Title
Forged property registers fuel fake listings as verifying public records becomes decisive Reports of fake listings in Seoul rose 34 percent in a single quarter, pushing demand to check property registers and land ledgers directly.
- Связанные страны
- 스위스
Content
Apostille Korea said it operates a bulk issuance service for official property records free of forgery or alteration. Amid rising housing prices in Seoul, some brokerages have been forging property registers to post fake listings. According to the Real Estate Listing Clean Management Center (KISO), fake listing reports in Seoul reached 9,714 in the second quarter, up 34 percent from 7,232 in the first.
- As Seoul housing prices rise, forged property registers are increasingly used to post fake and bait listings.
- Fake listing reports in Seoul totalled 9,714 in the second quarter, up 34 percent from 7,232 in the first, according to the Real Estate Listing Clean Management Center.
- Checking official records is used for confirming owners in large-scale development, ownership changes after development, and rights checks for public auctions.
- Apostille Korea issues property registers, land ledgers and similar records in bulk within a short period and delivers them as PDFs.
Forged registers and fake listings
As Seoul housing prices show signs of rising again, led by newly launched complexes, the methods behind fake listings have grown more elaborate. Cases have surfaced in which brokerages forge property registers to present properties already at court auction as if they were available listings. The purpose is to draw customers by increasing the number of fake and bait listings. Figures from the Real Estate Listing Clean Management Center show 9,714 fake listing reports in Seoul in the second quarter, up 34 percent from 7,232 in the first. In this environment it is safer to check the official records directly than to rely on documents provided by the brokerage. Property registers and land ledgers are the reference documents for confirming ownership and rights.
Bulk issuance and how the data is organised
The need to verify property records is not limited to individual transactions. It extends to confirming owners for large-scale development and redevelopment, tracking ownership changes after development, and checking ownership and other rights on an ongoing basis for public auctions. Apostille Korea uses big data to issue anywhere from thousands to tens of thousands of property registers and land ledgers within a short period, delivering every document as a PDF. Large volumes of property information can be extracted from a single address or business registration number. The extracted information is then compiled into an Excel report in the format the client wants. Because the records are issued as originals without forgery or alteration, they can serve as a reliable reference.
Frequently asked questions
How can a forged property register be identified?
The reliable route is to obtain the official record yourself and compare it, rather than relying on a copy supplied by the brokerage.
When is bulk issuance needed?
It is used for confirming owners in large-scale development and redevelopment, verifying ownership changes after development, and checking rights for public auctions.
In what form are the documents delivered?
Every document can be received as a PDF, and the extracted property information can also be compiled into an Excel report in the format you prefer.
Source: 뉴스컬처 · 2019-08-01