Recognize Real Estate Fraud Red Flags

Recognize Real Estate Fraud Red Flags



Investing in real estate is a significant decision, and should not be taken lightly. Purchasing a home, office space, or investment property is a big deal, and generally requires quite a lot of capital. Unfortunately, there are fraudsters out there looking to con people out of their hard-earned cash, and they often do it through real estate fraud. 

 If you or a loved one is considering investing in real estate, then make sure you know the most common real estate fraud red flags: 

  •  Seller requiring some sort of payment before the buyer ever sees the property. Never part with your money before you have at least been given the option to visit the property you are considering purchasing. 

  • The pressure to act immediately. Real estate transactions can be handled very quickly, but this is not a decision that should be rushed into…especially when a seller is laying on pressure. 

  •  A general lack of paperwork or paperwork that has been poorly edited. Make sure to both have yourself, and a real estate attorney review all of your purchase documents. 

  • Sellers who want you to make mortgage payments directly to them. This is a common scam in which sellers never actually take out a mortgage for the new owners, but instead just pocket the money and leave the buyers in a leach. 

 Above all else, if you sense smoke but cannot find a fire, trust your gut and back out. Real estate fraud can be absolutely devastating, so do not get involved in something you are very confident in.

Comments

Post a Comment

Popular posts from this blog

Types of Eviction Notices Tenants California 2024

Image
  Decoding Eviction: Know Your Rights with Types of Notices for Tenants in California A few different kinds of eviction notifications are in use in the Golden State: 👉 Quit within three days: Because of transgressions such breaking the law, causing significant harm to property, or committing a crime 👉 Just three days to pay rent or vacate: Regarding instances of non-compliance, such rent not being paid 👉 3-day notice to perform covenants or quit: For performing covenants or quitting 👉 30-day notice: For no-cause evictions, such as terminating a month-to-month tenancy under one year 👉 60-day notice: For terminating a month-to-month tenancy over one year, or for terminating a lease agreement 👉 90-day notice: For government-subsidized housing 👉 30-day or 60-day notice to quit: For terminating a lease agreement Once the eviction notice is received, the deadline for the notice begins the next day. Types of Eviction Notices Tenants Face in California—and How to Respond Cali...
Read more

Your Tenant Rights in Cases of Unfair Eviction

Image
  Are you scared? Understanding Your Tenant Rights in Cases of Unfair Eviction Tenants in California have the right to sue their landlord in civil or small claims court if they are unlawfully evicted. If a tenant sues for eviction, they can claim that the eviction was unlawful as a defense or counterclaim.  In the event of a tenant's eviction, they may be able to sue for damages such as:  👉  Fees for the court 👉  Legal expenses 👉  Damages for wrongdoing 👉  Decrease in the rent-controlled unit's worth 👉  Transportation expenses and mandatory relocation levies 👉  Feeling down and out For damages and the right to reoccupy the unit, tenants might file a lawsuit. A court can provide the renter compensation if it can be shown that the landlord behaved with malice.  The time restriction for filing a case alleging wrongful eviction in California is two years following the eviction.  Additional protected behaviors that tenants can ...
Read more

Damages vs. Wear and Tear as a Tenant Deduction

Image
  Distinguishing Damages vs. Wear and Tear as a Tenant Deduction The law of California is explicit in the same manner. The proprietor may deduct any past-due rent from the security deposit of the tenant. Property damage restoration services for damages caused by factors other than normal deterioration. The following are distinctions between damages and wear and tear: Small holes In general, a few minor nail or tack flaws are regarded as typical signs of deterioration. Large holes in the walls, however, constitute injury. Scuffs Small scratches and marks are typically regarded as ordinary signs of deterioration. On the other hand, substantial scuffs, traces made with crayons or markers, or deep indentations/scratches generally indicate the need for repair. The stains Furniture impressions or matted carpets are signs of wear and strain. Stains or burns on carpeting constitute injury. Walls with substantial discoloration are damaged. A paint Wear and strain is the cause of paint yello...
Read more