Paying for properties that don’t exist.
Sounds like a nightmare right? Well, a lot of people have been tricked into such REAL ESTATE scams. So here are 3 major real estate scams you need to be careful about in 2022!1. Wire Fraud Scam
Scammer may pose as your real estate agent or title company and trick you into wiring the closing funds to a fraudulent account. Make sure you verify all credentials before making the transaction.2. Commercial Real Estate Scam
These come in multiple forms, from forged documents to misrepresentations of funds, for example: posing to represent the owner of a property and collecting funds on their behalf.3. Title Or Deed Scam
A very serious fraud, in which the victim could lose their home. It involves the involuntary transfer of ownership without the owner’s knowledge. Have you come across any such scams? Comment below so we all can avoid them.What are you waiting?
Here’s a 4 point rule to avoid real estate scams:
- Consult a licensed professional
- Keep your personal information secure
- Avoid upfront fees
- Avoid off-market transactions, if you must, verify and work with someone who is experienced.