Real Estate Scams on the Rise: How to Protect Yourself
The real estate world is full of opportunities, but it’s also becoming a hotbed for scams. From fake rental listings to wire fraud, criminals are finding new ways to exploit buyers, sellers, and renters. Here’s what you need to know to stay safe.
1. Wire Transfer Fraud
Scammers hack email accounts to send fake payment instructions, diverting funds to fraudulent accounts. Always verify payment details directly with your agent or escrow company.
2. Fake Rental Listings
Fraudsters copy real listings, posing as landlords to steal deposits and rent. Never send money before verifying ownership and seeing the property in person.
3. Title & Deed Fraud
Criminals forge documents to transfer property ownership without the owner’s consent. Regularly monitor your property’s title and consider title insurance.
4. Loan Flipping & Predatory Lending
Unscrupulous lenders push repeated refinancing with unfair terms, often targeting elderly homeowners. Always consult a trusted financial advisor before refinancing.
5. Foreclosure Relief Scams
Fraudsters promise loan modifications or foreclosure help for upfront fees—only to disappear. Contact your mortgage servicer or a certified housing counselor for legitimate assistance.
Recent Cases Making Headlines:
Google removed over 10,000 fake business listings used by scammers to impersonate real estate firms. News
Los Angeles' Spelling Manor ($137.5M) was tied up in fraud, preventing its legal sale. News link
Rental scams in the UK left renters homeless after paying deposits for occupied properties.
How to Stay Safe
✅ Verify communications and payment details before transferring funds.
✅ Use secure channels and avoid sharing sensitive info over email.
✅ Work with trusted professionals for transactions and legal matters.
✅ Monitor property records and sign up for fraud alerts when possible.
The real estate market is evolving, but so are scams. Stay informed, stay cautious, and protect your investments!
📞 Call/Text: 346-322-8056
📧 Email: Priscilla@PSHTeam.com
🌐 Search Homes: www.HAR.com/PriscillaGallegos
Your perfect home is just a call away! 🏠✨
