👉 It’s great that you’re being cautious about potential real estate scams. Real estate scams can take various forms and target both buyers and sellers. Here are some common real estate scams to be aware of:
👉 Rental Scams: Fraudsters might pose as landlords, advertising properties that are not actually for rent. They might ask for a deposit or rent payment upfront, disappearing once they receive the money.
👉 Foreclosure Scams: Scammers target homeowners facing foreclosure, offering to help them save their homes for a fee. They may promise to negotiate with the lender on the homeowner’s behalf but fail to deliver any real assistance.
👉 Title Fraud: Scammers may fraudulently transfer the ownership of a property by forging documents. They might then sell or mortgage the property without the true owner’s knowledge.
👉 Phishing and Email Scams: Scammers send emails that appear to be from legitimate real estate professionals, asking for personal or financial information. Always verify the sender’s identity before sharing any sensitive information.
👉 Fake Listings: Scammers create fake property listings, often at attractive prices, to lure in potential buyers. They might request an upfront payment or personal information before revealing property details.
👉 Escrow Fraud: In this scam, scammers pose as real estate agents or escrow companies and provide false wire transfer instructions for closing costs or down payments. Always verify instructions through a trusted source.
👉 Bait-and-Switch: Scammers show a property to potential buyers, then switch to a different, less desirable property once interest is shown. This is often done to manipulate buyers into making a purchase.
