How to Protect Yourself From Getting Ripped-Off in RE Scams!

The California Department of Real Estate has seen a thing or two from professionals and consumers who have recently been ripped-off by real estate scams. It’s become such a big deal they have posted a six page guide to how you can protect yourself.

This is some important information worth sharing with your clients. California’s top real estate regulator notes there is no shortage on fraud and the way its practiced. Key Questions to ask include:

1) Are you licensed by the California Department of Real Estate?
2) How many transactions have you successfully performed?
3) Do you have a list of current and past “satisfied” customers?
4) How long have you been providing professional real estate services in California?
5) What are you actually going to do for me? Please list your services in writing.

Tips on warning signs on what to watch out include:

1) An unwillingness to meet in person
2) The use of more than one contract for the same services
3) Suggestions to assign a mortgage to a 3rd party
4) Advice that you don’t need to read an agreement that you have been asked to sign
5) Requests to provide personal financial information over the phone or Internet
6) Use of lofty language you can’t understand.