Izvestia
The lawyer named common schemes of deception in the real estate market
One of the main forms of fraud in the real estate market is the upfront scheme. Grigory Skripilev, head of practice at the Intercession law firm, told Izvestia about this on Wednesday, June 9th.
One of the main forms of fraud in the real estate market is the upfront scheme
An equally popular scheme is transactions with inherited property.
The fraudulent scheme looks like this: a property with a price tag below the market appears on the ad site, the victim pays attention to such an ad and calls the seller. The seller in a conversation explains that he received the property in the order of inheritance and justifies such a low price by the urgency of the sale due to the presence of financial problems. The parties enter into a deal, and after a while another "heir" appears, who, allegedly, has just learned about the death of a relative. The “heir” challenges the completed sale and purchase transaction in court, where the fraudster proves his legend that he learned about the death of the testator recently, and the victim - that he is a bona fide acquirer. The court practice in this category of disputes is different, however, the court does not always take the victim's side and “unfold” the deal. Finding a real estate seller and demanding the money paid can be very difficult.

There are also schemes for the sale of the same apartment to several buyers.
In this scheme, an apartment is sold in a short period of time to several conscientious buyers, each of whom is unaware of each other's existence. At the same time, under one pretext or another, buyers are presented with notarized duplicates of title documents. The fraudster urges buyers, explaining the urgency of the transaction with any reasonable excuse. As a result, transactions take place in a hurry, without proper documentation and guarantees for buyers, including in the form of placing funds in a safe deposit box at the time of registration of the ownership of the new owner.

Separately, it is worth mentioning such a scheme as the artificial understatement of the contract price.
The scheme is as follows: The property owner asks the victim to indicate an artificially low price in the sale and purchase agreement under any logical pretext, for example, taxes. The victim transfers the bulk of the money to the fraudster in cash, without any paperwork. Some time after the transaction is completed, the fraudster applies to the court with a demand to declare the transaction invalid. If the court takes their side, the fraudster will be obliged to return the money specified in the contract to the victim, and everything that was paid in excess of the contractual amount will be almost impossible to return.