{"id":12766,"date":"2021-08-03T09:00:12","date_gmt":"2021-08-03T16:00:12","guid":{"rendered":"https:\/\/socialcatfish.com\/blog\/?p=12766"},"modified":"2021-07-20T16:24:49","modified_gmt":"2021-07-20T23:24:49","slug":"real-estate-scams-to-watch-out-for-this-summer","status":"publish","type":"post","link":"https:\/\/wp.socialcatfish.cloud\/scamfish\/real-estate-scams-to-watch-out-for-this-summer\/","title":{"rendered":"Real Estate Scams to Watch Out For This Summer"},"content":{"rendered":"

As pandemic restrictions lift all across the nation, more people are looking to move and purchase a new home. They start going online to view listings and find a house that they like the best. There are also people who are looking to refinance their homes to get out of foreclosure as well as renovate their homes. However, scammers take advantage<\/a> of all these situations and find a way to scam these people out of their hard-earned money. They pretend to be renovation agents, bailout specialists, and realtors so that victims begin to trust them. Then when they least expect it, they steal their victims’ money and run away. Keep scrolling to learn more about the real estate scams to watch out for this summer and how to avoid them.<\/p>\n

Real Estate Scams to Watch Out For This Summer<\/h2>\n[aesop_image img=”https:\/\/socialcatfish.com\/scamfish\/wp-content\/uploads\/2021\/08\/pexels-energepiccom-313691-scaled.jpg” panorama=”off” imgwidth=”100%” align=”center” lightbox=”off” captionsrc=”custom” captionposition=”center” revealfx=”off” overlay_revealfx=”off”]\n

Foreclosure Real Estate Scams<\/h3>\n

Scammers target people who are at risk of foreclosure in their homes. They are caught in an unfortunate situation where they either need to let their homes foreclose or sell their home. That’s when a scammer steps in and pretends to be a bailout specialist. They claim that they will short sell their home in exchange for a small fee of a few thousand dollars. <\/a><\/p>\n

They tell their victims to wire transfer this money or send it to them via gift cards or Bitcoin. The victims send the so-called bailout specialist the money, not knowing that they are actually sending money to a scammer. The scammer takes the money and stops all contact with the victims, leaving them with a home that will be foreclosed on them.<\/p>\n

Home Renovation Fraud<\/h3>\n

Salespeople will claim that they can lower their victim’s interest rate on their home<\/a> in order to provide them with cash to start on home renovations. These victims are then asked to sign contracts at a fast pace without reading them. They end up getting a higher interest rate with no cash to spare on their planned home renovations.<\/p>\n

They find out later on that the contract actually read that they would be receiving a higher interest rate when they were promised a lower interest rate and extra cash. They find out they were scammed out of their promised home renovation that they planned.<\/p>\n[aesop_image img=”https:\/\/socialcatfish.com\/scamfish\/wp-content\/uploads\/2021\/08\/pexels-pixabay-210617-scaled.jpg” panorama=”off” imgwidth=”100%” align=”center” lightbox=”off” captionsrc=”custom” captionposition=”center” revealfx=”off” overlay_revealfx=”off”]\n

Rental Scams and Real Estate Scams<\/h3>\n

Scammers post houses for sale or rent<\/a> on real estate websites, Craigslist<\/a>, Facebook Marketplace<\/a>, and more platforms. They claim that their victims can receive one of these houses easily as long as they provide them with payment upfront. The victims ask to see the houses first, but scammers usually come up with an excuse as to why they can’t.<\/p>\n

The most popular excuse that was used in 2020 was due to the coronavirus<\/a>, they couldn’t see the property in person. The victims then provide the scammers with payment<\/a>, thinking that they are getting a property. Then once the scammer receives the payment, the scammer stops all contact with the victim. When the victim drives by the property, they found that they were scammed out of thousands of dollars.<\/p>\n

Vacation Rental Scams<\/h3>\n

Scammers post vacation rental properties<\/a> on websites such as Airbnb<\/a>, Craigslist<\/a>, eBay<\/a>, Facebook Marketplace, and more. Victims become interested in renting a property for a few days and contact the scammer for more information. The scammer instructs them to send the payment via wire transfer, Bitcoin, or gift cards in order to secure the property.<\/p>\n

When a victim tries to purchase the property through Airbnb, the scammer instructs them not to make the payment through the website and to just send it to them directly instead. This is to avoid being reported and having to give their victims their money back. Once the scammer takes the payment, they stop contact with the victims, leaving them out of a vacation property and their hard-earned money.<\/p>\n

How to Avoid These Real Estate Scams<\/h2>\n[aesop_image img=”https:\/\/socialcatfish.com\/scamfish\/wp-content\/uploads\/2021\/08\/pexels-photomix-company-101808-scaled.jpg” panorama=”off” imgwidth=”100%” align=”center” lightbox=”off” captionsrc=”custom” captionposition=”center” revealfx=”off” overlay_revealfx=”off”]\n