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Jun 13, 2021 · Some Real estate agents practice a form of bait and switch when they attempt to acquire a listing from a seller. However, rather than enticing a homeowner at a low price, they bait the hook by suggesting their home will sell at a higher than market value price.
- Selling Your Home
As we step into 2024, the dynamics of real estate have...
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Understanding Foreclosure in Minnesota: A Simplified Guide
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Buying a home for the first time is an exciting journey, one...
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With the ever-evolving real estate market, it's crucial to...
- Selling Your Home
Jul 23, 2015 · Bait and switch complaints are often about homes that are advertised for rent or sale, but are found to be off market after calling agent.
Nov 19, 2022 · Have you heard of the "bait and switch" tactic? It is a common tactic used by some agents, rental services, as well as those who post on online platforms to lure and attract prospective customers. They do this by creating “click-baits” to lure potential customers.
Apr 11, 2007 · Basically, “bait and switch” deals with a disingenuous advertisement. There needs to be an advertisement for the bait in order for there to be a “bait and switch.” Here are some quick...
- Bait and Switch Home Buying
- Escrow Wire Fraud
- Real Estate Agent Imposters
- Fake Foreclosure Relief
- Equity-Striping Scam
- Avoid Scammers
As a homeowner looking to sell, one of the most common scams is a variant of the bait and switch tactic. Traditionally, a bait and switchinvolves luring in a customer with a bright and shiny product, and then pushing something else on them at the last minute. In the home sales process, this fraudulent behavior plays out a little differently. The ho...
Stealing funds through fake wire transfers, at the exact right moment, is another juicy target for scammers. They wait until you’re ready to purchase a home, and trick you into wiring the downpayment to the wrong place before you go in to sign all the paperwork. Unfortunately, this problem worsens the more we move toward digital transactions. Condu...
Licensed real estate agents, especially those with the realtor designation, must meet high industry ethics standards. They must always be able to prove that they’re licensed whenever you ask, so don’t feel awkward about doing so. It’s important to know what you’re getting yourself into before you sign with an agent and list your home. Unfortunately...
Scammers like to prey on bad situations. Those who have gotten behind in their mortgage payments and find themselves close to foreclosure are prime candidates. The scammer comes in and offers to reduce your mortgage payments in exchange for a large fee you have to pay upfront. Making false claims that they’re associated with a government assistance...
This is another scam that preys on people facing foreclosure. Here’s how it works. A person comes in and offers to pay off your delinquent mortgageby purchasing your home. They say they’ll let you stay on as a renter, with the option to buy back the house when you’re financially stable again. The deal feels good because you never lose possession of...
There are all kinds of people out there looking to take advantage of high-stress situationslike buying or refinancing a home. Trust your gut to avoid scams. If something feels off, it most likely is. If you’re worried about deals falling through when it comes to selling your house, consider working with an off-market buyer for both a quick and reli...
Jun 26, 2023 · One of the most common types of fraud, particularly in the mortgage and real estate industries, is called a bait-and-switch scam. 2 Essentially, a company promises you an apartment, product, or mortgage at an unbelievably low price or rate, and then once you’re hooked or beginning your loan process, you’re told the item is no longer ...
Oct 20, 2023 · There’s plenty of time required to learn about the real estate market so that you’re aware of what you’re getting into. There’s one topic that you may not have studied, and this is the idea of home sellers who use shady bait-and-switch tactics to try to close the deal.
