A golden rule when it comes to real estate is that if a deal sounds too good to be true, then it probably is. Getting involved in real estate is rewarding and financially life-changing, but it can also be downright scary. Unfortunately, like any other industry, real estate has its fair share of scammers hoping to con any individual with their hard-earned money.
However, these criminals are getting more creative with how they can track their targets. According to the Federal Bureau of Investigation’s Internet Crime Complaint Center data, more than 13,600 victims have reported instances of rental or real estate fraud in 2020 alone.
Fortunately, we present you with these three (3) types of real estate scams and how to avoid them.
The Wire Fraud
This type of scam commonly happens when you are about to close a deal on your new home. Then, an email will arrive with all the correct information about the title of the house and instructions on…