Fake "we are buying homes in your area" scam This is a fake home-buying real estate scam! In all legitimate real estate transactions, the money should flow from the buyer to the seller. But one common tactic of these home-buying scams is for the scammer to explain that you need to first pay $300 to $2000 for "administrative" or "processing" fees. This "you need to pay processing fees" excuse is also used in fake "you won a free vacation/cruise/lottery/sweepstakes" scams. The scammer then either asks for your credit card or gives you instructions to wire transfer the money to them. Some scammers also ask for your Social Security number using the fake excuse that they need to verify your identity. People who are desperate to sell their homes are the most common victims of these scams. If you sell your home to a legitimate investor, they will not ask you to pay extra commission, processing, or administrative fees compared to listing and selling a home with a realtor. A legitimate real estate investor writes you an offer, free of any charges that you have to pay in advance. You will then have the option, and the time, of accepting the offer. Scammers try to pressure you to make a decision on the first or second call. Many fake real estate buyer phone scams also offer to buy your house without looking at it in person. Some scammers give the excuse that they have already seen the interior and exterior of your house on the internet. Sellers whose houses require a lot of repairs often fall victim to this "no personal visit needed" lure of selling their homes to someone without needing to spend money on repairs.

February 7, 2021

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January 14, 2021