Safe Buying & Selling
We take all the necessary precautions to ensure that our platform is a safe place for property sellers and buyers to transact. However, since we are not involved in the actual transactions, we offer these key tips to stay safe.
Safety Tips For Property Buyers/ Tenants
- Insist on speaking directly to the seller on the phone. Most online scams are conducted via email or SMS only.
- Speak to the seller more than once. Confirm their telephone number so that you can call back with follow up questions.
Look out for:
- Property advertised with prices that are significantly below the market value. If the deal sounds too good to be true, it probably is.
- Similar advertisements made for the same property elsewhere at a different price, the scammer may have replicated a genuine seller’s advertisement and altered the contact details, then lowered the property’s price to entice victims.
- Send money through a wire transfer or mobile banking service to people you do not know or trust.
- Send your personal or financial details to a seller.
- Agree to go on meeting sellers in a private location. Insist on meeting in a safe well lit location. Preferably where CCTV is available and agree on how to move to where the property is located.
- Insist on speaking directly to the buyer on phone. Most online scams are conducted via email or SMS only.
Look out for buyers who:
- Hurriedly make an offer before inspecting the house/land, genuine buyers are thorough before making any offer.
- Make an offer that is higher than the set price in the pretence that they want to buy quickly. A genuine buyer will always want the best price they can get.
- Claim to be agents buying on behalf of someone else.
- Share your personal details, account details, Mobile money details or banking information.
- Share your NyumbaOnline login credentials.
- Reveal the current location of the property.
Closing the Deal;
- Know how much you’re willing to accept and prepare to negotiate to a minimum price.
- Don’t take your ad down until you are certain you have received payment from the buyer – it won’t cost you anything to have it up longer.
- Don’t rely on “proof” of payment from the buyer. Check with your bank or other provider that the money has been cleared and you can see the funds in your account before parting with your item.
- Only accept cash inside the premises of your bank where potential fakes can be checked or so you do not carry large amounts of cash in public after a sale.
- Beware of forged bank cheques. Electronic transfers which can be confirmed by your bank are the safest option. A genuine buyer will never object.
- Give the buyer a receipt to confirm you’ve received their payment.
- Insist on a receipt and agreement from the buyer confirming payment completed.
Please note that NyumbaOnline will NEVER contact you to ask you for account or personal details.