Buying a house is a monumental part of your life. You’ve saved up for it with your hard-earned money, and you’ve even cut down on some expenses to reach a certainamount of cash. Since purchasing a property involves a huge sum, you must ensure that the home you’re looking for is being sold by a legitimate agent.
As a smart buyer, you should be alert when it comes to fraudulent real estate activities. Watch out for these tell-tale signs you’re looking ata fake listing online:
Its Price Is Too Good to Be True
Finally, you found a house that has 4 bedrooms, a big kitchen, a wooden patio, a two-car garage, and a gigantic swimming pool, all for a very low price. Plus, it’s located at one of the best neighborhoods in your state. This sounds like an opportunity that’s too good to pass up as it has everything you need and want.
But, keep in mind that property costs increase every year. So, anything below market price is worth looking at closely. Fraudulent realtors intentionally decrease their offers to make buyers believe that they’ll never find a home for less. When the listing is too good to be true, it’s because it is.
It Exudes an Extreme Sense of Urgency
When viewing listings online, you must be aware that the greater the sense of urgency in the advertisement, the warier you should be of the realtor’s intentions. You can tell an ad is fakewhen it has phrases like “available for this price today only” or “need deposit upfront.”
Real estate agents should never rush you into making decisions. They should only guide you when finalizing such a major life purchase. So, when you notice that a listing seems to push you to buy hastily, forget about it and look for another advertisement instead.
It Lacks Significant Details
Sometimes, listings posted online don’t have an address indicated on them due to an oversight on the realtor’s part. But, more often, it’s a sign of fraudulent activities.
When you find a property that you like that doesn’t have an address, ask the seller for its location. If the realtor responds, saying that they don’t want to give it to you due to security purposes, end the conversation promptly.
These are just some signs you can look out for to ensure that you’re dealing with a legitimate realtor. After you complete a home title search, don’t forget to talk to a service provider of title fraud protection to further protect your property from scams.