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25 April 2024

Tips to spot online property fraud; click here for Dubai Rera's check list...

The internet has also made it easier for online fraudsters to target both buyers and renters (Shutterstock)

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By Staff

The property listing almost looks too good to be true - it is in the perfect location, has beautiful photos and is well below your budget. You send off an enquiry and receive a quick response: the landlord is currently overseas and cannot show you the home. But if you can wire through a deposit as soon as possible, the property is yours.

For many people who have tried to rent a property online, this scenario might sound all too familiar. While new technologies have made it easier than ever before for property seekers to get all the information they need to supercharge their house hunt, the Internet has also made it easier for online fraudsters to target both buyers and renters.

There have been cases in the past where gullible renters have fallen victim of real estate scams in the UAE. Emirates 24|7 has reported on it with the Real Estate Regulatory Agency, the legal arm of Dubai Land Department, requesting people to verify the following information before renting an apartment:

* Check the trade license of the real estate company

* Check its approved activities according to its license from DED

* Check registration number and the brokers’ license from Rera

* All the above information can be found on DLD’s website: www.dubailand.gov.ae

Lamudi, an online property listing website, has compiled a guide to help online property seekers avoid falling victim to a scam.

# Always insist on inspecting the property
Never agree to make any payments upfront or sign a contract without first inspecting the property. Viewing the property and meeting the agent in person are the best ways to guarantee that the listing is legitimate.

#Verify the identity of the person you are dealing with
Take steps to check the agent you are dealing with is a licensed broker or agent. In the first instance, a simple online search can help you detect a scam. Try searching for the property’s address, the name of the agent and their email address.

#Avoid listings that have been posted multiple times
One common scam is for fraudsters to copy an existing (and legitimate) listing of a property for sale and repost it as a rental, with their own contact details attached. Look out for duplicate listings, which have different asking prices.

#Never give away your personal information or documents
You should never be asked to provide your bank account details or personal identification documents to someone over the Internet. Importantly, never provide your credit card verification code to anyone.

#Remember that if it sounds too good to be true, it probably is
One of the most important rules in real estate is that if a deal sounds too good to be true, it most likely is. Be sceptical about any online listings for attractive properties, which are very well priced for the area. Scammers often use these very low prices to lure property seekers.

#If you detect a scam, get in touch
Focus your search on properties listed by well-known real estate agencies and trusted classifieds websites. Once you have detected a possible scam on a real estate search website, notify the platform immediately.