7 Signs You’re Falling for Real Estate Scams

Real estate scams are, unfortunately, a common and dangerous thing. Read the following post by Stewart: Patriot Title Agency in Columbus, OH, to learn the most common ways scammers operate. 

What is Considered Real Estate Fraud?

Real estate scams of frauds are when agencies or individuals provide inaccurate information to buyers to defraud them of money. There are many types of real estate fraud, like title fraud, foreclosure fraud, mortgage fraud, and syndicator fraud. Keep reading for some of the most common ways scammers operate.

Scammers Will Keep Information From You

One of the first signs that you’re dealing with scammers is that they keep information from you. This can be things like home inspection reports, lack of information, or incomplete documents. Sometimes scammers will ask you for an exchange of money or financial information to disclose complete information. Your best bet, in this case, is to contact a real estate professional and try to sort it out before you hand personal or financial information over or wire any money.

They Will Avoid Meeting Face to Face

Another common way scammers try to trick buyers is by avoiding or stalling a meeting face to face. They will usually conduct business through phone calls, email, or instant messaging. Usually, scammers will use fake identities or credentials to complete the scam. Be wary of these interactions and always insist on meeting face to face. If they don’t commit to doing so, walk away from the deal to avoid putting yourself in danger.

One way to avoid real estate scams is by surrounding yourself with an excellent home buying team. If you still don’t have a title agency by your side who can advise you on title insurance and title-related questions, contact Patriot Title Agency, Inc. at 330-479-3000 today for professional advice from one of their expert agents.

They’re Not Available to Tour the Property

Touring a property you’re interested in is one of the essential parts of your home buying journey. It’s where you get to see up close, and personal what the conditions are like, you get to assess if it’s the right property for you, and you can also get a feel of the neighborhood where it’s located. A seller not wanting you to tour the property is a big red flag you should be aware of and a common sign of real estate scams.

They Ask for Money Upfront

Asking for money upfront is also common for scammers to try to get you. Wire fraud is a well-known scam because financial institutions can’t trace wired money. Con artists will try and exploit this and ask you to wire money to close a deal, show you a property, or meet you face to face. Always avoid wiring money to a seller before you have concrete evidence that your agreement is legitimate and you have signed paperwork that says so.

Buying a new house or property can be overwhelming as there are many steps to follow to do so correctly. Patriot Title Agency, Inc. has you covered if you’re looking for a professional title agent. Give them a call at 330-479-3000 for more information on everything title-related.

They Want You To Sign Immediately

Scammers know that they have a small window of opportunity to get you to fall for the play. They’ll try to pressure you to hand over significant sums of money as quickly as possible. One way they’ll try to do this is by having you sign blank pieces of paper or documents that contain false information. If you notice the person you’re dealing with has any attitudes like this one, back off the deal to protect yourself and your assets.

They’re Pressuring You

Lastly, a tactic that scammers use in many different scenarios is to pressure you or make you feel like any decision you make is time-sensitive. This has two goals:

• To avoid you consulting a professional who will notice it's a scam or a partner who also needs to sign off on the deal.
• To play up your anxiety and make you feel like this is an opportunity that you would be silly to miss.

Keep an eye out for this type of behavior, and before you make any decisions make sure you feel calm and in charge of the situation.

We hope you find these tips helpful when buying your next property. If you have any questions about title services or looking for a title agent in  Columbus, Canton, and Medina, OH., don’t hesitate to call Patriot Title Agency, Inc. at 330-479-3000. Protect your assets and stay safe!