How To Spot A Real Estate Scam

Here at Team Ken Richter we conduct our business with integrity. This quality has always been a pillar in our philosophy and mission. We pride ourselves on providing clients with top tier service that has their best interests at heart. We are committed to you and would love the chance to show you just how important your goals are to us.

Unfortunately, not everyone conducts their business with integrity. 

Real estate scams that prey on both present and future homeowners are commonplace. With the economy the way it is right now, more cases of people being scammed are beginning to arise across the city. In order to help prevent you from falling victim to these scams, in todays post we will be going through the most popular scams out there and how to avoid them.

Don't let the following fool you: 

1). Out-Of-Country Owners: One of the first steps in looking to rent or buy a home is getting in touch with the current owner. One really popular way that people are scamming others is by posing as the owners of fake properties. Often the address will lead you to a legitimate property, but it will not be owned by the person claiming to own it. This is why working with a licensed Realtor who can help spot these is so important. 

2). Too Good to Be True: Some places seem like a fantastic steal. For example, a condo for sale in the Eau Claire area with a beautiful city view for only $5000.00. It may be a buyers market, but if it sounds too good to be true it probably is. Be on the lookout for the signs of this type of scam: photos of the place will look like they were taken straight out of a catalogue, often the places will come completely furnished and they are usually a condo or apartment. 

3). Renting Someone’s House: This disturbing scam happens when a someone rents out the home of someone who is simply on an extended vacation or business trip. They will often get into the home with a spare key they found, change the locks and forge documents to make it look like they have the authority to rent or sell the place. If you sign on the dotted line and move in, the real homeowner will come home to a new roommate–which is not ideal for them or for you. Do your due diligence in verifying all realtors and renters before working with them.

If you stumble across any scams or hoaxes, report them immediately so the authorities can make sure that no one else is harmed by the perpetrator.

And like we said... this is why a realtor is your best friend when it comes to finding a place to live!

Your Real Estate Professional,

Ken Richter

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