Thursday, August 4, 2016

HOW TO GET FOOLED AND CHEATED IN THE REAL ESTATE PURCHASE

Too many internet smart buyers are seen in the real estate market with pocket full of money and loads of loan on their heads.  

Clever guys, too smart, hard ly educated and plush with soft money enter the real estate market with an intention of buying a property either to live or to rent or as an investment.

But, the Real Estate Market is flush with the developer, builder, banker, officials and landlords with much more criminal intelligence and top end marketing techniques.

The internet educated buyer is first taken for a chota ride.  As soon as the dumb buyer fell for their tactics, all the above parties pounce and jump on him and complete the burial. (Sale and Registration of a property)

Majority of the internet websites publishes details about the properties and about the builder/seller, through them, the website owners make MONEY.  None of them are bothered about the buyers as they do not pay anything.  

SOME OF THE SLOGANS OR STATEMENTS OR OFFERS

1). Free - Nothing in this world is free except the word FREE.

2). Offers - Sugar coated poison.  Total and blatant lies.

3). Service - No free service can be offered, when the company pays for the employees.  It is naturally added in the price of the property.

4). Free inspection -  A chauffeur driven car is sent to pick you up and bring you to the SPOT.  Driver is paid by the company and the car is also hired and pay for the fuel.  How can it be free?  It is a part and parcel of the price offered.

5). Club Membership - Useless and pay an exorbitant  (extortion) price for an useless thing.

6). Pre Approval from Banks - How can a bank approve the project even before its commencement ?  Magic ? More than 50% of this kind of projects have never taken off and never completed. (Even Top Builders) Why would any bank approve a project with no documents?  What else ?  ( Kick Back )

7). Assistance to get loans - Because, there are too many looseends and too many loop holes, which will be blocked and the buyer is happy that he got the LOAN.  The buyer thinks that the loan is free and celebrates stating that `Yaar SBI Muje loan dedhiya` Chal maja karenge.  Maja thab shuru hota hai, thab, EMI start hota hai aur building complete nai hote.  Then, Pay EMI and the Rent.

8). Pay 10% now and pay 90 % at the time of possession -  New tempting offers to hoodwink the buyers.

9). Free Registration - Why?  The buyers think that it is a difficult process and as it is free, avail it.  It is not free.  The builder has already collecting the fees in the EMI as legal charges or expenses.

10). Price Quotation - is too tempting.  The additions are stated in small letters or it is not mentioned at all.  Once, the goat falls into their net, then, the charging begins.

11). Taxes - Taxes collected and majority have not deposited with the concerned department.  Many are defaulters.  
Tax amounts collected are more than the tax liability.

12). Civic Amenity Deposits - It is major catch.  BESCOM deposit is Rs.5000/- to Rs.10,000/- for 2 Kv power, but the internet buyer pays Rs.50,000/- to Rs.1,00,000/-

Water Deposit : Rs,2,000 to Rs,5,000 only, but the buyer pays Rs,50,000/- to Rs.1,00,000/-

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