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Property scams come in many forms, but their ultimate goal is to deceive individuals seeking to rent, buy, or lease a property in order to steal money or sensitive information. These fraudsters often impersonate property owners, landlords, real estate agencies, property management companies, or related businesses to trick victims into providing funds or personal details that can be exploited for theft.

Key points

Avoid upfront payments: Never pay anything upfront to view a property or before having a signed contract reviewed by a lawyer or independent expert.

Protect personal information: Don’t share personal details like your social security number or bank account information until you’re sure the deal is legitimate.

Verify properties in person: Always visit properties in person to ensure they match the listing’s appearance and description.

Research companies: Verify the authenticity of rental or property sale companies through independent research.

Resist high-pressure tactics: Be cautious of high-pressure sales tactics, especially regarding mortgage refinancing or foreclosure relief services.

Escrow wire fraud: Fraudsters gain access to email accounts involved in real estate transactions and trick buyers into wiring funds to fake accounts.

Loan flipping scam: Unethical lenders convince homeowners to refinance repeatedly, leading to excessive loans and high fees.

Foreclosure relief scam: Scammers promise to save homes in foreclosure for a fee but provide no actual relief.

Moving scams: Fraudulent movers demand cash upfront, provide inflated estimates, or hold belongings hostage.

Commercial real estate scam: Scammers pose as property owners, demanding upfront payments for fake properties or altering documents to steal personal information.

Home inspection scam: Fraudulent inspectors falsely report property conditions for kickbacks or charge for sham inspections.

Title or deed scam: Scammers alter property ownership documents to sell properties or secure loans fraudulently.

Fake property listings: Scammers create or copy listings to collect deposits for non-existent properties.

Fake letting agents and landlords: Fraudsters show fake properties and disappear after collecting deposits or rent.

Fake overseas landlords: Scammers claim to be overseas and request deposits to hold properties.

Phishing scams: Fraudsters send bulk emails pretending to be rental agencies, seeking payments through fake portals.

Fake printed listings: Scammers use newspapers or flyers to post fake listings and collect upfront payments.

Facebook property scams: Fraudsters use fake listings on Facebook to collect deposits.

Craigslist rental scams: Scammers post fake listings on craigslist to collect upfront payments.

Fake property scam websites: Con artists create fake or cloned websites to collect payments and personal information.

Inconsistent property descriptions: Ensure properties look like their listings.

Lack of proper documentation: Be cautious of suspicious documents.

Unwillingness to meet in person: Be wary of landlords or sellers who avoid face-to-face meetings.

Unprofessional movers: Demand written estimates and contracts from moving companies.

Unsolicited foreclosure services: Avoid companies that contact you about foreclosure relief.

High-pressure sales tactics: Be cautious of anyone pushing for immediate action or upfront payments.

Unverifiable companies: Research real estate companies thoroughly online.

If you’ve fallen victim to a property scam, fund recovery specialists like Refundaroo can help retrieve your stolen funds. Contact their team immediately to start reviewing your case and gathering evidence.

No upfront payments: Don’t pay anything before seeing a property and verifying the deal.

Contract review: Have all contracts reviewed by a lawyer or real estate agent.

Market awareness: Know the market values in your area.

Protect personal information: Avoid sharing personal or financial details online or over the phone.

In-person transactions: Handle financial transactions in person at the agency’s office.

Thorough research: Research property companies and individuals thoroughly.

Personal meetings: Always meet landlords or sellers and view properties in person.

Certified inspectors: Hire certified property inspectors with good reviews.

Written estimates: Obtain written estimates and signed contracts from movers.

Avoid unnecessary refinancing: Don’t be pressured into unnecessary mortgage refinancing.

How do I spot a property rental scam?

Properties that don’t match their listings, landlords who refuse to meet in person, and requests for upfront payments are all warning signs of various property rental scams.

How do I spot property buying scams?

Make sure you’re aware of the market values of properties in your locality, and remain cautious of deals that seem excessively good. Prior to signing any contracts, it’s advisable to have a lawyer, real estate agent, or another trusted expert review them for any inconsistencies or mistakes.

What are the most common property scams to be aware of?

In addition to rental and sale schemes, there are various other property-related scams to watch out for, including foreclosure relief scams, home inspection scams, moving scams, loan flipping scams, title and deed scams, commercial real estate scams, and phishing property scams.

Absolutely! Many individuals who’ve been ensnared by a property scam have managed to recover their lost funds with the assistance of a fund recovery company, such as Refundaroo. These specialists understand the intricacies of various property scams and are skilled at locating and pressuring the scammers to return what they’ve taken.