Encountering property fraud can be one of the worst experiences in your life. Knowing how to identify these scams can help your family to avoid unnecessary loss and litigation
One of the oldest fraudulent practices includes the added scam of identity theft. By co-opting existing listings, clever scam artists follow the bids that property buyers put in on listings and then respond using the name and identity of the actual seller. They usually ask to meet in person and leave real estate agents out of it under the premise of not wanting to pay an agent.
When pretending to be a homeowner or an agent doesn’t satisfy them, many con artists will even form fake realtor companies. Like the deception used to make you believe they’re an agent, they find abandoned properties and make them just presentable enough on the surface to be believable. They try to get you to commit without visiting the property personally, and any wear you catch may be brushed aside when they present the property as a fixer-upper.
