How To Protect Yourself Against Random Home Buyers Posing As Real Estate Agents

How To Protect Yourself Against Random Home Buyers Posing As Real Estate Agents

21 September 2018
 Categories: Real Estate, Blog

There is a frightening new trend in the world of real estate. More to the point, it has nothing to do with real estate agencies or agents. Instead, it is random people saying that they will buy your home for cash while they pose as agents or real estate investors. There are many ways to sell your home, but these particular "buyers" are not a safe option. Most of them will have you sign over your house before giving you a check (if they give you a check at all). Some are very dangerous swindlers too, and if you sign your home over to them, they only have to produce the signed contract as proof that they now own your former home. If you want to avoid these hustlers, and protect yourself against fraud and theft, pay attention to the following advice.

Ask to See Their License

While it is true that you do not need a license to buy several properties, someone posing as a real estate agent or realtor will have a license. Ask to see the license if and when you think you might be face to face with a con artist posing as a realtor/real estate agent. If he/she really is who he/she says he/she is, then he or she will not balk at the request. If this person is a hustler and a fake, he/she will have lots of excuses for not producing a license and/or he/she will turn tail and run away from you.

Ask for a Few Days to Read over the Contract

Most really real realtors and real estate agents give their clients as much time as they need to review a purchase contract. You are even allowed to take the contract to a lawyer to verify the information and agreements in the contract before signing. If you ask this random buyer posing as an agent or realtor for a few days to sign, he/she will balk, seem upset by the idea, and/or push harder for you to sign. In that case, do not sign! There is something in the contract he/she does not want you to see. Instead, contact the police to let them know what someone just tried to pull with you. Give them the contract as evidence, along with a description of the "agent" or "realtor."

Only and Always Conduct Home-Selling Transactions via a Real Estate Agent or Realtor

Yes, an agent or realtor charges for his/her services. However, they can and will sell your home the honest way, and provide you with enough notice on when to vacate after the sale of the home. They will show you the check for the amount they sold your home for and place it on the table in front of you during the signing of all the related sale documents.