Unfortunately, real estate scams are something that you need to watch out for. Here are the top three real estate scams you need to avoid.
Whether you are looking to buy or sell a home, there are three common real estate scams that you need to watch out for.
The first scam involves false wiring instructions, which can happen to you whether you are looking to buy or rent a property. The internet is a broad place, and scammers can find out if you are looking for a home. If and when they do, they will reach out to you by impersonating a real estate professional and give you instructions to wire them money to an unknown bank account.
The second scam involves Craigslist. In this case, scammers find vacant homes and list them as “For Rent” or “For Sale” on Craigslist. Once somebody responds to their ad, they will once again give instructions for wiring them money. If you see a property on Craigslist and its rent price or sale price is very low for the area it is in, that might be a scam.
The third scam involves moving trucks. In this scenario, the scammers find out that you are moving and then contact you offering to help. They will then give you a price quote that might sound a little too good to be true. On the day of your move, they will pack up all your belongings and agree to meet you at your new home…except they never arrive at the home. Instead, they steal all of your belongings.
How do you avoid falling for these scams? The answer is the same for each situation: talk to your real estate agent before you do anything and always vet who you do business with. You can always go online and visit websites like Yelp, Zillow, or Angie’s List to verify a person’s credentials or a listing’s validity.
As always, if you have any questions about this or any other real estate topic or you are thinking of buying or selling a home soon, please feel free to reach out to us. We would love to help you.