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You probably have come across zack Childress materials when seeking for training in real estate. Zack is a 36 old real estate entrepreneur that has made millions in real estate within a very short time. He discovered a way to turn up a profit quite fast in the industry. Having started the business without much in his bank account Zack learnt the loops and tricks of the business from his Huntsville Alabama home and the Florida real estate market in general.
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Many people yield to real estate scams that are available in several sites online. In fact, some individuals are carried away by suspicious ads. Certain reports also suggest that people are made to sign a rental agreement.
Unfortunately they will come to know only at a later time that the property was the possession of some other person. So the need of the hour is to safeguard ourselves from these scams.
There are still some individuals who are victims of this scam. This is particularly in case of those who are having problem with their money. They may be people who are scouting for cheap properties. Hence it becomes necessary to observe whether an advertisement is really good that it can be believed.
What do these con people exactly do? They would scout for vacant properties in the vicinity or attempt to look out for repossessed properties by lenders. They would reach the place of the house eventually and change the specific lock. After this they will be on the keen lookout of their victim.
Con artists also give stress on you to transfer them amount which cannot be traced later. So such upfront deal is generally a sign that you are falling in t he trap of a con artist.
Con artists will show out as though there are very busy and they will avoid the important documents. They also conveniently go away, not able to being found by you or the police.
The key is that what you are dealing with is a business deal and finally you should not trust individuals just because they are so nice and courteous.
However, home sellers are in a situation where they can find solutions to safeguard their vacant properties from trespassers. When the seller is not residing in the property anymore they can safeguard their property through insurance. This they can do until another buyer stays in the home. Security systems are also one of the best things the sellers can depend upon.
Generally people won’t sell their property often and so the Craiglist scam would be news to them. Craiglist scam is one scam that had become commonplace some time back; scammers utilize your marketing images with the idea of trapping potential renters.
Renters eventually yield to what the con artists are doing and send their rental money to the contact, who can even be out of the country. The scammer gets hold of the sum and escapes without any trace, as mentioned earlier.
You should see whether the house is being rented for a whopping price
When the landlord says that he is unavailable to contact you in person then take extra care.
In case you get to know that the home advertised for sale also comes under the purview of listing for sale then don’t hesitate to ring to the real estate agent. By doing this the scam will be exposed in no time.
If you come across these things jotted down below, then think twice or even more :-
The sense of urgency – when the person seems in a hurry to close the deal immediately.
The home appears to have someone else’s personal possessions.
The rental sum is lesser than the going rate for the neighborhood.
If you are asked to hand over money before anything else happens.
There is a purchaser from another country and he calls you to assist him buy one or more posh homes in the area. The person says he is affluent, and he is from an affluent family. Also, he projects an image that money is not a major issue.
The person conveys his plan to relocate to the vicinity because he is a surgeon at a hospital in the area. The purchaser in fact makes a visit to the area, arranges for a meeting with you, and claims that he is residing in a nearby luxury hotel. At some juncture, the purchaser heads for the home and the buyer’s relative is desperate requiring your financial help just until the buyer could be reached.
Be cautious that many scams include some person who appears to be desperate to purchase the property. Although you would desire to rescue the person, rely on your instincts and use some common sense.
If you are emotionally thinking about the situation, one has to put forth the question, what would the broker do? Then go to the broker or a reliable associate for suggestion.
They should put the situation into the proper perspective. If one suspects that buyer and his family are scammers, endeavor to document as much information as possible and report the scenario to higher authorities.
There are property listings that are fraudulently posted on websites. During such an instance, customers were encouraged to send money to an account in exchange for real contract or keys.
What one can do?
You have to visit the Craigslist.com website time and again to assure that the listings are not being advertised against law by unauthorized individuals.
A wealthy purchaser, from abroad, approaches you regarding acquiring a luxury home. The purchaser may even meet with you or a local buyer’s agent before going home. The buyer implies that he will make cash payment and they request quick closing of the deal. The purchaser may furnish copies of foreign bank statements that reveal sufficient funds for the purchase of the property. However, a proper wire transfer never occurs. But, as a matter of fact, the buyer requests to retain the keys before the closing of the deal.
What one can do?
Take the necessary steps to assure that the person is legal, follow the normal methods established by the broker, do not make exceptions to the process.
Be cautious of individuals who ask for payment of fess for mortgage modification services. In majority of cases, claiming fees beforehand for a modification is not within the law.
Only the mortgage company could scrutinize and give a loan modification.
The address that is available in the mortgage statement will be different from the address the scammers ask for payment. Be careful with such things.
Don’t pay money to someone blindly through wire transfer for the purpose of upfront payment.
Be cautious of those people who suggest that you suspend your mortgage payments or sever ties with the mortgage company.
Don’t fall under the trap of someone who tells you that he will deal with the deed of the property.
A HUD-approved housing counseling agency will assist you in the process.
Zack Childress has profound knowledge of real estate. He wears many hats and gives training on the real estate scenario.