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Tips to Identify Real Estate Property Scam From a Costly Deal

Whenever you are going to make a real estate property deal, then carefully lookout for a possible scam. Some of the important hints to identify a property scam are 100% financing, any upfront fees, and thoroughly read the papers to spot any spelling mistakes. See this slideshow to know more tips to identify real estate property scam from a costly deal.

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Tips to Identify Real Estate Property Scam From a Costly Deal

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  1. TIPS TO IDENTIFY REAL ESTATE PROPERTY SCAM FROM A COSTLY DEAL

  2. Real estate investing involves finding deals big enough to make money.

  3. As the competition is very high, you need to quickly close deals.

  4. But how to differentiate between a scam & a real deal?

  5. Here are the tips to identify a real estate property scam.

  6. 0 100% FINANCING

  7. 100% financing does exist but not for your first property deal.

  8. Genuine lenders will be apprehensive in financing 100% of the deal.

  9. You need to at least secure the down payment for the property.

  10. If you have a hard time selling it, then it wasn’t a good deal.

  11. UPFRONT FEES

  12. Any fee will be collected at the closing table with the appraisal fee being the exception.

  13. Lender gives a loan based on the appraised value of the property.

  14. However, there is no such thing as insurance on a loan.

  15. All the fees are paid at closing when the loan is being funded.

  16. 0 SPELLING MISTAKES

  17. Prominent sign of fake deal is mistakes in communication.

  18. If you observe glaring spelling mistakes, then it is a scam.

  19. The sentences in the email will not be making any sense.

  20. Legitimate money lenders will make perfect communication.

  21. FINALLY

  22. Never feel pressured to close any deal without proper research.

  23. Properly vet any lenders who approach you to fund your property deal.

  24. 0 THANK YOU www.landwin.com

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