24 Mar '14, 6am

#Property tips for senior citizens #CEA #50PlusExpo

SENIOR citizens often fall victim to predatory opportunists out to con them. They are likely to be very vulnerable when it comes to high-value transactions such as real estate, where a deal can run into millions of dollars. Last month, an ex-property agent went on trial for allegedly misappropriating more than $500,000 of his visually impaired elderly client's money. The client apparently signed some cheques and entrusted the agent with the money, believing that it was needed to facilitate the sale of his condominium unit and the purchase of a smaller flat. Fraud is not the only worry for the elderly. Retired home owners wishing to earn extra income by leasing out a room also have to watch out for rental scams. For instance, their agents may try to collect rent from their tenants and keep the money for themselves instead of passing it to the landlords. To prevent seniors f...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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