Handy Tips To Avoiding Real Estate FraudSeptember 23, 2013
- Educate yourself on the language of real estate and its basic concepts.
- Engage a licensed Realtor®. Research their credentials to ensure you’re not defrauded by a “licensed thief”.
- Use common sense. Legitimate organizations or individuals don’t offer low-risk, high-return opportunities, promise you’ll “get rich quick”, guarantee to stop foreclosure or offer to buy your home for cash at unrealistic prices.
- Safeguard yourself. Never send money to an organization or person without proof of legitimacy. Never do business with someone who you can’t meet in person or provide financial information by telephone or mail.
- Don’t be pressured into a real estate transaction or paying an advance fee.
- Be alert to unconventional business practices. Offers to fill out paperwork for you, requests not to contact lenders or lawyers, transferring property deeds, or payments to an individual instead of a lender are earmarks of fraud.