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May 1, 2024 · In fact, the IC3 received 9,521 real estate-based complaints in 2023. That may not seem like a significant number; however, in terms of losses, these crimes amounted to $145,243,348 (more than...
- “We Buy Houses” Scam
- Foreign Cash Buyer Scam
- Home Inspection Scam
- Escrow Wire Fraud
- Rental Scam
- Moving Scam
- Foreclosure Relief Scam
- Loan-Flipping Scam
- Home Mortgage Scam
- Title Or Deed Fraud
Have you ever seen a flier tacked to a telephone pole declaring, “We buy houses” or “We buy ugly houses”? Or, if you’re a homeowner, received a postcard from a company offering to buy your house for cash in just days? These offers are technically legitimate. However, they’re generally not a good way to get what your home is worth. Here’s how these ...
Some so-called cash buyers don’t actually want to buy your home at all. Instead, they’re working a variant on the old overpayment scam often seen with credit cards and utility bills. It also shows up as a work-from home scaminvolving check cashing. In this scam, a prospective buyer reaches out to you, usually by email. Often, they claim to be a for...
Getting a home inspection is a crucial part of buying a home — especially if it’s a fixer-upper. A professional home inspector goes over every part of the property to detect problems that aren’t always visible to the naked eye. They can also test for hazards like lead paint, radon, or mold. But you have to be sure the inspector you hire is the real...
When you take out a home mortgage, you often have to make an upfront payment known as earnest money to prove your intentions are serious. This outlay typically works out to between 1% and 3% of the sale price. It goes into an escrow account until your closing, when it’s applied to your closing costs. For scammers, this is an opportunity to get at y...
In many cities, finding an apartment in your price range can be a real challenge. Crooks take advantage of this by tempting buyers with fake rental listings on Craigslistor social media. They show photos of a great apartment at a price that looks too good to be true — because it is. Rental scams can take several forms. Some copy a genuine rental li...
When you’re moving to a new home, especially if you’re relocating to a new state, hiring a moving company saves you a lot of effort. But you have to watch out for shady moving companies that don’t live up to their promises. It’s not unusual for moving companies to charge more than their initial estimate. Often, this is because they honestly misjudg...
This particularly nasty scam preys on desperate people at risk of losing their homes. The con artists offer to help them avoid foreclosure by refinancing or modifying their home loans. All they need in return is an upfront fee. At best, these companies merely connect homeowners with mortgage relief programs they could have used on their own. But ma...
In many cases, refinancing your mortgageis a smart move. It can lower your interest rate or your monthly payments or shorten your loan term. This saves you money in the long run. A loan flipping scam is a different matter. This scam convinces homeowners to refinance their home loans repeatedly, borrowing more each time and paying high fees and poin...
There are several different predatory lendingpractices aimed at homebuyers seeking a mortgage. These include excessive interest and fees, prepayment penalties, or balloon payments. Sometimes, these practices are technically legal, but they’re never ethical. Common tactics include: 1. Ignoring Your Ability to Pay. Lenders are supposed to evaluate yo...
When you buy a house or other property, you receive both the keys and the deed. This document grants you the title — legal right to ownership — of the property. Title or deed fraud is a form of identity theftin which someone else forges a deed to your property in their own name. With a falsified title, the thief can borrow against the equity in you...
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Feb 23, 2024 · In 2022 alone, the FBI received 11,727 real estate fraud complaints that cost people almost $400 million in total. If you don’t want to be one of those people, keep reading to learn more about some common real estate scams and how to avoid them.
Jul 12, 2023 · Beware Of These 7 Real Estate Scams. One of the reasons many home buyers fall victim to scam artists is that there are so many different types of real estate scams. It’s impossible to be aware of every possible scam, but here are seven common ones you should familiarize yourself with.
Jun 8, 2023 · Complaint Type: Service or Repair Issues. Status: Unanswered. The Home Buyers Network has been contacting me unsolicited wanting to buy my house. I have asked repeatedly to not be contacted...
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The Online Complaint System is part of the 360° evaluation GAIL has adopted to not only to ensure outstanding performance of individuals but also that of the units, divisions and departments of GAIL and that of GAIL as a 'Corporate Citizen'. Our endeavor is to uphold and ensure implementation of our core organizational values. However, if due ...
Feb 28, 2024 · 'We buy houses' companies can sound like a rip-off — but it depends on how you look at it. See what customers say about working with cash buyers, plus how to spot a scam! Find Agents
