While visiting a property they believed to be for rent, a couple looking for a rental home almost fell victim to fraud. When they saw a notice on the door indicating that the property was actually not for rent and was a part of a scam, what had begun as a normal open house became a startling revelation.
The Real Estate Scam Unfolds
When the couple arrived, they were told to walk in because they had been informed that the residence was open. But they discovered that the door would not budge when they attempted to open it.
A label that said, “This home is not for rent,” was found on the door upon closer examination. They reported the hoax. Unaware that someone posing as a real estate agent had set up a hoax, the couple had fallen victim to it.
When the couple understood what had transpired, they posted on Reddit that they were relieved. According to the post, I should have known, but I trusted my fiancé to perform the due diligence.
The property’s lower-than-expected price aroused mild concern. The alleged agent’s texts were from an out-of-state number and were abnormally short.
After a brief investigation, I discovered that the house was listed on Zillow as for sale rather than for rent. By that point, the couple had come to the conclusion that they were most likely dealing with a con artist who would have demanded an odd form of payment, like gift cards, in return for a purportedly superior offer.
Luckily, the pair only wasted roughly half an hour of their time, but it was a significant reminder to them to always independently check postings.
How to Spot a Real Estate Scam
This near-miss sparked a conversation about identifying real estate scams. In the Reddit comments, a lot of people recounted similar experiences and offered insightful guidance for anyone wishing to purchase or rent a home. The following are important pointers for avoiding real estate frauds:
False Owners: Con artists may pretend to be property owners and request a deposit in order to keep the property until you get a chance to inspect it. Before donating money, always request to view tax records and deeds.
Scammers that pose as real estate agents are known as fake real estate agents. By looking up their license details on the Board of Realtors website, you may confirm their qualifications.
Cash Offers: Be wary of offers such as “We buy ugly houses” or “We buy homes for cash,” as these transactions frequently lead to the sale of properties for significantly less than their true value.
Predatory Lending: Keep an eye out for mortgage lenders who persistently pressure you to take out loans you don’t need or to refinance.
Bait-and-Switch Moving firms: Some moving firms may hold your things hostage until you pay extra, or they may raise the price after you’ve accepted an estimate. Obtain many quotations at all times, and look up complaints with agencies such as the Better Business Bureau.
Real-Life Scams: Similar Stories Shared
Numerous readers related their personal experiences of nearly falling for scammers. One participant remembered contacting the purported owner after seeing a rental listing, but the owner stated that they were out of town and could not be reached for a face-to-face showing. The couple was astonished to discover that the person answering the door was obviously not the owner when they drove by to take a look at the home.
Another user related a story from the 1970s about renting an apartment and discovering that there were other persons attempting to move into the same space. They almost lost their money after falling victim to a landlord scam.
In the 1980s, one user told how their parents nearly fell for a hoax. Luckily, their suspicions were aroused, and they checked the property records at the courthouse. They discovered that tenants were pretending to be landlords in order to operate the fraud.
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