to them openly that in case of any cheating may be the Azaab of Allah upon him( the cheater).

  • Always do the process with proper documentation, duly signed with witness in front of you, with thumb impressions.Keep the originals with you.

  • Always pay Sadaqa and depend on Allah. Nobody is trustworthy nowadays,unless you have sincere brothers and friends. Even some relations might be looking for commission in such deals.

Very sad to hear about your loss.

Find a reliable broker, check market before buying,

Kindly share the experience.

I think there was a post by ISbase regarding buying guidelines. It was good.

If ISBase reading this, it would be good if he can paste the link for our brother.

I agree with the lessons ,

however why will you transfer 12 lack in his account ?

false bank statements[tampered with hand, false checks]brother you cannot be a kid [apology for inconvenient words]

actually the frauds in this case and similar such cases are extensive , but played very cleverly by dealers,they hide the original owner ,and behave as if the said plot is theirs, and we have to make deal with them

their crook methods can be caught in one straight step

1=REMEMBER,,,,,INSIST ON ISOLATED MEETING AND THEN MEETING IN FRONT OF DEALER WITH THE ORIGINAL SELLER

2=NEVER write two separate checks in two separate names or make such bank drafts,until the owner and you are satisfied in mutual agreement ,without dealers involvement, actually the big chunk draft goes to owner and the small one to dealer

3=restrict dealer to his genuine 1% commission,and no more manipulations from him[dealer]

4=IN REAL ESTATE DEALER IS THE LAST MAN TO BE TRUSTED [please no offence]

Dk is right

Regards

But if we do all the checks, dealer will try his best to drop the deal if the plot is good and one's need or choice. He would try to sell it to anyone else.

I am not favoring to go blind but want to know answer to the problem.

What if the plot owner is also a dealer?

Junaid bhai, in that case you not only have to pay just for the mangoes, but also the mangoes tree as well , your bad luck,,,

who knows the hidden [:honeyed poison of umer khayyam novels"]

one can only be opened eyes ,open ears ,and a fresh mindset plus less use of gifted tongue to face unprecedented happenings,

Again Dk, in seller market like G-13 or E-11, why would dealer close the deal with you on 1%? Why not to get another buyer in pipeline?

I don't have much experience brother B.R Malik,

i think a lucky buyer is one ,who can manage it with owner directly,

i did this once 10 years back a house was needed by my brother ,we talked to a dealer ,who gave us 23 lack final,we asked for visit to the house in the presence of the owner to ask about the details,before finalization of the deal,the dealer agreed,.we were 3 [my brother and uncle plus me,my uncle is an experienced man, he asked us to engage the dealer in lower portion , and he ,himself took the owner to the upper portion , what tricks he played,resulted in a 4.5 lack difference of price, which he announced in front of the dealer in coordination with the owner,

the dealer was clueless and had to prepare the papers on commission only,

ANYHOW I BELIEVE IT STRONGLY THAT,THE DEALER IS LIKE THAT CLEVER CAT, WHO WILL KEEP THE LAST TRICK OUT OF REACH OF THE LION,

@shoaib sorry to hear all that… But to help others please also mention the real estate name so others may avoid these sort of scammers in future.Rest may Allah recover your loss.

You are right Dk. Now I have found an answer to my observation that why these dealers come in two or three in number. Purpose is not to let owner slip out alone.

But good experience of yours. One learns from others experiences.

In seller market even 1% in case of a kanal house will make the dealer earn 5 -6 lack per deal in E-11 or f-10 etc,if he believes in halal its more than enough,

any how if the line bet genuine halal/haram is blurred then of course the question will come in his mind ,as why to earn 1% when he can earn 5% by deception,

and its extremely difficult to check him in this deception,he is professional and violates the ethics of his profession,

FOR example a doctor diagnose and decide to operate appendix just for money, while he knows that the pain in abdomen is not due to appendix but simple indigestion,now tell me who can disbelieve him and who can catch his greed or deception except his own conscious and fear of ALLAH,

the same goes for real estate ,construction, education and every other profession

Members please share your good or bad experience in buying process ,it will make a healthy contribution,

Many experts are absent due to Ramazan.

The further story is that when the advance of Rs.1,200,000 was given to the property agent for payment to the Plot owner, and it was discovered that the dealer has cheated us, I asked him to give us the contact number of the owner. He refused. Secondly, he claimed that has paid the advance to the owner of the plot and gave us a copy of his personal cheque @ Rs.1000,000 in plot owner's name (which was not enchased), saying that Rs.200,000 already paid to him in cash. I confronted that issuing a personal cheque does not mean that money has been paid to him. He provided us through whatsup a copy of his bank statement, which when I printed was altered by hand, as no payment of Rs.1000,000 was made. The dealer has taken from us Rs.200,000 cash and 1,000,000 into his account to pay an advance of Rs.1,200,000

However, when the deal was concluded and we eventually met the owner of the plot, he told us that he was paid Rs.300,000 as advance and the rest which we paid through demand draft. As such we property Agent grabbed as Haraam from us an amount of Rs.900,000.

When I confronted him, he totally refused and started saying that he has paid to other agents. I was wondering, when the market is down and people are desperately looking for buyers and his own commission is 1%, how he would be paying more commission and to how many other brokers.

I could have resorted to FIA or Police but I have left my matter to Allah. I am sure, that this Property Agent and his accomplices, if any, would not rest in peace and cannot digest this wealth earned by way of fraud and cheating. There is a law of nature that wheat seed produces wheat and likewise evil begets evil and would not be able to benefit from it rather it will be a curse for him.

One of my brothers has asked about Property Agent's name. I do not want to expose him directly. I am sure, such people can't survive longer. I just wanted that the loss which I suffered because of firstly my overconfidence on people and secondly getting the things done may be in haste as I think one should take decision after thorough thinking , research and relying upon his own wisdom and above all on his Allah. The dealers sometime create a situation or story as there is a property like hot cake and if the client does not buy it right now, he will miss it and new buyer is easily trapped in such a fabricated situation specially when his own people are also involved.

Zameen.com is a great great source of help equally for property buyers and property dealers and provided an excellent platform in today's cyber world and it very helpful for Pakistan specially living and working abroad.

My thanks and gratitude to them.

Brothet Shoaib. Dont worry at all. I wanted to add that Hadith says that if someone owes money equal to 7 ounces (رتی ) of silver, on the day of judgement he/she has to give sawab of 700 maqbool prayers to that person and than get rid of the isdue. 7 رتی silver was of Rs 28/- a few years back. Now maximum Rs 60/- .

Now you can imagine what it means when we do fraud.

Everyone has to return money to the original owner. Its just choice. Whether one wants to return in this world or the next.

So its an investment by you and you will get it. Your approach is very good that you never revealed name of the dealer. Case will remain in your favour. But if you see someone dealing with him, you have an obligation to warn him.

@Shoaib Ahmad ,brother my sympathies and prayers with you , may ALLAH reward your loss in multiple of profits ,[ AMIN]

actually i had suggested in one of my post ,that if there is a regulatory body ,with some laws and legislation for real estate , it will benefit all,

1=it will make it mandatory for the dealers to bring the parties [ owner and buyer in front to front meeting before the deal]and no hidden deals , if hidden must be dealt with strong anti fraud laws,

2= the societies before transfer must be subjected to the clause of clarification from the parties[ owner and buyer about the deals fairness]

3=gov must involve in the process , it will raise a good deal of genuine taxes for the government

4=illegal corrupt money ,obtained by haram means ,by corrupt gov officials, can be easily tracked,

and so on , many benefits of such regulatory body