How do you prevent being cheated when buying a house?

Question

I've heard about people who paid someone to build a home, and that person disappeared with their money and left the country. Heard about a stint where people paid money for a home in another country, and the company in charge sold them basements and storage instead, and took their money.

Aside for buying a house that exists and not being build, and visiting the apartment for sale and seeing it for myself, what are precautions are there to take?

Chris Seveney · Answer

1. Due your due diligence on whoever is on the other side of the table.

2. Always have a contract

3. Always have that contract reviewed by your attorney and have an attorney involved.

4. Trust but verify

Follow these items and it will resolve 90% of any issues.

How do you prevent being cheated when buying a house?

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