Fox News has reported about the common scams that happen in real estate deal.
First that a home buyer or home seeker should pay attention to is buying a house that has a Fixer-Upper. Though some sellers are honest and true to their word, and gives you a win-win deal, since the house needs a rehab. But there are those who simply "promise to knock a little off the asking price if you sign a document saying that you'll close on the place quickly and forego an inspection" when you negotiate with them with the condition of the property. This kind of arrangement should set the alarm off. Pay attention that if a seller offers the property as-is, most likely than not, there's a "major problem beneath the surface." So, to keep you from getting into a major disaster in buying a house, don't dispense your right to get a professional inspector to look the place over.
This next type of scam is for those home owners who are facing foreclosure issue. Beware of the foreclosure fraudster. What is their scheme? This person would come to you, and they tell you that "they can offer a helping hand, like a loan modification that can help you save your home. All it will cost is an up-front fee - maybe a few hundred dollars - and they can help you save your home." But in the end, they will run away with your money. If someone offers you a help and charge you with money, then simply decline the offer. There are some services that you can avail for free and they will hep you with your foreclosure problem.
It is not only the homebuyers or sellers who are the target of scam, even those who are looking for a place to rent. One thing that you should pay attention to is the long-distance landlord scam. This type of fraud is stealthy. Their Craiglist ads seem legit, the pictures attached are very impressive plus the place is just the right price for you. But the catch is that, the landlord is out of town for a month, and he can't meet up with you right away to show you the apartment. But then he gives you the assurance that you can have the place, and you just need to wire the deposit. Before you do so, you better insist to check the place before giving any deposit.
The Tampa Tribune has a report on this type of scam. A guy with a fake name of Cliff Brown, pretended to be a real estate agent, has scammed a couple who is trying to rent a property that is not listed in the market for a rental fee. The couple fell for the guy's scheme, and fake agent has taken their deposit and ran away.
The scam is very simple, the person (and there are a number of them) finds an empty or abandoned property, and then advertise the place as for rent on Craiglist.
So to avoid this kind of problem, always check the agent's background including the property. You also have to make sure if you are dealing with the right landlord when you want to rent a place.
It is wise to take extra precaution when making a real estate transaction. It is one way to keep yourself from falling for real estate scams.
