There were reports in 2010 about people who advertise rental properties that do not legally belong to them according to Homes For Sale Saint Louis experts. And it hasn't gone away.
They advertise a house for rent online saying how beautiful this home is. They suck you in with all the amenities and ask that you request an application.
But to your surprise, you are hit with a letter describing their plight stating the unsuccessful bid to sell their home which in this economy could be the truth. Now they are ready to rent and thus need your help.
Some give the excuse that they had a bad realtor who tried to sell their home but couldn't and have now decided to take it off the market.
Most of these advertisers will not ask you to submit an application and to expedite matters to include a down payment and or the first month's rent and then ask you to remove the "for sale" sign out of the yard.
This real estate hoax has not gone away. The perpetrators utilize better forms of advertising and prey upon the sympathies of those needing a home.
Rental fraud can be avoided by heeding these important tips:
1. Avoid any type of rental advertisements that appear to be a form letter.
2. Read the e-mail carefully and see if they answer any questions you submitted in your inquiry. If not, it probably is a form letter.
3. Once you ascertain the address of the property, type it into Google with the zip code if possible. You will definitely pull up listings on the search engines about this property such as is it listed "for sale." Jot down the real estate agent's phone number and call about this property for rent. If the agent says it is not, you were a target of rental fraud from an anonymous person. Report this to the agent and where you saw this property advertised for rent.
4. Never, ever meet someone at a different location other than the address of the rental property after you have done your due diligence on the Internet and made any phone calls necessary.
5. You certainly want access to the home so that you can view it. If the owner tries to make excuses, say no and move on.
6. And last but not least, never give cash or send cash to someone that is in another town as this definitely sounds like rental fraud. And for obvious legal reasons, never remove a "for sale" sign from a yard. You may be a good Samaritan but save the goodwill gestures for someone truly in need.
Dennis Norman, a local writer for the St. Louis Real Estate News brought out a good point as to rental fraud.
A scammer duplicates postings from legitimate real estate sites, alters them, and reposts them. Often, the scammers use the broker's real name to create a fake e-mail address, which gives the fraud more legitimacy. When the victim sends an e-mail through the website inquiring about the home, they receive a response from someone claiming to be the owner.
Many say they are doing some type of missionary work and need to rent their former home out. They then ask you to send money to them at their foreign address and thus you lose your money.
WARNING: Real estate agents or their assistants (although no fault of their own) may also want to briefly check the places where they advertise their properties as to avoid any future complaints and irate phone calls from those who may have fallen victim to these scams.
You can check out any type of property very easily nowadays if you have access to the Internet.
Keep in mind that you may need to sit back and look at this logically instead of emotionally. Although the house my be tempting to jump at, think twice before putting your money at risk.
These tips that are recommended by St Louis mortgage brokers and real estate agents will help you avoid losing your money and valuable time.
They advertise a house for rent online saying how beautiful this home is. They suck you in with all the amenities and ask that you request an application.
But to your surprise, you are hit with a letter describing their plight stating the unsuccessful bid to sell their home which in this economy could be the truth. Now they are ready to rent and thus need your help.
Some give the excuse that they had a bad realtor who tried to sell their home but couldn't and have now decided to take it off the market.
Most of these advertisers will not ask you to submit an application and to expedite matters to include a down payment and or the first month's rent and then ask you to remove the "for sale" sign out of the yard.
This real estate hoax has not gone away. The perpetrators utilize better forms of advertising and prey upon the sympathies of those needing a home.
Rental fraud can be avoided by heeding these important tips:
1. Avoid any type of rental advertisements that appear to be a form letter.
2. Read the e-mail carefully and see if they answer any questions you submitted in your inquiry. If not, it probably is a form letter.
3. Once you ascertain the address of the property, type it into Google with the zip code if possible. You will definitely pull up listings on the search engines about this property such as is it listed "for sale." Jot down the real estate agent's phone number and call about this property for rent. If the agent says it is not, you were a target of rental fraud from an anonymous person. Report this to the agent and where you saw this property advertised for rent.
4. Never, ever meet someone at a different location other than the address of the rental property after you have done your due diligence on the Internet and made any phone calls necessary.
5. You certainly want access to the home so that you can view it. If the owner tries to make excuses, say no and move on.
6. And last but not least, never give cash or send cash to someone that is in another town as this definitely sounds like rental fraud. And for obvious legal reasons, never remove a "for sale" sign from a yard. You may be a good Samaritan but save the goodwill gestures for someone truly in need.
Dennis Norman, a local writer for the St. Louis Real Estate News brought out a good point as to rental fraud.
A scammer duplicates postings from legitimate real estate sites, alters them, and reposts them. Often, the scammers use the broker's real name to create a fake e-mail address, which gives the fraud more legitimacy. When the victim sends an e-mail through the website inquiring about the home, they receive a response from someone claiming to be the owner.
Many say they are doing some type of missionary work and need to rent their former home out. They then ask you to send money to them at their foreign address and thus you lose your money.
WARNING: Real estate agents or their assistants (although no fault of their own) may also want to briefly check the places where they advertise their properties as to avoid any future complaints and irate phone calls from those who may have fallen victim to these scams.
You can check out any type of property very easily nowadays if you have access to the Internet.
Keep in mind that you may need to sit back and look at this logically instead of emotionally. Although the house my be tempting to jump at, think twice before putting your money at risk.
These tips that are recommended by St Louis mortgage brokers and real estate agents will help you avoid losing your money and valuable time.
About the Author:
To get a commercial loan audit, go to Floyd Tapia's site at www.StLouisMortgageGroup.com. A St Louis mortgage refinancing expert can help get you a great home loan or save you from foreclosure with a principal reduction program. Call us at 314-334-0210 or 877-334-0210.
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