In this day and age, you have to be careful in order to stay protected from all the people who try to take advantage of you. The real estate business is no different, there are con artists out there who are waiting to scam unsuspecting people. In a previous post, we even mentioned what the most common real estate frauds are.
One thing you can do to make sure this doesn’t happen to you, is to look out for signs of potential real estate fraud. In this post, Viking Title, LLC in Mendota Heights will share a few of them with you, so you can keep an eye out for them in your next real estate deal.
How to Spot a Potential Real Estate Fraud
There’s No Face to Face Communication
This is especially common on online deals. Still, you should always try to meet the seller/owner in person. If s/he seems unwilling to do so, step away from that deal.
They Won’t Show You the Place
Some con artists resort to impersonation. They make you believe that they are in charge of selling a real place, when they are not. If the seller won’t give you a house tour, be wary.
They’re Pressuring You Too Much
The real estate business can be very competitive between agents. Still, if you feel like the seller is being too pushy or telling you to “buy now” in order to get a special deal, be careful.
The Information Doesn’t Check Out
You should always check all the references, papers and other information on the property, its owners and its sellers. If anything you find seems off, ask about it or call the whole thing off.
They Ask You to Wire Money
If the seller or owner asks you to pay a large sum of money through a wired transfer, don’t. Wired money cannot be traced back to the receiver which is why scammers resort to it.
There’s Sketchy Behavior
There are other indicators that can make an alarm go off in your head. For example, if the “agent” asks you to sign a blank piece of paper or to skip parts of the process, get out.
For Title Insurance in Mendota Heights…
Another thing you can do to stay protected in a real estate deal is to get title insurance! Here at Viking Title, LLC we provide the service, coverage and guidance you need in case there are any irregularities in the property’s deed that could put your claim in jeopardy. Call (651) 688-2900 to learn about how we can assist you.