Everyone dreams of living in his own house at a perfect location with world-class facilities for a bright future. Many hou
sing projects offer multiple investment opportunities, so many of the black sheep of fraudulent schemes also gather money from innocent people who don’t know much about them.
WHAT IS AN AFFINITY FRAUD?
Let us tell you that affinity fraud is something related to investment scams that can lead by professionals, ethical or religious groups of people to attract people and grab their money out of pocket. These groups work proactively and on specific categories of people who don’t know much about the real estate sector and investment details.
Their trust-making and convincing power accumulate a tremendous amount of interest for investing in their scam project. The law enforcement and legal authorities face difficulty in finding them because these groups work so efficiently and collectively.
They utilize their new investor’s money to pay the past investors for building a high pitch of safe investment. In the true light of research, the fraudulent use the collected money for their benefits, and when the supply of new investors becomes ended, the whole show stops, and the end comes in front of the eyes of investors.
Then all the people get to know that the scheme is a fraud and their money is gone.
So in this blog, we’ll be sharing some informative and valuable points that can save your investment from fraud societies.
INVESTIGATE WITH QUESTIONS:
The investor should start a priority investigation about any investment by questioning the designated person. It can be any salesperson or the director of the project.
All the questions you have in your mind can give you an unmistakable sense of fraud or the right direction because fraud projects also want the investor not to check on them before investing.
This is your responsibility to have your self-research about the dos and don’ts related to that investment opportunity.
RESEARCH ON THE COMPANY:
You’ll first have to make sure the investigation about the company and its product services by stalking them online and visiting their office multiple times whenever you think about investing your hard-earned money anywhere
We suggest that no one should ever depend on unsolicited emails, message broadcasts, and news information of the company.
REPUTATION OF OWNER/DEVELOPER:
The developer and owner are the essential pillars of any real estate project, whether a housing society or a high-rise project. You must check the reputation and history of the developer and owner whenever you get interested for investing in a housing society.
It shows how trustworthy they were, what kind of projects they delivered, and the comments of people for them.
The land is the main thing for construction. If it is not owned or bought legally to construct your dreams, then your investment can lead to fraud. Before investment, do check that the land claim of the company is correct and they acquire all the land officially that is mentioned in the details. It must be announced publically to ensure authentication.
VERIFY THE NOC:
The foundation of any housing project relies on the NOC by the concerned regulatory that approves the project for marketing and selling by legal terms.
In Rawalpindi and Islamabad, RDA & CDA are the departments for verifying the housing societies and high-rise projects.
For confirmation, you can easily check their official websites:
There would be many red flags that can intimidate you about not investing in that housing society. Some of them are:
Do not get convinced for investing money by any person whether you have known that person for many years or life. If they promise you a risk-free or little risk and quick returns over your investment, then it is a legendary sign of scam or fraud because very few assets are risk-free with good returns. A good investment also pays less return.
It is an essential factor of scanning a fraud investment opportunity because legitimate investments are usually in writing. They offer your proper documentation and keep a record of your entries. Fraudsters often ignore to keep documentation of any investment by saying that they have no time to keep it in history.
Along with that, they also suggest you not share the information with anyone about the investment that you have made. Both points, as mentioned above, are common red flags about fraud.
INSIST ON CASH TRANSFER:
Most scams investments offer and insist you transfer money as soon as possible by saying that everyone is behind this opportunity and has only limited offers. In this way, they confuse the investor about research and investigation related to that opportunity and the company.
HOPE Marketing always endeavors to provoke the investor to get complete information about the project and save their money from frauds. All the news, as mentioned earlier, is to keep you aware of fake people who can steal your hard-earned money.