The real estate market, due to the high cost of its components, has always been attractive to scammers. A little effort – and a large amount of money in your pocket. Good income in a short time. Why not an alternative to many years of work for the same amount in the end? With the development of possible schemes for the acquisition of housing (through the privatization of municipal housing, with the help of credit funds, maternity capital, etc.), fraud schemes in this area are also changing. The number of fraud schemes and the overall proportion of real estate transactions associated with deceitful activities are also increasing.
Due to the active development of the Internet, fraud in the online real estate market has also become widespread. This includes the creation of fake sites that aim to steal personal data, detection of IP addresses, fraud in real estate transactions, etc. Luckily, by using the best Mac VPN, everyone can be protected online. Practice shows that VPN download for mac is an absolute must for those who are buying, selling, or renting real estate. VeePN fully protects the user’s privacy online. VPN changes IP, provides a secure connection, preventing data theft. Moreover, VPN for iMac can be used to access online content that is not available in certain regions. Be sure to use it and provide yourself with complete privacy and security online.
Read below in detail about what real estate scams are common today. Knowing about them will help you to be more attentive to any deals and, as a result, not become a victim of realtors’ tricks.
Real Estate Market: What Are the Most Common Scams?
Here are some of the most common scams used by fake realtors:
- Lease of apartments by people who are not homeowners. This is one of the most popular methods of earning by scammers in the real estate market. It is common in the rental market. The scam is based on carrying out rental agreements with people who are not homeowners. In this case, the real owners may not guess that their apartment is rented;
- Sale or lease of real estate to several people. Another popular method of fraud is the sale or lease of real estate to several people (tenants or buyers). It is usually implemented by forging documents for the apartment and passports;
- Low real estate price. This is a method of deception when selling real estate, the owners of which have agreed to a deal under pressure. Or the property for sale is under arrest or bail. Such real estate is usually put up for sale at a low price, and buyers in a hurry often lose vigilance and neglect the inspection of housing;
- Fraud with advance payments. Fraudsters often use various schemes related to advance payments (so-called deposits). It happens that a deposit is taken from several buyers or tenants, and fraudsters with money simply disappear;
- Large prepayment. The scheme works, provided that the scammer receives a large amount of money. The tenant is offered a fairly low price per month of rent, but instead, he needs to pay in advance a large prepayment. For example, for the year ahead. Upon receipt of the funds, the scammer immediately disappears;
- Theft of personal information. This is a fairly common way of fraud in the online real estate market. Its essence lies in the fact that fake realtors send you the address of a fake site so that you can pay for the work of a realtor, and then steal personal data. At first glance, everything looks official and there is no doubt. But in fact, scammers find out your personal data, including payment information;
- Determination of the IP address of the client. Often, scammers ask customers to follow a certain link to visit a website that provides up-to-date information about the cooperation. As soon as you follow this link, the scammer will receive all the data on your IP, including the card numbers from which you pay online;
- Online correspondence instead of a personal meeting. Scammers in the real estate market do not often want to meet with a client but prefer to correspond. They ask for personal information, then receive an IP address and payment information, after which apply various fraudulent schemes easily and simply.
In addition to the above, there are other ways to deceive sellers and buyers of real estate, which can be much more thoughtful. Therefore, you need to be careful and cautious at every stage of renting or buying an apartment, even if you do not notice the threat at first glance.
How Do You Know if a Seller Is Scamming You?
In order not to expose yourself to any risk, you need to be very careful. Even in a large company, there can be a dishonest specialist who temporarily gets a job to realize his felonious intentions.
First of all, it is important to pay attention to the cost and prepayment. The low price of real estate compared to similar offers is a clear signal that there are some pitfalls. Another danger is to buy real estate with encumbrances at the market price. Therefore, it is important to perform a full check of the “cleanliness” of housing. This includes an extract from the Unified state register of rights to real estate containing information about utility payments, the existence of debt for overhaul, people registered in this housing, etc. It is also important to check in advance all the clauses of the contract that you are going to sign. Any incomprehensible moments should alert you.
So, there are many fraudulent schemes in the real estate market. A special place belongs to online scams, as they are gaining the widest distribution today. By protecting yourself with a VPN, you don’t have to worry about some of your data becoming public. They will be securely protected on the network.