Alarm has been raised by members of the public when it came to light that details of real properties listed for sale on some of the UK's biggest for sale websites are being recycled and given price reductions in a scam to obtain private information from prospective buyers.
It is believed that scammers have been advertising properties for sale at a lower price and often the real property pictured isn't in the location the advertisement claims. It is reported that scammers are placing these fake advertisements on the website which refers to itself as being 'The Worlds Biggest Free Property website' in an attempt to gain private information from members of the public that they would not usually disclose. It is understood that the scammers are based in Nigeria, however there has been no suggestion that the Property Sell website is in on the scam only that it has been used as a platform by the fraudsters.
False property advertisements have received a lot of media attention over the last few months with BBC Watchdog reporting on customers falling foul to fake hotel listings on the hugely popular Airbnb website. Needless to say consumer confidence in online advertisements is going to be affected.
It remains to be seen how Estate Agents will respond to the scam and whether tighter measures can be implemented to stop information being taken from their adverts. For now prospective buyers are being warned to stay vigilant and not to make contact if they are directed straight to the alleged seller. If they see properties that are listed at a price that appears too good to be true then it probably is.
Read the full article published by Property Industry Eye here.
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