Real Estate Fraud in Duitama: How to Protect Yourself from Traps and Scams in theReal Estate Market

Laura Camila Garzón Ávila, Francisco Javier García García and Nelson Javier Quiroz Patiño

Revista Multidisciplinaria Voces de América y el Caribe, 2024, vol. 1, 474-490

Abstract: Context: Real estate fraud represents a growing challenge in Duitama, Colombia, negatively impacting market trust and generating significant economic losses. Objective: This research aims to explore the causes, consequences, and prevention strategies of real estate fraud in the region. Method: Employing a mixed methodology that combines documentary analysis and semistructured interviews with experts and affected parties, this study provides a comprehensive view of the issue. The findings reveal that the lack of adequate regulation, the presence of unauthorized intermediaries, and insufficient buyer education are key factors facilitating fraud, highlighting the need to strengthen supervision policies and offer educational programs for buyers as preventive measures. Conclusions: The conclusions emphasize the importance of implementing a stricter regulatory framework and promoting transparency to protect consumers and improve the stability of the real estate market in Duitama. This study significantly contributes to the understanding of real estate fraud and proposes solutions applicable not only in this region but also in similar contexts.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:cvp:remuva:remuvac.v1i1.37

DOI: 10.69821/REMUVAC.v1i1.37

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