While these cases are on the rise with the recent Simple Homes and now Bishop Gakuyo’s Estate, We encourage our clients and customers to be very vigilant. Below are a few other scams to look out for as a prospective renter and home owner.
The Empty Houses scam
Usually the cons will lease out homes of individuals who travelled for a long time probably on vacation or official business. The listings are then posted online for home owners and renters posing as the real owners of the said property or authorized agents to sell and collect rent on behalf of the homeowners. In other times the cons will involve spare keys from locksmiths to get access into the house until the real home owner shows up.
The Insincere Seminars
Many developers are on the rise looking out for the best interest of their prospective buyers, more often than not organizing for free and open forums. Usually the intention is to advise on the best way to utilize and manage finances or the best ways to source for mortgages. While the forums seem legitimate, usually the knowledge is redundant and of less education. However better forums are promised to individuals who pay up for the next ‘big’ seminar.
Houses that are Legitimately for Sale then are rented
Here, a fake real estate agent will post a fake rental listing for a home that is actually for sale. They’ll offer the house at far less than it is worth to draw in potential buyers more quickly. Usually the reason to rent the house is because the home owner is traveling, relocating or owning another house. The con will take a deposit from any and all interested buyers, have the buyers sign fake rental agreements and will then disappear. This one is especially dangerous because victims may also lose their identity to the fraudsters.
Foreclosed on Houses become Rented
This is when it involves a Real Homeowner who is facing foreclosure therefore end up renting out their home as an alternative to seek residence elsewhere.
An agent can also decide to list a foreclosed on home and offer a value too good to be true.The house tour is done for several unsuspecting buyers who may end up leaving the agent with the house deposit.Until it is time to move in that the agent is nowhere to be seen.
Temporary residence for Out of Town Renters
The perpetrators assure unsuspecting visitors that they will find a temporary home while on their visit to a new city.Money is then to be wired to cover deposit.Upon arrival at the city, the victims realize the property they rented is actually somebody’s home and have no place to stay. Making it even more difficult, it’s just about impossible to recover the money that was wired as it is incredibly difficult to trace.