how to spot real estate scams
People also ask
How do real estate scams work?
Real estate scams are incredibly varied. Con artists can pose as homebuyers, real estate agents, home inspectors, lenders, or landlords. They can target buyers, sellers, owners, and renters. And they can reach out to you through advertising, email, or phone calls.
Are You a target of a real estate scam?
Real estate scams can also target homeowners hoping to sell their homes or refinance their home loans. Owners or buyers of commercial property can also be targets. Even renters aren immune. Basically, anyone who has a home or is looking for a home ?or any other kind of property ?can be a target of a real estate scam.
What to do if you get scammed when buying a house?
The scammer was never the real homeowner and the lender has no legal claim on your property. To clean up the mess, call the lender and any other companies involved in the fraud, and put a fraud alert on your credit report. Then report the crime, as discussed below. You can also protect yourself when buying a property by performing a title search.
How do you identify an online rental scam?
Rental scams can take several forms. Some copy a genuine rental listing, replace the landlord contact information with their own, and list the ad on another site. Others include the real contact information but divert the landlord emails to their own address.