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5 ways to avoid property scams for OFWs

Investing in real estate is one of the main dreams of the ordinary Filipino. Thus whenever an opportunity presents itself for one to invest anywhere, investing in a house or a home comes to mind. There were several instances when, after working hard to save money to invest, an OFW gets scammed into investing into non-existent property or those involving fake titles. OFWs can protect themselves by knowing these 3 ways to avoid being victimized by property scams. 

1. If you are buying condominium units, you can check whether the property has an existing license to sell number before you proceed with your purchase. If it has no license to sell yet, avoid investing. This is to protect yourself from putting money into a project that has no permit yet to sell to the public. 





 2. Check out the documents. 
The best way to check whether the title is legit is to get a certified copy from the Registry of Deeds. Make sure you ask the seller for a copy so your conveyancer/lawyer/broker can check in your behalf. 



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3. Be wary of too good to be true deals. There are good deals in the market and then there are scams. The best thing to do is to conduct due diligence in order to safeguard your investments. 

Remember to always, always conduct your due diligence before investing. The money you will invest on the services of a good conveyancer saves you from scams, long litigation, or money loss. 
4. Before buying real property, check the title. If there is none, and only a tax declaration is presented, be cautious because: 

5. And remember that once a deal is signed, you need to have it transferred to your name. 



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