Police are issuing a stern warning to would-be homeowners to be on guard against unscrupulous real estate agents who are taking advantage of more and more people – particularly single mothers.
“Commercial crime is a growing concern because more people feel that they can get away with it,” Police spokesman Assistant Superintendent Hulan Hanna said. Police say they have arrested a 37-year-old man of Yamacraw Beach Estates and plan to charge him before the courts tomorrow for stealing “by reason of service.”
It is alleged that the man received more than $25,000 as down payments for properties in various sections of New Providence, but the deals never materialized. Some of the property – police say – were sold up to three times before. The man was charged on similar counts almost two years ago.
Police reported 158 similar cases for the first six months of the year.
But there are more serious “rip-off” agents out there who are raking in huge sums of money, according to police reports.
According to Assistant Superintendent of Police Drexel Cartwright, who heads the Commercial Crime Unit, such crimes have increased “tremendously” in New Providence in the last two years.
“We have had a whole lot of matters involving real estate schemes, and upon investigations persons were convicted for claiming to be real estate agents,” Mr. Cartwright said.
He said some culprits have office locations, but are really not conducted any legitimate business.
“This is an ongoing business for some people,” he said. “It is like a rip-off scheme on poor people.”
Maude Rolle, a 30-year-old single mother of two, knows the feeling of being ripped-off all too well.
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“I sacrificed for months and months to earn enough money for a down payment on a home,” Ms. Rolle said. “After being turned around so many times by banks and realtors, I found someone who offered me a good deal, one I thought was good.” She said the man had what she thought was a legitimate company staffed by several workers. He told her that she qualified for a two-bedroom home with a $3,000 down payment.
“The man provided me with an application and a receipt after I paid him,” she recalls. “Since then I waited for months for a response. After no response, I decided to call the police to investigate the matter and have them located the man.”
Police found who they believe the culprit. He is out on bail.
There are ways that people could avoid falling prey to such scams, said David Morley, president of the Bahamas Real Estate Association.
Potential homeowners should always ensure that their realtor is licenses before turning over money, Mr. Morley said.
“If Bahamians want to invest their money with someone who is holding out to be a realtor but is not licensed they are taking a tremendous risk,” he said.
Mr. Morley’s association has been running ads warning against bogus agents.
“It is sad that individuals have been able to conduct real estate transactions without having to give evidence that he or she is a licensed realtor,” he said.
Police say that are also concerned that phony building contractors are also taking advantage of people seeking to have their own homes built.
“There are fraudulent matters and stealing going on and in that regard, services of the officers of the Commercial Crimes Unit have become increasingly important,” police spokesman Hanna said.
