It happens far too often. You find a home you want to buy, you contact the “seller,” and you arrange to look at the house. Maybe you put in an offer. Maybe you even pay a down payment. And then suddenly the seller disappears, and you discover the home wasn’t theirs to sell in the first place.
These real estate scams are becoming more and more prevalent, especially with the increase in for sale by owner homes. There are some ways that you can protect yourself from real estate scams.
Pay Nothing to See a Property
You shouldn’t have to pay anything to see a property for sale. If someone is requiring you to send them money to confirm your appointment to look at the property, this is a huge sign that you are being scammed. In these situations the money is usually sent to the “seller,” who then takes the money and runs, with no one at the property when you arrive.(more…)