How To Identify A Real Estate Scam

November 11, 2013

Any illegal business activity that is designed to steal money constitutes fraud. Unfortunately, the real estate market is equally susceptible to fraud committed by con artists and legitimate professionals. Though there will never be a shortage of swindlers busily devising ways to defraud you, in real estate transactions there are steps you can take to protect your credit rating, identity and future security. 

The language and practices of real estate are unfamiliar to those who aren’t trained in it, making scams like “Rent-To-Steal”, “The Million Dollar Dump”, “Take The Money And Run” and “The Straw Man Swindle” as easy to commit as mortgage, housing equity, title and short sale frauds committed by licensed professionals in the real estate field. While it may seem intimidating to know who to trust, remember is that knowledge—and a certified, referenced Realtor® are powerful tools in protecting yourself.