When you’re selling a home, it’s important to be aware of the many scams that are out there. Unfortunately, many criminals try to take advantage of home sellers. Here is a look at a few of the most common home buying scams and how to avoid them. Being informed is the best way to protect yourself from becoming a victim.
Check Scammers
One home buying scam for sellers to avoid is check scammers. The scammer sends the seller a check for more than the agreed-upon purchase price of the home. They instruct the seller to deposit the check and wire the overage to them. The problem is that the check is fake and by the time the seller discovers this, they are responsible for the entire amount of the check, plus any fees associated with it. This can leave the seller in a difficult financial position. To avoid this scam, always confirm that a check is real before depositing it, and never wire money to someone you don’t know. If you have any doubts, contact your bank or the police for assistance.
Over-Eager Buyers
When selling a home, it’s important to be aware of common scams so you can avoid them. One such scam is when buyers appear to be very eager to purchase your home, perhaps even offering much over your listing price for the property. They may even combine this approach with the check scam and include a full check for the price of the house and more. Basically, if it seems too good to be true, it probably is. An over-eager buyer offering way more than necessary should certainly raise some red flags.
Deed Stealers
Deed stealers are a type of home buying scam where crooks file a deed in the land records office, making it appear as if they own your home. They may then try to sell your home or take out a loan against it. To avoid being scammed by deed stealers, make sure to check the public records regularly to ensure that no one has filed a deed in your name without your knowledge. You should also be aware of anyone who asks you to sign over the deed to your home, as this is likely a part of the scam. If you suspect that you may be a victim of deed theft, contact an attorney or the police immediately. Taking these steps will help you to protect your home and avoid being scammed.
If you are trying to sell your home, know that there are people who will seek to take advantage with you. To avoid scams like these when you want a simple and fast way to sell your home and get cash fast, make sure you are working with a reputable cash home buying company that you can trust, like Fox Cities Home Buyers
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