{"id":4211,"date":"2023-05-12T17:00:27","date_gmt":"2023-05-12T11:30:27","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=4211"},"modified":"2023-05-08T16:47:57","modified_gmt":"2023-05-08T11:17:57","slug":"property-scams-when-selling-property-in-india-as-an-nri","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/property-scams-when-selling-property-in-india-as-an-nri\/","title":{"rendered":"Protecting Yourself from Property Scams When Selling Property in India as an NRI"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">As an NRI (Non-Resident Indian), selling a property in India can be a daunting task. While the process itself can be complicated and time-consuming, the risk of falling victim to property scams only adds to the stress. In this article, we&#8217;ll take a closer look at one of the most common property scams in India and offer tips on how to protect yourself.<\/span><\/p>\n<p><b>Hate reading, Watch the video<\/b><\/p>\n<p><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/PvVtXd57nzw\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/property-scams-when-selling-property-in-india-as-an-nri\/#The_Scam\" title=\"The Scam\">The Scam<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/property-scams-when-selling-property-in-india-as-an-nri\/#Consult_CA_Arun_Tiwari_for_more_info_%F0%9F%93%9E_8080088288_or_csaktassociatescom\" title=\"Consult CA Arun Tiwari for more info \ud83d\udcde\u00a0 8080088288 or cs@aktassociates.com\">Consult CA Arun Tiwari for more info \ud83d\udcde\u00a0 8080088288 or cs@aktassociates.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/property-scams-when-selling-property-in-india-as-an-nri\/#How_to_Avoid_the_Scam\" title=\"How to Avoid the Scam\">How to Avoid the Scam<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/property-scams-when-selling-property-in-india-as-an-nri\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/property-scams-when-selling-property-in-india-as-an-nri\/#Selling_a_property_in_India_as_an_NRI_can_be_a_complicated_process_but_its_important_to_be_vigilant_and_protect_yourself_from_property_scams_By_being_cautious_when_dealing_with_brokers_checking_their_backgrounds_and_insisting_on_a_registered_agreement_you_can_avoid_falling_victim_to_this_common_scam_Dont_let_the_fear_of_scams_stop_you_from_selling_your_property_%E2%80%93_with_the_right_precautions_you_can_sell_your_property_in_India_safely_and_efficiently\" title=\"Selling a property in India as an NRI can be a complicated process, but it&#8217;s important to be vigilant and protect yourself from property scams. By being cautious when dealing with brokers, checking their backgrounds, and insisting on a registered agreement, you can avoid falling victim to this common scam. Don&#8217;t let the fear of scams stop you from selling your property &#8211; with the right precautions, you can sell your property in India safely and efficiently.\">Selling a property in India as an NRI can be a complicated process, but it&#8217;s important to be vigilant and protect yourself from property scams. By being cautious when dealing with brokers, checking their backgrounds, and insisting on a registered agreement, you can avoid falling victim to this common scam. Don&#8217;t let the fear of scams stop you from selling your property &#8211; with the right precautions, you can sell your property in India safely and efficiently.<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"The_Scam\"><\/span><span style=\"font-weight: 400;\">The Scam<\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><span style=\"font-weight: 400;\">The scam in question involves brokers who approach property sellers with an offer that seems too good to be true. These brokers may even offer a slightly higher price than what the seller is asking for, and ask them to sign a Memorandum of Understanding (MoU) or a written agreement. This document is not a registered agreement and gives the broker a time frame of 30 to 60 days to find a buyer.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During this time, the broker will attempt to find another buyer who is willing to pay a higher price for the property, pocketing the difference as profit. However, in many cases, the broker is unable to find another buyer, leaving the seller in a state of limbo. The seller may feel ethically bound by the agreement, but the legality of the document is not binding, which can cause undue stress and chaos.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Consult_CA_Arun_Tiwari_for_more_info_%F0%9F%93%9E_8080088288_or_csaktassociatescom\"><\/span><span style=\"font-weight: 400;\">Consult CA Arun Tiwari for more info \ud83d\udcde\u00a0 8080088288 or <\/span><a href=\"mailto:cs@aktassociates.com\"><span style=\"font-weight: 400;\">cs@aktassociates.com<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/pages.razorpay.com\/akt-nri-tax-consulting\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4212 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/C123.png\" alt=\"\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/C123.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/C123-300x64.png 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_to_Avoid_the_Scam\"><\/span><strong>How to Avoid the Scam<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The best way to avoid this scam is to be vigilant and cautious when dealing with brokers. When approached by a potential buyer, always ask whether they are a buyer or an agent representing someone else. If they claim to be a buyer, check their background, including their social media presence and profession, if possible.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you decide to sign an MoU, make sure to only wait for a maximum of 10-15 days, and clearly state that you will only go ahead with a registered agreement. This will require the buyer to pay stamp duty, which can be a significant amount (6-7% of the property value). Brokers looking for a quick profit are unlikely to go through with a registered agreement, so this is a good way to weed out genuine buyers from scammers.<\/span><\/p>\n<p><a href=\"https:\/\/aktassociates.com\/nri-lower-tds\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4086 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/N-1.png\" alt=\"\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/N-1.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/N-1-300x64.png 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Selling_a_property_in_India_as_an_NRI_can_be_a_complicated_process_but_its_important_to_be_vigilant_and_protect_yourself_from_property_scams_By_being_cautious_when_dealing_with_brokers_checking_their_backgrounds_and_insisting_on_a_registered_agreement_you_can_avoid_falling_victim_to_this_common_scam_Dont_let_the_fear_of_scams_stop_you_from_selling_your_property_%E2%80%93_with_the_right_precautions_you_can_sell_your_property_in_India_safely_and_efficiently\"><\/span><span style=\"font-weight: 400;\">Selling a property in India as an NRI can be a complicated process, but it&#8217;s important to be vigilant and protect yourself from property scams. By being cautious when dealing with brokers, checking their backgrounds, and insisting on a registered agreement, you can avoid falling victim to this common scam. Don&#8217;t let the fear of scams stop you from selling your property &#8211; with the right precautions, you can sell your property in India safely and efficiently.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As an NRI (Non-Resident Indian), selling a property in India can be a daunting task. While the process itself can &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Protecting Yourself from Property Scams When Selling Property in India as an NRI\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/property-scams-when-selling-property-in-india-as-an-nri\/#more-4211\">Read more<span class=\"screen-reader-text\">Protecting Yourself from Property Scams When Selling Property in India as an NRI<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":4217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[107],"tags":[209,208,206,210,207],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Protecting Yourself from Property Scams in India as an NRI<\/title>\n<meta name=\"description\" content=\"This article provides tips for NRIs on how to protect themselves from property scams when selling property in India - By CA Arun Tiwari.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aktassociates.com\/blog\/property-scams-when-selling-property-in-india-as-an-nri\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Protecting Yourself from Property Scams When Selling Property in India as an NRI\" \/>\n<meta property=\"og:description\" content=\"This article provides tips and advice for Non-Resident Indians (NRIs) to protect themselves from property scams when selling property in India. It focuses on a common scam involving brokers who offer a higher price than what the seller is asking for and ask them to sign a Memorandum of Understanding (MoU) or a written agreement. The article offers advice on how to avoid this scam, including being vigilant when dealing with brokers, checking their backgrounds, and insisting on a registered agreement. The goal of the article is to help NRIs sell their property in India safely and efficiently.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aktassociates.com\/blog\/property-scams-when-selling-property-in-india-as-an-nri\/\" \/>\n<meta property=\"og:site_name\" content=\"AKT Associates\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T11:30:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-08T11:17:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2023\/03\/Protecting-Yourself-from-Property-Scams-When-Selling-Property-in-India-as-an-NRI-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"CA Arun Tiwari\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Protecting Yourself from Property Scams When Selling Property in India as an NRI\" \/>\n<meta name=\"twitter:description\" content=\"This article provides tips and advice for Non-Resident Indians (NRIs) to protect themselves from property scams when selling property in India. It focuses on a common scam involving brokers who offer a higher price than what the seller is asking for and ask them to sign a Memorandum of Understanding (MoU) or a written agreement. The article offers advice on how to avoid this scam, including being vigilant when dealing with brokers, checking their backgrounds, and insisting on a registered agreement. 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It focuses on a common scam involving brokers who offer a higher price than what the seller is asking for and ask them to sign a Memorandum of Understanding (MoU) or a written agreement. The article offers advice on how to avoid this scam, including being vigilant when dealing with brokers, checking their backgrounds, and insisting on a registered agreement. 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