Real estate scams are still lurking in various sites online and some people still fall prey to these suspicious ads. A recent report states that a new scam traps people into signing a rental agreement only to realize later on that the house was owned by someone else. How can you protect yourself from such kinds of scam?
A new scam is making rounds on the Internet and you might be one of the victims if you do not exercise caution when looking for properties online. According to Realtor.com, con artists are now posing as real estate agents who rent out vacant homes owned by other people.
The publication notes that some people still fall prey to this scam, especially those who are struggling with their finances and are looking for cheaper homes to rent. It would, therefore, be wise for one to notice whether an ad is too-good-to-be-true or if the rental price does not seem to add up to the house being advertised.
Con artists reportedly look for vacant homes in the neighborhood or try to search for homes repossessed by lenders through property records posted online. They would then go to the property itself, change the lock and begin searching for their victim.
In Las Vegas alone, about 2.1 percent of homes or 13,360 properties remain vacant. The incidence of vacant homes being occupied by "squatters" or those who are staying in the property illegally has increased over three years. The Las Vegas police department has received 4,458 squatter-related calls in 2015, which was 24 percent higher than 2014 and 169 percent higher than 2012.
As previously reported here on Realty Today, home sellers can still find ways to protect their vacant homes from trespassers.
Insurance is one of the things sellers can do if they no longer have the means to stay there and protect their house until a buyer moves into the property. Homeowners can also equip their houses with security systems, especially the newer ones that can be controlled remotely, in order to give you some peace of mind.
