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Buyer beware: 3 risky real estate traps to avoid

02/14/2017

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Being in the market to buy a new house can be an adventure full of excitement as well as unknowns.Since buyers are working within a specific budget, they’ll probably pay close attention to special deals. But beware — sometimes deals that seem too good to be true are scams, and not everyone who offers a helping hand is really going to help.To prevent a bad property deal, help your buyer clients avoid these common traps: 1. Scams According to the National Association of Realtors, 90 percent of buyers used the internet to search for a home during the buying process in 2012.That number increased to 92 percent in 2015. Scammers are aware that people search for properties online, and they use the ease and anonymity of the internet to take advantage of others.One of the most common scams involves fake real estate listings requiring the victim to wire deposit money overseas in exchange for receiving keys in the mail. It sounds like an obvious scam but people fall into this t…

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