Hidden Truth About Buyer Backgrounds: Investigate Before Selling Your Property

Selling property in Dhaka is a major financial decision, and it’s important to make sure the buyer is genuine, financially stable, and trustworthy. A proper buyer background check helps protect sellers from fraud, delays, and legal issues. Here’s a detailed guide to help you verify potential buyers before finalizing any deal:

Search Online and Check Social Media

Start by typing the buyer’s full name into search engines like Google. Look for any public profiles on platforms like Facebook, LinkedIn, or Instagram. These can reveal:

·         Their profession and workplace

·         Social behavior and interests

·         Community involvement or public reputation

For example, a LinkedIn profile can confirm their job title and company, while Facebook might show how they interact socially. If their online presence seems suspicious or inconsistent, it’s a red flag. This step is a simple but crucial way to begin with the Dhaka property market.

Verify Their Documents Carefully

Ask the buyer to provide key documents such as:

·         National ID card (NID)

·         Tax Identification Number (TIN)

·         Proof of address

·         Employment certificate or business license

Check if the name, photo, and ID number match official records. You can verify NID details through Bangladesh’s Election Commission website or other government portals. If anything looks altered or fake, consult a legal expert immediately. This is a critical part of any property transaction.

Request Personal and Professional References

References can give you a clearer picture of the buyer’s reliability. Ask for:

·         A reference from their employer or HR department

·         Contact details of previous property sellers or landlords

·         A professional reference from a lawyer, banker, or business associate

Speak directly to these references and ask about the buyer’s financial discipline, honesty, and behavior during past transactions. This step helps you avoid dealing with someone who has a history of disputes or defaults. It’s a key element in verifying buyer background.

Work with a Trusted Brokerage Agency

Real estate agencies in Dhaka often maintain databases of verified buyers. A good agency will:

·         Pre-screen buyers for financial and legal credibility

·         Match you with buyers who meet your property transaction terms

·         Help you avoid time-wasters or fraudulent individuals

Choose agencies with strong reputations and positive reviews. They act as a buffer and reduce your risk significantly.

Conduct a Financial Background Check

Before signing any agreement, make sure the buyer can afford the property. Ask for:

·         Recent bank statements (last 6–12 months)

·         Salary slips or business income records

·         Loan pre-approval letters or credit reports

This helps you confirm whether the buyer has enough funds or access to financing. If they’re relying on a bank loan, check which bank is involved and whether the loan process has started. Financial checks are a vital part of the homebuyer background verification process.

Arrange a Face-to-Face Meeting

Meeting the buyer in person allows you to:

·         Observe their communication style and attitude

·         Ask direct questions about their interest in the property

·         Clarify any doubts about their background or intentions

A genuine buyer will be open, respectful, and clear about their plans. If they avoid meeting or seem evasive, proceed with caution. This interaction can reveal more than documents ever could during a property transaction.

Consult a Legal Expert

A lawyer can help you:

·         Review and verify all documents provided by the buyer

·         Ensure the transaction follows local property laws

·         Draft or review the sale agreement to protect your rights

Legal consultation is especially important if the buyer is offering complex payment terms or if the property has any legal complications. It adds another layer of security to your buyer background check.

Ask Around the Neighborhood

Dhaka’s communities are often close-knit, and neighbors may know the buyer or their family. You can:

·         Discreetly ask if anyone has heard of the buyer

·         Check if they’ve lived in the area before

·         Find out if there are any concerns about their behavior or reputation

This informal method can reveal things that documents and online searches won’t. It’s a smart move in any property transaction.

Use Online Real Estate Platforms

Websites like Bproperty, Bikroy, or local listing platforms may have:

·         Buyer reviews or ratings from past sellers

·         Transaction history or feedback

·         Verified profiles with ID and financial checks

While online reviews can be helpful, they should be used alongside other methods. Don’t rely on them alone. These platforms can support your buyer background research.

How Riziq Property Can Help

Riziq Property makes the buyer background check process easier and more reliable for sellers in Dhaka. Here’s how:

·         Verified Buyer Profiles: Riziq Property screens buyers before listing them, so sellers can connect with people who are already verified.

·         Document Validation: We help to confirm the authenticity of buyer documents, reducing the risk of fraud.

·         Reference Collection: Riziq Property can assist in gathering references from employers or previous property transaction contacts.

·         Financial Screening: We offer tools to check a buyer’s financial readiness, including income proof and bank details.

·         Legal Support: Our team can connect you with legal professionals to guide you through the paperwork and legal checks.

·         Local Insights: With deep knowledge of Dhaka’s neighborhoods, Riziq Property can provide community feedback about potential buyers.

·         Smart Platform: Our online system is user-friendly and gives sellers access to buyer ratings, reviews, and buying history.

By working with Riziq Property, sellers can save time, reduce stress, and feel more confident about who they’re selling to.

Doing a buyer background check is a smart step for property sellers in Dhaka. With help from our expert team and these simple methods, you can make better decisions and avoid fraud or trouble. It helps keep the property transaction process safe and trustworthy for everyone.