REAL ESTATE NEWS | Blog Video
Now, more than ever, desperate real estate agents, con men, fraudsters and scammers attack our email, phone and voicemail with frauds, cons, spam and trojan horse attacks. Read Loft Blog articles about prolific con artist Drew Donovan, who targets home buyers, sellers and real estate professionals. #drewdonovan
Some of the most common, dangerous frauds against home buyers and sellers include spam emails, which claim to contain important documents, but actually contain viral files with trojan horse malware. It comes from a random email address, and to the Closings Department. In says “Open the attachment to see the instructions”. The files are called “Payoff” and “Wire Instructions,” but they are really trojan horse malware virus files that may take over, spy on, hold hostage or destroy your computer. #realestate #scam
Some email scams instruct the receiver to send a bank wire for the down payment or purchase funds. The devastating truth is that the email is a scam, and the bank account belongs to the fraudsters. There’s no possibility of retrieving the huge sum of the bank wire amount. Always verify bank wire account details by phone with your escrow company.
Renters must always keep an eye out for scams. Rental listings that have an enticing low rent price; an out-of-town, unavailable owner, manager or agent; no voice phone, or requires a lease application in advance, exhibit signs of potential scams. Do not ever provide payment or personal information in these cases. #fraud
Licensed professional real estate agents often conduct a little scam of their own. Prospective agents can get away with over-promising to the seller more money for a home than what the market can actually bear. Make sure that any promised market price or asking price is realistic: The expected selling price must be based on recently sold home prices for similar nearby properties.
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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE 01889449, MPR Funding Inc NMLS 2000513. We are not associated with the homeowner’s association or developer. For more information, contact 213-880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.