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Online Shopping, Real Estate Apps & Sales Pitches

Online Shopping, Real Estate Apps & Sales Pitches

Online Shopping, Apps & Sales Pitches: Avoid Gimmicks & Real Estate Scams

Real estate websites that offer something that seems too good to be true, likely isn’t. Here are a few common real estate scams to look out for:

  1. Your Home Sold, Guaranteed- or we will buy it Yup, for 60% of its value then assign the contract before closing to an investor for 80% market
  2. 1% Commission Plus the buyer’s agent’s commission, that 1% might not get you anything but a lockbox and a basic MLS listing. ASK for a marketing plan and get it in writing, then have your attorney look it over for you.
  3. We buy houses cash, in any condition They sure do, for way less than market value.
  4. Wholesale prices & off-market inventory Are often assignable contracts without warranty and buyers will be asked to pay commission and finders
  5. Short Sales, Foreclosures, and Bank-Owned Deals They sell for market value; if it is undervalued there is a reason- you’ll pay the difference one way or another.
  6. Free money You know better, right? If they are giving you money, there is a reason, find it. There is truly no such thing as a free lunch. Agents who claim to gift commissions also gift less service, time, and effort in negotiating, researching, and pursuing your best interests.
  7. Rental Scams If you find a rental online that is listed well below market value, you should proceed with caution. The Federal Trade Commission has received 182,200 fraud reports from January 1, 2020, to February 1, 2021, for a total of $319.96 million lost from real estate scams. Learn how to spot rental scams. The listing description, photography, domain, and contact information should be examined for red flags.
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