4 Short Sale Fraud Scams To Avoid
Short sales have become increasingly popular in the real estate market, but unfortunately, some unscrupulous individuals are taking advantage of unsuspecting buyers and sellers. To protect yourself from fraudsters who are out to make a quick buck, it’s important to be aware of the common scams used in short sale transactions. Here we outline four short sale fraud scams that you should avoid:
1) Unlicensed Real Estate Agents: Be sure to use a licensed real estate agent when engaging in a short sale transaction. This ensures that your paperwork is being handled properly and legally. Unlicensed agents may not have the expertise or knowledge needed to successfully negotiate a short sale contract on your behalf.
2) Fake Inspections: Short sales often require inspections before completing the transaction. Some unethical individuals may try to scam you with fake inspection reports or bogus repair estimates.
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