Property fraud is a growing problem in Australia. But what happens when you find out your property loan has been misused, and you are left with the debt? In this situation, its better to take help from Melbourne conveyancer.
In this article, we explore some of the ways property fraud occurs, who is responsible for paying back debts after a property fraud and what steps you can take to protect yourself against it.
Talk to your lender
If you're concerned about property fraud, talk to your lender. Ask them if they have a policy on property fraud and whether or not they have a list of Melbourne conveyancer they recommend.
If so, ask if they can help you find one. If not, the next step is to ask them who in their organisation would be responsible for finding a conveyancer and see if that person can help out.
Use a conveyancer
A Melbourne conveyancer is a professional who knows the law and can help you understand your rights, so they can be an excellent ally if you're entering into a contract involving property. They will also work with you to avoid fraud.
Conveyancers are not lawyers; they're not real estate agents or mortgage brokers either. Conveyancers are professionals who specialise in property law only, so if you have questions about other types of contracts (like buying a house) then it's best to ask someone else for advice.
When it comes to property fraud, having a conveyancer on your side can mean the difference between saving thousands of dollars or spending tens of thousands more than expected because they know exactly what needs to be done when problems arise during negotiations between buyer and seller.
If you suspect fraud, contact your lender immediately. As a lender, it's important that you are aware of any suspicious activity on your client's account and make sure to follow up with them. If you're a conveyancer, be sure to check that all the documents presented by your clients are accurate and complete.
If you're buying or selling property in Australia—and the responsibility is yours—the best thing to do is get educated now before anything goes wrong!
Keep an eye on your bank statements
Fraudsters may also try to contact homeowners by email, phone or letter. Keep an eye on bank statements and other correspondence from financial institutions, mortgage lenders and other relevant parties.
If something doesn't look right, contact your lender immediately and report the problem. If you are suspicious of fraud, notify the police as soon as possible.
It’s important to know that property fraud is a serious crime. You can help protect yourself and other people by reporting suspicious activity to the police. If you think you or someone else has been a victim of this crime, report it immediately and take expert Melbourne conveyancer help so that the perpetrators can be caught and prosecuted appropriately.