If you're planning on purchasing a new home, you have a great deal to look forward to. At the same time, there are some things that you're going to have to watch out for. Real estate scams are unfortunately common. These are a few things that Alex at iwillbuyhouse.com can share with so you know what you can do to protect yourself.
Work With An Experienced Realtor:
A lot of scam artists prey on people that don't know a lot about real estate. They specifically target people that aren't experts, and they take advantage of their lack of knowledge. This means that you're going to be more vulnerable if you don't have a realtor.
You should take the time to find a real estate agent in your area that comes highly recommended. Because realtors work on commission, there are no real downsides to working with a professional. The realtor that you hire will be able to steer you away from any scams.
Be Wary Of Any Deals That Seem Too Good To Be True:
It's absolutely possible to find a home that's in good condition at an affordable price. However, if a deal seems as though it's far too good to be true, something might be amiss. For example, if a house is listed at $100,000 less than comparable houses in the area, then it might not be the real deal.
You don't necessarily have to pass on a potentially amazing deal, but you should show some skepticism. If you're hesitant about a listing that you see, you'll want to talk it over with your realtor and see what they think.
Never Purchase A House Unseen:
A number of scam artists don't actually own the homes that they're claiming to sell. They simply use photos of homes that belong to other people. Usually, they'll try to trick a prospective buyer into offering them money before they buy the house.
If a seller makes excuses about why they can't show you a house, then you'll want to walk away from the deal, even if the house seems like your dream home. This is a major red flag that you really can't afford to ignore.
Hire An Excellent Home Inspector:
In some cases, sellers try to hide that a house is damaged so that they can sell it for more than it's worth. As an example, a seller might try to conceal wiring problems or a leaky roof. This is one of the most common types of real estate scams.
That's why you're going to want to find a highly qualified home inspector that will be able to look out for any potential issues. They'll be able to identify any issues that a home has and point them out to you. You can decide if you still want to buy the house after hearing all of this.
There are a lot of steps that you can take if you want to protect yourself from real estate scams. These types of scams are common, but that doesn't mean that you're helpless. You should be able to avoid scams and have a positive experience overall.