Property scams
How does a property scam work?
The sites vary depending on what they do, but they all share the goal of extorting money from people who are not considering renting, buying or renting. In these types of scams, scammers are often exploited to trick people into providing money or financial information by pretending to be a landlord, real estate agent, property management company, or other real estate-related business, as well as personal information that can be used to steal from them.
How to spot a real estate scam?
- The property itself looks like a scam. Any item you view should look like the images you see online and match the listing description.
- No required information. Scammers often create false information designed to steal your information or trick you into thinking the sale or rental is legitimate.
- The "owner" or "landlord" of the property will not visit you in person.
- Moving companies will not provide you with relocation estimates and contracts.
- Foreclosure Assistance Services will contact you promptly.
- You cannot check whether a real estate company is honest; you can search the internet.
FAQs
Irregular properties, landlords who have not met you in person, and people or companies asking for upfront payment are different from rental properties.
Know the market value of property in your area, and don’t believe any deal that seems too good to be true. Before signing anything, have an attorney, real estate agent, or other qualified professional review the sales contract for inconsistencies and errors.
Besides scams and sales, there are also financial scams, home inspection scams, mortgage scams, fake name and business scams, financial scams, and property scams.