Real Estate Scams

Real Estate scam is an enormous issue in today's land business sector because the property holders badly want to fight off abandonment and cheats who are enthusiastic to sham those looking to purchase or rent.

It can be difficult to know a real open door when it goes along, particularly if that opportunity appears to be so great there is no other option than to believe that it is genuine. Working with a respectable land executor can be an extraordinary approach to maintain a strategic distance from the most widely recognized sorts of land tricks however there are different things you can do to secure yourself. Real estate scams are on the rise in the list of scams in the recent few years.



We should begin by recognizing the most widely recognized land tricks you may face while either seeking to purchase a house, lease a house or purchase salary property and after that how about we discuss a couple of ways you can secure yourself from being defrauded. Real estate scams exploit individuals through deceptive practices in property transactions. Phantom listings, where non-existent properties are advertised, and rental scams involving fake landlords requesting upfront payments are common. Foreclosure rescue scams target vulnerable homeowners facing financial difficulties, promising solutions for a fee. Title fraud involves the illegal transfer of property ownership through forged titles. Investors should be cautious of flipping schemes and high-pressure tactics promoting quick profits. Equity stripping preys on homeowners with substantial equity, convincing them to take out risky loans. Fake real estate seminars and wire fraud are also prevalent. To safeguard against scams, verify listings, use trusted platforms, consult licensed professionals, and be skeptical of unsolicited offers or seminars promising unrealistic returns. Always conduct due diligence and seek legal advice before engaging in real estate transactions.

• ASSURED RENTAL RETURNS :
  Many scammers impress the investors and property buyers assuring them a fixed rental income from the project. But in reality what happens is once the properties are sold, the owners realize that rentals are hard to come and are left out with an investment made which earns them no profit. It is mandatory for every real estate investor to conduct a thorough research of the property and the income sources that will arise from investing in the property, as these days scammers are just waiting to launder your money in the name of real estate investments.


• DELIBERATE DELAYS :
  Causing deliberate delays and disappearing after the property is sold is another common trait of real estate scammers. Some scammers are known to have disappeared once they have gained sufficient amount of money that they intended to make from the scam activity. Other scammers deliberately delay the possession of the property to its buyers until all the units in their project are sold. In such a case, real estate investors are kept waiting for infinite amounts of time paying huge rents.


• DEVIATION FROM APPROVED PLANS :
  Many scammers pose luxurious amenities and facilities in the project agenda in order to attract more number of buyers and money. But when the project completes, they list down a number of reasons why most of the mentioned things were not made available and the buyer is left to compromise on the facilities and money spent by them is enjoyed by the scammers.


• DOUBLE INVESTMENT SCHEME :
  Scammers try to divert the money that is pooled for one project into another project with an aim to make double profits. In the end either of the deals doesn't work out and the buyers are just left with purchase agreements that are of no value. All the investors need to ask for appropriate evidences that will ensure that the investment made by them is safe.


• FAKE PROMISES :
  With the increasing number of investors in real estate, scammers are taking advantage of the high end competition in the real estate market by luring as many investors possible for initial funding purposes. Scammers manage to fake advertise real estate projects, and once the funding is received they fail to pay back the returns promised to the investors. Many cases have been reported in the recent past where investors faced problems in real estate investments and realized late that they were subject to real estate scams.


• REAL ESTATE TITLE FRAUDS :
  Another smart way in which scammers cheat the victims is by Real estate title duplication. Scammers manage to duplicate the title deeds of reputed projects and sell them to innocent buyers. By the time the buyers realize that the deal is a scam, the scammers are already out of their sight with the money they have swindled from all the innocent real estate investors.

According to IRS and crime investigation management system, 235 scammers were arrested in the year 2013 for having cheated people in the name of real estate. Following year 2014, 163 real estate scammers were reported to the crime department. 2015 has a record of another 190 scammers arrested for having conducted real estate scam. Innocent people who are unaware of ways in which these scammers approach real estate investors often fall prey to real estate scams.

Such statistics only reveal that there is no niche that is left out by scammers. They are trying to find their luck everywhere with the aim to swindle money from innocent people. All the online users should beware of real estate scam.

• Enrique Felix, age 33 was arrested for having set up a fraudulent sale of a two family house located in New Jersey. The property was titled in a fictitious name. This scammer collected rent from the tenants and kept all the money for himself.
  
  
  
• Loretta Seneca, a woman from Florida sentenced to 27 months in prison and was charged a fine of $5 million. She and her two other partners were engaged in real estate investment conspiracy that defrauded both lenders and individuals they recruited. They were also caught making false representations in loan applications and other legal documents.
  
  
  
  

• Enrique Felix, arrested in New Jersey for real estate scam
  
• Ignacio Beato, Arrested in Florida for real estate fraud
  
• Arrested in Detroit's Westside
  

We are providing the Spam Checker Tool for your convenience. Here your can enter the email or the contact number that you suspect to be a scam. This tool checks it with our spam database list and ensures you regarding the email or the phone number is real one or the bogus.

If you are a victim of Ghana fraud submit the scammers details here