Have you ever tried being scammed even once in your life? The feeling really sucks especially if it involves huge amount of hard-earned money. Social media brought limitless convenience to its users but it also offers disadvantage that’s very disturbing. Social media platforms are being used to victimize people into certain scams involving huge money.
The most common tactic of scammers involves posting of beautiful images of real estate on social media sites. They will then try to lure prospective victims into buying it and ask for deposit. After sending the initial deposit, the initiator will block you. Victims can’t do anything about it, rather than cry over the money that’s gone on thin air.
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Falling into the tactics of scammers can be avoided is easier than expected. You simply need to follow these tips to avoid real estate scam:
1. Inspect the Property (It’s a MUST)
This has always been a precautionary measure: Inspect the actual property before releasing initial deposit. If an agent tries to lure you into saying that the owner is out of town which is why the property can’t be personally inspected, then you should insist on seeing it. Also, it is much safer to request meet ups with agent.
2. Request identification from your agent
If a middleman is helping you, it’s advisable to transact with licensed broker only. Secure their house address, name and email address.
3. Multiple Listings might indicate fraud
Most scammers copy and paste existing property listing and post it to another site. Similar listings with different prices are suspicious.
4. Secure Personal Information and Documents
Most people get to lose their finances because of careless giving of important documents and personal information. Stay keen in observing such people especially if you’re dealing with online transaction.
5. Once you suspect a scam, contact the person and withdraw transaction
It is much better to transact on licensed agents or agencies to avoid being scammed. In case you’ve detected possible fraud, never hesitate to withdraw transaction.
The tips mentioned above should serve as a precautionary measure to avoid being scammed by these crazy people!