How to Avoid Fraud When Selling Land in Sri Lanka

 

Introduction

Selling lands in Sri Lanka can involve financial and legal risks if proper precautions are not taken. Fraudulent activities, fake buyers, and informal agreements can jeopardize land transactions. Awareness and professional support are key to a safe sale.

Verify Buyer Identity

Always confirm the identity and financial capability of potential buyers. Conduct background checks to ensure the buyer is credible and serious.

Use Secure Payment Methods

Avoid cash-only transactions. Using bank transfers or legal escrow accounts provides security and reduces the risk of fraud.

Legal Verification of Documents

Ensure all documents, including deeds, survey plans, and tax receipts, are verified and authentic. Legal verification prevents disputes over ownership or land boundaries.

Avoid Unverified Intermediaries

Relying on unknown agents or brokers increases the risk of scams. Use trusted real estate professionals to handle transactions.

Draft a Proper Agreement of Sale

A legally drafted agreement clearly outlines terms, payment schedules, and responsibilities. This protects both seller and buyer from future disputes.

Transparency in Negotiations

Maintain open and documented communication throughout the negotiation process. Avoid verbal-only agreements that may lead to misunderstandings.

Monitoring Regional Regulations

Stay informed about zoning laws, land restrictions, and regulatory updates. Compliance ensures legal security during sales.

Seek Professional Assistance

Experienced agents and legal advisors provide guidance, verify buyers, and handle the paperwork efficiently, ensuring a secure transaction.

Conclusion

Preventing fraud is essential when selling lands in Sri Lanka. With trusted guidance and expert support from Home Lands, landowners can sell confidently, safely, and efficiently.

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