How to avoid real estate scams

Unfortunately, because of the growing real estate system, there are many ways to get scammed that can fool even the smartest of people. These scams are becoming more prevalent, and can have a grievous affect on your hard earned savings.  If you are in the market to buy or sell real estate, here are some ways you can avoid the misfortune of getting conned.

 

Be careful who you trust

Sadly, the person you think has your best interests in mind could be the one who fools you the most.  When you put your trust in someone, you tend to let your guard down.  Try to keep on your toes and be aware that some may try to take advantage.  Always seek advice from several outside sources who are informed and trustworthy before making any major decisions.  Doing a little research on all people involved in any transaction to make sure they all have proper licenses in check with regulations made by your state is always a good precaution to take.

 

Get it in writing

From the very start of your real estate endeavor, get everything in writing that you can.  Any resistance to this idea could definitely be considered a sign that someone is attempting to scam you.  Equally important is to make sure you understand everything that you are signing.  There might be an overwhelming amount of fine print to read so bringing in a professional could be very helpful for you.

 

If it seems too good to be true, it probably is

One of the go to tricks of scammers is to falsely offer a deal that, on the surface, appears to be an incredible opportunity coming around once in a lifetime.  Chances are there is a hidden catch, or the offer is a creative attempt to get something of value from you without giving anything in return.  It’s a good idea to exercise great caution when one of these deals comes your way. Try to avoid paying for anything without receiving the goods or services you are paying for first if possible.

 

Use common sense

It is likely that if you find a reputable real estate agent, you will never feel like something is off. For example, a good agent will never tell you that they are out of the country and cant show you the property yet, but ask for rental applications and credit check fees.  The offender could also steal information from actual real estate agents and try passing it off as their own.  These fake ads can be very convincing and are a popular trick that has fooled many.

 

We hope this post will help keep you safe in your future real estate decisions. If you are looking to move in the Kansas City area, please give us a call at 1-816-561-0622. We would love to help find your next dream home!

Prime Realty Group is a locally owned, full-service real estate brokerage headquartered in the heart of Kansas City. We specialize in Property Management, Maintenance & Preservation, REO Valuation & Marketing, and Investor Acquisition Services.

For this and other blogs, check out our website at primerealtygroupkc.com. Prime Realty Group is a locally owned, full-service real estate brokerage headquartered in the heart of Kansas City. We specialize in Property Management, Maintenance & Preservation, REO Valuation & Marketing, and Investor Acquisition Services.