What are the red flags that a buyer, seller, and agent should look out for in avoiding real estate fraud?

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Rainmaker
1,231,599

Mary Yonkers

Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA

Erie/PA Real Estate Instructor

I put ditto " " marks under David Barr comment

Mar 14, 2016 08:36 PM

Upvote

4

Mary Yonkers

Erie, PA
Tony and Suzanne Marri...

Scottsdale, AZ
Anna Hatridge

Farmington, MO

Rainer
471,273

DEANNA C. SMITH CERTIFIED MOBILE NOTARY

Certified Mobile Notary Signing Agent - Smith Mountain Lake, VA

Highest Ranked Certified Mobile Notary in Virginia

Buyers, sellers, agents, lenders, home inspectors, appraisers, stagers and anyone else involved in the real estate business or transactions can all benefit from following my motto: " Be A Professional " !

Being professional means avoiding "red flags" by being ethical in all we do. If it appears any of these parties is being unprofessional, then that is a sure sign to step back and look for the red flags before proceeding.

Mar 14, 2016 05:49 PM

Upvote

3

Anna Hatridge

Farmington, MO
Mary Yonkers

Erie, PA
DEANNA C. SMITH ...

Smith Mountain Lake, VA

Rainmaker
3,069,934

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

What Mary Yonkers and David Barr said...

Mar 14, 2016 09:05 PM

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2

Mary Yonkers

Erie, PA

Ambassador
2,759,387

TeamCHI - Complete Home Inspections, Inc.

Complete Home Inspections, Inc. - Brentwood, TN

Home Inspectons - Nashville, TN area - 615.661.029

There are red flags everywhere. Look out for FSBO's.

Mar 14, 2016 06:40 PM

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2

Anna Hatridge

Farmington, MO
Mary Yonkers

Erie, PA

Rainmaker
634,272

Kathleen Luiten

Resort and Second-Home Specialist - Princeville, HI

Kauai Luxury Ocean Home Sales

FSBOs are sometimes frauds, especially in resort areas. Those listed on Craigslist with unusual restrictions for showings and requesting a cash deposit are suspicious.

Mar 14, 2016 06:09 PM

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2

Anna Hatridge

Farmington, MO
Mary Yonkers

Erie, PA

Ambassador
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Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

The Southern California Relocation Dude

Gut feeling

Mar 14, 2016 11:50 PM

Upvote

1

Hella Mitschke Rothwell

Honolulu, HI

Rainmaker
818,487

Olga Simoncelli

Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT

CONSULTANT, Real Estate Services & Risk Management

The "smell test" usually works.

Mar 14, 2016 10:58 PM

Upvote

1

Hella Mitschke Rothwell

Honolulu, HI

Rainmaker
3,996,234

Richard Weeks

Dallas, TX

REALTOR®, Broker

If it sounds too good to be true proceed with caution.

Mar 14, 2016 10:04 PM

Upvote

1

Hella Mitschke Rothwell

Honolulu, HI

Rainmaker
872,590

Peter Mohylsky. Broker -BRIX REALTY

Miramar Beach, Florida - Santa Rosa Beach, FL

BRIX REALTY -DESTIN

If it smells toon good to be true it is too good to be true.

Mar 14, 2016 09:22 PM

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1

Hella Mitschke Rothwell

Honolulu, HI

Ambassador
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Bob Crane

Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI

Forestland Experts! 715-204-9671

Lots of scams out there, be careful

Jun 14, 2019 10:37 PM

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Ambassador
3,986,660

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

Things that don't look, sound, smell or feel right.

Jul 03, 2018 08:02 PM

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Ambassador
965,291

John Meussner

Mortgages in AZ, CA, CO, DE, FL, GA, MD, MT, NC, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, WV - Walnut Creek, CA

#MortgageMadeEasy Walnut Creek, CA 484-680-4852

There are many. As an agent, one of the most frequent issues is occupancy fraud, that's a tough one to catch but if you ask the right questions it's easy to weed out. If something seems shady or just not right, chances are your gut is on to something.

Mar 15, 2016 05:33 AM

Upvote

Rainmaker
5,571,310

Barbara Todaro

RE/MAX Executive Realty - Retired - Franklin, MA

Previously Affiliated with The Todaro Team

I use whatever I have for a GUT feeling at the time....

Mar 15, 2016 02:40 AM

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Rainmaker
2,634,187

Richie Alan Naggar

people first...then business Ran Right Realty - Riverside, CA

agent & author

Double talk, no talk, and talk with forked tongue tells all about anyone

Mar 15, 2016 12:08 AM

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Rainmaker
140,495

Chrissi Chapman Topoleski

Coldwell Banker Realty - Woodbridge, VA

Passionate about helping others achieve success!

Anything that falls out of a standard contract and does not follow a broker's policy. When in doubt, ask your broker.

Mar 15, 2016 12:07 AM

Upvote

Rainmaker
6,543,889

Roy Kelley

Realty Group Referrals - Gaithersburg, MD

Anything that appears to be too good to be true.

Mar 14, 2016 11:58 PM

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Ambassador
1,576,205

John McCormack, CRS

Albuquerque Homes Realty - Albuquerque, NM

Honesty, Integrity, Results, Experienced. HIRE Me!

Oh the list goes on and on.

Mar 14, 2016 11:45 PM

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Rainmaker
1,456,727

Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Alex Stephens Bait and switch.

Mar 14, 2016 11:14 PM

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Rainmaker
846,020

Jeff Pearl

RE/MAX Distinctive / LIC in VA - Lovettsville, VA

Full Service Full Time Realtor

People trying to rush you to sign anything that you haven't had time to read.

Mar 14, 2016 11:00 PM

Upvote

Rainmaker
3,321,246

Scott Godzyk

Godzyk Real Estate Services - Manchester, NH

One of the Manchester NH's area Leading Agents

Any thing that asks them to do anything after closing or not in the HUD

Mar 14, 2016 10:35 PM

Upvote

Rainmaker
882,421

Annette Lawrence , Palm Harbor, FL 727-420-4041

ReMax Realtec Group - Palm Harbor, FL

Making FLORIDA Real Estate EZ

Fraud wears many suits.

Utah Law may be different. Ask your instructor the condition under which full fiduciary duties are owed the client.

Bring the response back and then we can chat about fraud.

Be careful folks. Do you think I would ask a question with a blatantly obviously answer, which of course would be incorrect?

Mar 14, 2016 10:34 PM

Upvote

Rainer
390,419

Anna Hatridge

R Gilliam Real Estate LLC - Farmington, MO

Missouri Realtor with R Gilliam Real Estate LLC

Good question. Red Flags mean stop and consider the validity of the claim. Does it make sense? Can you find a paper trail? If in doubt walk away.

Mar 14, 2016 09:05 PM

Upvote

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Buyers, sellers, agents, lenders, home inspectors, appraisers, stagers and anyone else involved in the real estate business or transactions can all benefit from following my motto: " Be A Professional " !

Being professional means avoiding "red flags" by being ethical in all we do. If it appears any of these parties is being unprofessional, then that is a sure sign to step back and look for the red flags before proceeding.
FSBOs are sometimes frauds, especially in resort areas. Those listed on Craigslist with unusual restrictions for showings and requesting a cash deposit are suspicious.
If it smells toon good to be true it is too good to be true.
There are many. As an agent, one of the most frequent issues is occupancy fraud, that's a tough one to catch but if you ask the right questions it's easy to weed out. If something seems shady or just not right, chances are your gut is on to something.
Double talk, no talk, and talk with forked tongue tells all about anyone
Anything that falls out of a standard contract and does not follow a broker's policy. When in doubt, ask your broker.
People trying to rush you to sign anything that you haven't had time to read.
Any thing that asks them to do anything after closing or not in the HUD
Fraud wears many suits.

Utah Law may be different. Ask your instructor the condition under which full fiduciary duties are owed the client.

Bring the response back and then we can chat about fraud.

Be careful folks. Do you think I would ask a question with a blatantly obviously answer, which of course would be incorrect?
Good question. Red Flags mean stop and consider the validity of the claim. Does it make sense? Can you find a paper trail? If in doubt walk away.