Pre-corona virus the digital real estate environment was already picking up steam. Now with limited in person meetings and less face time, many real estate purchases are happening in a purely digital format.
One thing to be wary of – scams. It’s nothing new for people who have fielded the ever common telemarketer phone call or the fourth call from the surprise Disney cruise – but it’s another thing entirely to have to be cautious when making a large real estate purchase.
There have been multiple accounts where scammers post fake listings, misleading listings, or even interrupt a transaction between buyer and seller. One of the most recent cases occured when when a woman was contacted to switch her payment method from a cashiers check to a wire transfer without a previous agreement with the seller. Soon enough the money was wired to a criminal account and she had to recruit local law enforcement and her bank in order to get the money returned.
So – what does this mean on your home buying journey? Beware red flags such as
- Emails from a different address than you had contacted previously
- Emails with odd grammatical or spelling errors
- Listings that look “too good to be true” for the price
- Changes in contractual agreements with threatening or aggressive tactics
At the very least be sure to be in contact with you agent and keep all lines of communication open as you purchase your first home or your dream home.
-The Altered Properties Team