Dubai’s real estate market has multiple property sellers, so some buyers enlist the help of real estate agents to find their dream property. However, there are scammers online who will try to solicit cash from unsuspecting buyers. If you’re looking to buy property online in Dubai, here are some essential tips to help you avoid online fraudsters.
Inspecting the property and meeting the real estate agent
Before making any cash payment or signing a contract, you should meet the real estate agent in person and insist on seeing the property. Viewing the property will enable you to verify that the online post is authentic, and you may also inspect the property’s condition. Additionally, verify the trading licence, approved activities and registration number of the real estate company. This information is available on the Dubai Land Department’s website.
Verification of the real estate agent’s credentials
It is critical to ensure that the agent you’re dealing with is a professional. You can do this by checking whether the real estate agent is registered on the DLD’s website - on the DLD License Brokers Detail page. If the agent’s name doesn’t appear on the website, then you could be dealing with a scammer.
Never share your personal details
You should never be asked to share your personal information such as your identification documents, bank account details, and credit and debit card details over the internet. Online scammers can use your financial information to withdraw funds from your accounts, so don't fall into this trap as it's highly unlikely you'll get any money back.
Deal with well-known agencies
It is better to be safe and seek the services of well-known real estate agencies in Dubai than fall victim to scammers. You should use agencies authorised by the Real Estate Regulatory Agency (RERA). These agents will not only be licensed but they will also be experienced in real estate issues.
For more advice on the Dubai real estate market, contact the team at Fam Properties today.