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Common Real Estate Scams To Avoid When Buying A House » Scammer News

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Many homebuyers recognize the value of hiring a real estate agent to help them through the legal process, negotiating a great price, and even just finding available homes. Yet, realize, too, that until you vet this person and really ensure they’re who they say they are, you can’t be too confident in providing them with information or financial resources, especially over the phone or digitally.

One reason for this is the risk of a wire scam, according to Rocket Mortgage. In this scam, a person poses as a real estate agent, often aggressively seeking out homebuyers and offers to provide services, but then requests that the buyer wire funds to an escrow account. They may claim the funds are for your closing costs, and they send you all the information needed to wire the funds.

Sometimes, these scammers can use software to seem as though they’re your actual real estate agent, a person you’ve met in person and vetted,…

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