The internet can be both an ally and an adversary to today’s
home seller. When it comes to scams and cons, homeowners are easy prey for
professional criminals.
Let’s face it. When selling real estate, you are inviting
strangers into your home. Figuratively with online photos, maps, and more. And
literally when they come to view your property. You and your home are exposed
for the world to see.
Being aware of the scams aimed at sellers is the first step
to stopping them in their tracks. These are some of the most popular swindles
I’ve heard about in the past year:
1. Hijacking
your property and listing it for lease. This con has been around for years
(because these conmen are so good). The scammer lists your property for lease
on sites like Zillow, Trulia, Craigslist, etc. for an enticingly low monthly
rent. They copy photos, description, etc. from legitimate real estate sites and
often create an email address that includes the owner’s name (like
JohnDoe1234@….com). They communicate with their victims via email and get them
to pay an application fee or deposit to hold the property for them. They keep
collecting until someone shuts them down – usually after one of the victims
comes knocking at your door. It’s an ugly scene for everyone.
2. Open
house thieves. These crooks make their living stealing medications,
jewelry, credit cards, and other valuables. Typically, they operate at open
house events and pose as prospective buyers. They may operate alone or in
pairs. While they can be nicely dressed and well spoken, they’ll take anything
that can fit in a pocket or purse. Lock away everything you can, including all
prescriptions.
3. The
amazing offer from the fake buyer. This guy doesn’t have an agent
representing him and claims to be moving here from out of state. While his
story may vary, it’s usually a good one. He needs a ‘long close’ because he’s
going through a divorce, or waiting on an inheritance, or payment for his movie
script, or some scenario. He’s willing to pay your asking price or more and
close in a few months. He may want to lease the property for a huge monthly sum
until he can close. Because he’s never going to close. His checks are going to
bounce. He may even move into the property by the time you realize it. But
essentially, he is going to tie up your property so that you can’t sell it to
anyone else until you pay him to go away.
4. “I’ll
buy it if I can’t sell it” ploy. This gimmick from smarmy agents comes with
stipulations that most logical owners wouldn’t want. Usually, the agent will
set the asking price and the offer to buy is way below market value.
5. Knocking
on your door. Yes, some of these criminals will actually knock on your door
either trying to sell you something or to convince you they have reason to come
inside. Just say no. They should have an appointment to view your home with an
agent present and you should never buy anything from someone selling door to
door (unless they’re school aged). Contact your agent to verify them before
letting anyone in or giving them anything.
6. For
sale by owner targets. These cons are an entire category unto themselves.
When there is no agent involved to monitor who sees the property, it’s anyone’s
guess as to who they really are. Most sellers are hesitant to ask a prospective
buyer for their identification. And they certainly don’t want to leave a
stranger alone in their home. These ‘prospects’ could be thieves or just casing
the house to come back and rob it later.
Licensed Realtors benefit from an appointment and key box
system managed by the MLS. The system records every entry and identifies all
agents that have entered a property. It is the agent’s job to screen potential
buyers both before they enter your home and before you enter into a contract
with them.
The opinions expressed are of the individual author for
informational purposes only and not for the purpose of providing legal advice.
Contact an attorney to obtain advice for any particular issue or problem. [where: 75230]
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