Exercise Caution when Selling your Property

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Exercise Caution when Selling your Property

Don't do it alone. That's the advice from the police to people showing the house they have advertised to sell to a buyer who calls - someone they've never met before.

"It is best if landlords or vendors have other people around when a prospective buyer or tenant comes to view the property," said a spokesman with the Federal police at Bukit Aman in Kuala Lumpur.

It would also be good if sellers or estate agents can vet potential buyers earlier, when they respond to the advertisement, in order to establish their identities and backgrounds, he said.

The spokesman said this in light of four instances in recent weeks where prospective "buyers" or "tenants" who arrived to view the premises turned out to be robbers instead.

The incidents were reported in the Ipoh and Manjung districts of Perak. According to police, the modus operandi of these robbers is to scan advertisements offering properties for rent or sale to identify potential victims.

Another way for property owners to safeguard themselves, said Kim Realty chief executive officer Vincent Ng, would be to use the services of registered real estate agents.

"This is a safe approach. These days, more and more landlords and vendors prefer to use agents. Even when it comes to signing agreements they (landlords and vendors) prefer to sign separately. All the arrangements are handled by the agent," he said.

Acknowledging that "such things do occur from time to time", Reapfield Properties Sdn Bhd group managing director David Ong said, "I think the best way to deal with this problem is for landlords and vendors to be vigilant. Don't take it for granted that buyers or tenants are genuine."

A seller, just like any other consumer, should take precautions and "screen" potential buyers before allowing them into their premises.

"Be on the lookout for anything suspicious or unusual when the buyers arrive, and ensure that valuable items are stored away, maybe in safe deposit boxes. Be watchful always, that's the watchword," he advised.

by Christopher Fernandez
Source : NST/propertytimes