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- Real estate scam artist contractors target neighborhoods with storm damage. They go door to door and offer to help homeowners work with their insurance agent to file a claim to cover the damage. Their next step is to convince the consumer to let them negotiate on their behalf and receive payments for the work to be done.
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Jun 10, 2024 · Real estate scam artist contractors target neighborhoods with storm damage. They go door to door and offer to help homeowners work with their insurance agent to file a claim to cover the damage.
- Fake listings and Craigslist real estate scams. To create fake listings, scammers craft property ads that feature properties at unrealistically low prices.
- Wire fraud and escrow scams. Escrow arrangements are attractive targets for scammers. They might call, send you an email, or text you, claiming that they represent your title or escrow company.
- Foreclosure relief scams. In a foreclosure relief scam, con artists contact homeowners whose lender may have begun foreclosure proceedings on the home.
- Deed fraud. Deed fraud is when someone steals your identity, forges your name on a deed, and tries to commit home title theft. What’s really scary is that you might not discover this type of fraud until you try to sell your home.
What is a real estate scam? Real estate scams involve fraudsters pretending to be real estate agents, lenders, or any individual supposedly engaged in the real estate transaction process to steal money, sensitive information, or even your home title through deception.
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Sep 22, 2022 · “A buyer, aka the con artist, who seems to be in a hurry to close the deal may pressure you into a contract with a hold clause that bans you from selling your home to anybody else.
- “We Buy Houses” Scam. Have you ever seen a flier tacked to a telephone pole declaring, “We buy houses” or “We buy ugly houses”? Or, if you’re a homeowner, received a postcard from a company offering to buy your house for cash in just days?
- Foreign Cash Buyer Scam. Some so-called cash buyers don’t actually want to buy your home at all. Instead, they’re working a variant on the old overpayment scam often seen with credit cards and utility bills.
- Home Inspection Scam. Getting a home inspection is a crucial part of buying a home — especially if it’s a fixer-upper. A professional home inspector goes over every part of the property to detect problems that aren’t always visible to the naked eye.
- Escrow Wire Fraud. When you take out a home mortgage, you often have to make an upfront payment known as earnest money to prove your intentions are serious.
Jun 17, 2024 · Real estate scammers can target anyone involved in a real estate transaction, including buyers, sellers, owners, and renters. It’s important to be familiar with the different types of scams you might encounter so that you know how to protect yourself.
May 28, 2024 · Business email hacks and wire transfer fraud. By far the most common scam, this is when your real estate agent or title company’s email gets hacked, revealing your information and closing details. The scammer will then impersonate the seller, asking the title company to wire transfer the escrow funds to the scammer’s account instead.
