very industry has its scam never assume anything until you
artists, and real estate is have a contract in hand. Never
no exception. While most of assume that someone will follow
the professionals who work in through on a promise of any kind
real estate are ethical and unless there is a viable
honest, there are people in the contract.
industry who want to take your
money and run. Worse, there are 2) Get professional advice.
scam artists who use real estate An experienced real estate
as a cover. These fraudsters may attorney should be looking at any
know nothing about real estate property contracts you sign. If
but simply use properties to you are interested in investing,
extract money from victims. join a real estate club so that
Sadly, properties mean large you can get advice and help from
amounts of cash and this can professional investors. If you
attract criminals. You don’t have are buying a home, get the help
to be a victim, though. Whether and input of a professional
you are investing in real estate assessor and inspector.
or buying your own home, there Interested in learning about real
are a few things you can do to estate investing? Make sure that
stay safe: your instructor is an experienced
and qualified investor
1) Get it in writing. themselves. Aim to work with the
The simplest and most effective best professionals you can find.
way to stay safe is to assume Whether you need to find the
that nothing is concrete until it value of a home or the loopholes
is in writing and signed. Any in a contract, turn to the
verbal promised made simply does appropriate professionals. They
not count unless it is in a will help you uncover shady
legally binding contract, so deals.
5) Ask lots of questions.
3) Keep abreast of common real Be willing to trust yourself to
estate schemes. walk away if an offer is too good
Thank goodness real estate scam to be true or if your questions
artists (like other fraudsters) are not answered to your complete
are not too original. In many satisfaction. Any real estate
cases, criminals will use the deal you make should have a
same scams again and again. If benefit for you and a benefit for
you are buying a home, the other party. If the deal
refinancing, selling, or seems to favor you, find out what
investing, find out from the the other party is getting.
media and from the IRS about
common scams. That way, you can 6) Keep an eye out on your credit
watch out for red flags. scores and accounts.
In many cases, real estate fraud
4) Deal only with professionals. ends with identity theft.
Make sure that anyone you are Fraudsters may take your property
dealing with – from a real estate under false pretenses or use your
agent to a real estate attorney – personal information to open
has the right qualifications for accounts in your name. You are
their job. If you are dealing entitled to one free credit
with a buyer, make sure that they report per year from credit
are honest about their employment bureaus. This shows you how much
and credit history. Scam artists you officially owe and which
will often invent elaborate accounts you have open. Keeping
backgrounds in order to gain your tabs on your finances ensures
trust. If you detect the lie, you that you don’t become a victim.
can detect the fraudster, so do
your research. 7) Don’t pay more than you can
afford for real estate.
If you are buying, don’t pay more of real estate you are dealing
than you have to. Fraudsters will with and budget accordingly.
often try to have you spend too
much or sell for too little so These simple tips can prove
that they can pocket the helpful when doing business in
difference. A classic scam in real estate. These basic tips
real estate involves a con artist cover most types of real estate
with charm or an urgency fraud and help you avoid the real
encouraging you to sell your home estate scams that are out there.
for nothing or encouraging buying Good business common sense can
a property for far more than it help you stay safe.
is worth. Always know the value
About the Author:
Eric Bramlett currently manages his Austin Realtor website, his Tulsa OK Real Estate company’s website, & his Austin Apartments Guide.
Read more articles by:
Eric Bramlett
Article Source: www.iSnare.com 
