The bad thing is that there are scammers trying to trap sellers and the realty agent. You might have earned money the hard way, but these scammers know the easy way to swindle money with make believe tricks. The method may vary, but there is a common pattern seen in the scamming. The ones who are posing to purchase property really do not want to purchase the property. They pose like they are into the process of purchasing the property. But there are some signs that reveal something amiss and that which alert you that the potential buyer is indeed a scammer. Also, by discerning these signs, you can save yourself from falling in their trap.
Beware Of Scammers
- The most obvious scam occurs when the buyer claims that he is from a different country. Usually the scammer develops a contact via email, and expresses desire in purchasing house in your vicinity. With no sound knowledge of the area, and with no particular interest in knowing about the property, the scammer may appear like he is keen on purchasing the home.
- The trickster will furnish details about his financial stands, and that too, without you asking for it. The financial details that are furnished will be false. But, the most common pattern observed is that the buyer shares sensitive information without you demanding for it. The scammers furnish plenty of information with regard to their contact, and which do not actually exist.
- Usually, the buyer will be out of reach. He will take every possible effort to avoid speaking to you over phone. The reasons that pop up will usually be not very convincing. They will make a request to you to contact the attorney. Since they are only posing as buyers and really do not have intentions, and also since their accent will give it out, they fear talking to you in person.
- Usually, lot of mistakes pop up as the scammer sends the payment. He might claim that he has sent across a check with excess money and he needs a refund. But when you have sensed things gone amiss, your money is already drained out.
- Usually the origin of the scammer is different from his actual nationality. That is the reasons why they have some restrictions, they claim. There will be various make-believe stories that they come up with, and a discreet seller can make out the fraud.
- When the prospective buyer uses an email service that is free of cost, it does not fit into the professional decorum. This may be a revealing sign that something has gone amiss.
- It is important to verify the authenticity of the database showing previous sellers that the buyer has contacted.
- Most of the fraudsters do not have the cash. Verify the bank information of the prospective buyer and make the move carefully.
- When the method of advertising is not up to the standards, you have to sense something fishy about it. Usually, legitimate buyers do not go for such tactics.
- The scammer will be ready to choose the method of payment even before you ask for it. They might come up with an attractive mode of payment, and they will be ready to make the down payment.
DC Fawcett, the founder of the Virtual Real Estate Investing Club, will guide you on what’s working better in the current real estate scenario.