New face of property crime

FRAUD: SCAMMERS TARGET BUYERS, SELLERS, TENANTS WITH FAKE LISTINGS, INTERCEPTED PAYMENTS

- 

We thought we have seen all the scams on offer. Stealing our personal details and using it to commit fraud, stealing money from our bank accounts and the latest trend: calling and pretending to be from your bank and talking you into moving your money. Now there is another one: property scams.

Paul Stevens, CEO of Just Property, says fraud is a growing concern for South African property buyers, sellers and tenants.

"Transactions often involve significant sums of money, making this a target area for criminals," says Stevens.

"Scams are becoming more sophisticated, but there are clear ways to protect yourself. Working with a registered and vetted agent is one of the most effective."

He says, for example, a flat in a sought-after suburb is listed online at a really good price.

"The photos look genuine and the agent responds quickly. But when you ask to view the property, the story changes," he says.

"You are told it is currently occupied, or that a deposit is required before access can be arranged. This is often where the trap is set. Once the money is transferred, the scammer disappears. In some cases, the property does exist but belongs to someone else entirely."

Stevens says in rental scams, criminals often use real property images to build trust.