Jeff Adams Scam Prevention-Escape from Real Estate Scams


A value fraud scheme normally involves a fraudster who agrees to purchase real property and flips it to a complicit customer at an artificially exaggerated price. This step positions the new purchaser to mislead a mortgage lender as to the accurate value of the property when obtaining a mortgage loan.

First, keep in mind that old adage, if it seems too good to be true, it most likely is. While there are great deals out there is real estate and you occasionally come across dream opportunities, we all know that old saying for a reason it’s regularly true. Working with a real estate agent can be the best way to protect yourself against many of these scams but you need to do your homework.

Make sure the manager you are working with is licensed. Check online reviews of your agent and ask your agent questions. If someone you know has purchased a house or rented an apartment building, ask if they used an agent, who that agent was and what their impersonation were. Con artists rarely do legitimate sales or rentals so if your friend or family member got what they were promised from an agent, that agent is possibly okay.

Second, avoid using cash or wiring money. It’s hard to waste cash and it’s much safer to use credit cards, checks or other forms of payment that can be easily traced should something go wrong. Even still you may be offered a receipt for cash transactions that may not necessarily be enough to keep you. Insisting on writing checks or using credit cards or some other type of noticeable payment form is often sufficient to scare off potential scam artists and sends the message that you’re an informed buyer, making you look like less of an easy target.

More Details: Jeff Adams Scam Prevention Strategies


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