One of the largest industries in existence is the buying and selling of real estate, and annual losses in real estate scams worldwide add up to billions of dollars lost. If buying or selling a house, commercial property, or land, you need to be careful to avoid falling victim to one.
Real estate investment seminar scams, promising a formula for getting rich in real estate if only one invests, are common during both boom and bust cycles in the real estate market.
Also, be sure to watch for real estate email scams in your inbox.
Other common real estate scams include fraudulent listings, such as pictures and descriptions that aren’t of the property that is being advertised for sale.
Be careful in real estate dealings. Keep an eye on this page to learn about real estate scams as they emerge, and know how to spot them coming. See below:
How the scam works: Scammers use phony letterheads, sending letters to loan borrowers stating the bank handed over the responsibility for servicing their home loans to another company. This was the case with Bank of America customers being informed that their home loans were moved to Great Western Business Services, a phony group created by … Loan Moved to New Company Read More »
How the scam works: You have just bought a small house in Mexico as an investment property. You can’t be there every month, maybe not even every year, so it is necessary to hire somebody local to take care of it. Whomever you decide upon, whether a property manager or somebody presenting themselves as the administrator of a … Mexican Property Manager Read More »
Real Estate Leads/ Mortgage Lead Generation Scam: How It Works (with video below) Mortgage lead generation and fake services. This year, one of the biggest scams around is the Real Estate Leads or Mortgage Leads Generation scam. Let's take a closer look. You come across a company that promises a great opportunity to make money. … Real Estate Leads And Mortgage Lead Generation Scam Read More »
Real Estate Leads And Mortgage Lead Generation Scam Read More
How the scam works: Watch out for the Forensic Audit For Your Mortgage scam, happening these days. Let's say you are in a terrible financial position and it's a massive struggle for you to keep your home out of foreclosure. One day, you receive an email from a company who offers to check your loan documents … Forensic Audit For Your Mortgage Read More »
How the scam works: (with video below) With many foreclosures in the last few years, there are tons of properties that are lying empty. Scammers find these empty places, change the locks, and place an ad online or in the newspapers in the same day, representing themselves as the landlords offering the place for rent. … Fake Landlord Renting Property Read More »
How the scam works: (with video below) You receive an official looking e-mail or letter, informing you that your property tax has been reassessed and is now lower than last year. Scenario 1: The letter might have the letterhead of your city or county offices and contain a self-addressed envelope, with a PO Box, requesting you to … Property Tax Assessment Read More »
How the scam works: After weeks of searching online for a new property to move in, you finally find a place you really love. You call the realtor and he arranges to meet you there. While you're on your way, he calls you and says his car broke down and he won't be able to make it. … Fake Realtor Setting Up Showings Read More »
How the scam works: You are browsing through free real estate listing websites looking for a new home when a certain property catches your eye. As soon as you click on it to find out more information, a pop-up window opens and asks you to register. You create your account as you want to learn more … Real Estate Website Login Read More »
How the scam works: In the United States, a Sheriff's sale is the last step in a foreclosure process. It is an auction held to liquidate a property on which a mortgage borrower has defaulted– it allows banks to recover money lost when a mortgage borrower defaults on a loan. Crooks create companies with the … Recovering Sheriff’s Sales Read More »
How the scam works: After searching for a property to rent, you find one and are asked to sign a contract and put down a deposit. Somewhere at the end of the contract, in very small print, the scammers add: “The deposit will not be returned if the references are not satisfactory” (or that it will … References for Rental Read More »
Rent-To-Buy Scam: How It Works (with video below) There have been a plethora of home buying scams exposed by authorities and our platform in the last few years. Unfortunately, it doesn't seem the trend is stopping any time soon. Although it may sound like a good idea, be aware of the Rent-To-Own Homes scheme (aka … Rent-to-Own Homes Scheme Read More »
How the scam works: You've been renting a house for a few months now and have finally unpacked everything. One day, you come home and find new locks on the door. "That's odd", you contemplate and try contacting the landlord with no success. As you are walking around to the front of the property, there's … How You Can Live In A Foreclosure Without Knowing About It Read More »
How You Can Live In A Foreclosure Without Knowing About It Read More
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