Common Real Estate Scams and How To Avoid Them

Buying a home can be one of the most stressful experiences a person can go through, some even find it more stressful than getting married, finding a new job or having a baby.  Understandably so, since it is the largest purchase most people will ever make, and a large amount of your life savings are at stake. Unfortunately, the stress of such a large purchase can distract you from the possibility of shady people looking for ways to take advantage of you.  One of the best ways to protect yourself is with a smart, savvy real estate agent who can help prevent scams from happening.  While your agent can help protect you, it is still important to educate yourself about the dangers of common real estate scams and how to avoid them. Keep reading to learn more, and find the full article here.

Real estate scam No. 1: You transfer funds to a fraudster

You’ve done your shopping, you’ve made your offer; and it’s time to put your money where your mouth is. At least you think that’s what you’re doing, but when you respond to an emailed request to send money to this account or that person, it winds up someplace else—perhaps someplace far, far away.Outwit it: Cybercrime can hit any industry, and real estate is no exception, says Amy Mizner, principal of Boston-based Benoit Mizner Simon & Co. Real Estate.She recommends that buyers only respond to a verbal request for a wire transfer, rather than an email, and that they always consult their agent when proceeding with any step in the transaction.