Thursday, March 22, 2007

Broken Dreams and Lost Money

Boy, oh boy, can some folks paint a picture of paradise. And describe it too!. Sometimes they even have nice photos of the place. Places like Texas, Arizona, Florida and Nova Scotia have been victimized. I'm sure other locations as well.

Wet lands described as good building lots with ocean views - except in reality it might be protected from development and the only water close by is under your feet and in your shoes.

Desert lands described as lush, and safe and crime free, and ready to be lived on- except there is no access and no chance for utilities. And no one around for miles to commit a crime.

How about being sold on the idea of the properties being part of a development with services and roads. Well, not a road in sight on the property and services have not arrived and the development plan may not even have been registered or approved or legal.

Even the local populations, when asked, find the land unattractive for ownership. These nice folks call many of these properties "garbage land", or say things like: "I want to meet the person who looks at this (land) and thinks it's beautiful".

Well by grossly misrepresenting many of these lands, sellers (many of whom just bought, and have never been to the properties they describe) are able to play on the sentiments of honest buyers with dreams and plans for the future.

There are countless people with broken dreams, damaged self-esteem and lighter wallets. All the while the misrepresentation of property goes on and on. Properties sell to unsuspecting buyers and dreams are shattered.

The world is more connected today than ever before and buyers are able to purchase property half a continent away with the click of a mouse button. Honest sellers can "show" their properties to an audience inaccessible to them a few years ago. If all works well the buyers get what they expected and agreed to and the land broker or real estate agent has made a sale to persons they may have never come in contact with.

Having said that, there are those who hide behind the distance between buyers and properties, hide behind inaccurate descriptions of the condition, location, and specifications of the properties they offer for sale. The same issue of connectivity that allows honest property sellers to make honest property sales, allows questionable sellers the ability to make misrepresented property sales, and to this point in time, seemingly outside the reach of the law, the interest of elected officials, or the policies of large electronic marketplaces.

What a damn shame.

No comments: