Real estate scams, fraud all constitute a form of theft
which criminals use to steal your residence or real property. Adhering to the principle
that a person’s home is their fortress, this is possibly the most shocking form
of victimization.
There are so many Real estate Scams and occurred in many
forms. Jeff Adams is one of the famous real estate investor and Jeff Adams scam
prevention techniques allows you to find the real estate scams and providing a
right way to prevent them.
Types of Real Estate
Fraud:
Foreclosure bailout, home
equity fraud, home renovation scams, rental fraud, and deceptive timeshare
scams, are just a few types of real estate scam which may be performed. Now we
can see the forms of real estate scam.
Foreclosure aid:
Victims of this form of
real estate fraud are generally homeowners who have negative justice, also
known as being upside-down and owe more money on their home’s mortgage than the
home is worth. They are caught in dire straits due to the need to sell their house,
and must do so at a loss or let their advance company foreclose on their home.
Home justice and Home Renovation Fraud:
According to the Council
of Better Business Bureaus, home-remodeling contractors ranked slightly behind
car salespersons and auto technicalities in generating the most consumer
complaints. Be very careful when using your home or your home equity as
security for a home improvement loan. Fast talking salespersons will offer to
refinance your home at a lower interest rate to provide cash to the homeowner,
the money can be used to pay for home improvements or to pay off bills.
Rental scam:
Often, con artists will rent
out a house they do not own. They will set a vacant or abandoned home, enter
the house, change the locks, and then promote the property as available for
rent. The unsuspecting victim rents the property from the con artist, who
collects a security deposit and rent from the victim, and then disappears.
Deceiving Timeshares:
Timeshares may offer to
sell membership vacation accommodations. Con artists may make oral promises
that are omitted from the written agreement. They may also fail to mention fees
and obligations that are in the written contract, which are never mentioned
orally.
Victims of scam come from a variety of cultural, religious,
socioeconomic, educational backgrounds, age, and gender. Some swindlers
deliberately seek out families that may have limited means or financial
difficulties, figuring such persons may be mainly receptive to a proposal that
offers fast and large profits. Your first step as a victim should be to report
the incident to your local police department.
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