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How To Identify Home Buyer Scams

Are you looking to sell your home? If yes, then it is essential that you be careful of con artists who pose as real estate agents or home buyers. Here is how to identify home buyer scams:

Investors Using Marketing that is Questionable

If you see a real estate advertisement on a mailbox or a light post, be wary. This is because professional and legitimate real estate investors and agents do not advertise their listings in poor taste or illegally.
The promise of cash payments without seeing the house by foreign buyers is always a concern as well.
Foreign investors purchase real estate with the assistance of an agent representing them. Details regarding the property will be offered, including exterior and interior photos. All the financials are handled legitimately via an accredited attorney or a financial institution. It would be best if you were careful when it comes to working with foreign investors, particularly with money laundering being a big issue nowadays. A foreign buyer who wants to buy your property in cash without asking for details regarding the property is a danger. The majority of the people who are spending a lot of money to purchase the property will want to inspect it. Scammers will not want to see or ask questions regarding the property.

Buyers providing too Much Information

Most individuals are careful and hesitant about giving sensitive information regarding themselves, particularly financial information. Therefore, it would help if you were mindful of a purchaser who is offering detailed information about themselves especially when it has not been requested. This is particularly true if all the data is being provided through email. Many times, scammers will take a picture of the various kinds of financial records like bank statements and send them via email to potential victims. They will also provide a multitude of contact information like email addresses, phone numbers, mail addresses, and more since offering this information portrays them as actual home buyers.

Buyers who are too eager

Many times, legitimate home buyers will look at a house and decide to take it off the market before someone else does. Such instances are typical and legit. However, scammers who either email or call you showing their interest in purchasing a home, and show too much zeal, should be handled carefully.