Home buyers should read/ fake sale of housing, a new phenomenon of fraud!
According to Tejarat News, the fake sale of housing is apparently a new phenomenon of fraud in the Iranian real estate market, and many market participants Housing They say that some of these transactions are formal and are done with the collusion of the business owner and the seller.
Young Journalist Club reported, “Sham sale of houses is the new method of fraud in the housing market. These days, if you look at the real estate ads, you will come across hundreds of ads for the sale of houses with a mortgage condition, but real estate market activists say that many of the deals are fake and are done with the purpose of terminating the contract and getting a heavy amount of damages!
“Become a house owner in Tehran with only 500 million tomans”… “We will house you with 300 million tomans”… “Buy a house from you, mortgage and loan it with us!”
These are the sentences that can be seen in many housing advertisements of Tehrani entrepreneurs. Entrepreneurs who claim to make people landlords with the lowest liquidity.
With a little search in Tehran real estate ads, you will find that most of these ads are related to the 22 district of Tehran and around Chitgar Lake, and a large part of these ads are related to properties in Andishe Karaj or Pardis area, but you can also find such ads in other areas of Tehran. find.
In these ads, it is stated that part of the money for buying a house is provided by customers’ cash flow, part by bank loans, and another part by real estate companies through house mortgages, and usually low prices are mentioned for these types of houses in order to attract customers to these ads. which is actually only the buyer’s cash share and not the total price of the property. This is not the end of the story, and according to real estate market activists, many of these deals are fake.
Victims of housing poverty
According to the report of the country’s real estate system, the average price per square meter of Tehran housing reached 39 million and 414 thousand tomans in June this year, which indicates a 32.4% growth compared to the same period last year and an 8.4% growth compared to May this year. . The continuous rise in housing prices and, as a result, the continuous decrease in purchasing power, has caused the behavioral pattern of many buyers of the Iranian housing market to change in recent years; From the boom in buying old and small houses to loaned houses and loaned houses on the condition of rent.
In the meantime, the high amount of the right to cancel the real estate contract in Iran has caused fake housing transactions to occur in the Iranian housing market. The story that you will read below is the story of one of the victims of these fake transactions who has provided us with the documents of the transaction and his complaint:
“I found a house on the side of Majidieh and I wanted to buy it. I was not familiar with the details of the transaction contract, but it was a good situation for me, because I was supposed to pay part of the money for the house in cash, part of it was a bank loan, and the other part that I had less was financed through the mortgage of the house, but the collusion between the owner and the seller worked. He gave me his hand.”
This person, who introduces himself as Khakpour, explains that the house purchase affidavit was prepared in such a way that it was possible for the buyer to avoid it, and since many customers of the Iranian housing market are not familiar with the legal issues of drafting the contract and do not use a lawyer in their transactions. They create a good situation for fraudsters. Khakpour explains: “As I said, the money to buy the house was supposed to be provided from three sources: cash, loan and mortgage, and naturally, like all transactions, the right of termination was considered so that whoever could not arrange the money or wanted to disturb the transaction, 25% of the value of the transaction stated in the affidavit. According to the value of the property we are dealing with, this 25% would be 270 million Tomans.
He continues: “I had paid the down payment, a bank check was also ready, but the banker refused to hand over the key to me on the pretext that the house was not legally registered in the name of the buyer and promised to mortgage the house himself until the last installment. “My money, which was the same as the amount of the house’s mortgage, was settled on the day of notarization and registration of the document, but one day before the appearance at the notary’s office, the broker informed that the house was not mortgaged, and the broker and the seller demanded the right to cancel the transaction.”
Khakpour emphasizes: “It was only there that I realized that the affidavit was drawn up without legal details and unfairly, and the banker could easily not mortgage the house so that the deal would fall apart and I would have to pay a large cancellation fee.” In the affidavit, there was not even the condition that the banker is obliged to mortgage the house, or there was no mention that the seller should cooperate with the buyer in the mortgage of the property and give me the key so that I can mortgage it myself.”
This story seems to be a new phenomenon of fraud in Iran’s real estate market, and many real estate market activists say that some of these transactions are fake and are done with the collusion of the owner and the seller in order to divide the loss of the transaction between them.
Tehran Real Estate Consultants Union rejects collusion
According to the law, it is the responsibility of the buyer and the seller to determine the amount of damages for the termination of transactions and according to the agreement that is formed between them, and this figure is usually heavy in the Iranian housing market and creates enough incentive for fraud.
However, Hossam Aqabai, the vice-chairman of the Real Estate Consultants Union, says: When a person buys a house, if the real estate consultant prepares the contract and completes it, he receives a commission from both ends, but when the deal is terminated, he receives a commission from only one end. receives, so the cancellation of the transaction is to the detriment of the real estate agent and it is not reasonable to try to cancel it. In addition, when there is also a mortgage in addition to the sale of the house, the real estate consultant can receive two other commissions and this creates additional income for the investor, so there is no justification for not wanting to complete the transaction.
He continues: At the moment, mortgage options in the housing market are very few and the demand is high, and with this account, it is unlikely that a house will be put up for mortgage, but there is no demand and it will not be mortgaged. It is illogical and unnatural for the house not to be mortgaged.
Trading in the company is illegal
Nemat Ahmadi, a lawyer, in response to this issue, does not consider the possibility of such a collusion to defraud people and considers the solution to the problem to be very simple. Ahmadi explains: Real estate transaction in real estate companies is a wrong way, but it is common in Iran’s real estate market, and real estate transaction companies without any expertise, sell their rooms and under stairs. So far it’s not a problem, because anyone can have a job. The problem starts when these companies act against the registration law.
According to him, according to Article 22 of the Registration Law, every property that is registered in the registry office determines the owner. Article 46 of the same law also emphasizes that any type of contract for real estate that has been registered in the registry offices must be official, whether it is a lease, deposit, settlement, sale or… so if this law, which is also in place, is implemented, similar events will occur. “What we are witnessing does not happen, but the government does not reach out to the real estate transaction companies, and if the judiciary intends to fight against real estate transaction frauds, it should only implement this one law to eliminate the fraud in this market.”