There are thousands of Australians who have been involved in a real estate scams. As the real estate and rental market experienced a boom in the recent years, so do the property investment scams. There are many different property investment scams, but they all share the same purpose: stealing money from people who are willing to invest in a new home. Title fraud is one of the most common and difficult-to-discover scams. With this scam, a person use false documents to show himself as a property owner. The false owner register forged documents to sell you a house, which in fact is not owned by him.
If you are thinking to invest in American property, you should be very careful in order to avoid USA property investment scams. The USA property investment scams are very common, especially if you are coming outside USA. People who are not US residents are more vulnerable to frauds, so be careful before you take your investment overseas. Wondering how to avoid frauds? Here are the suggested ways to avoid USA property investment scams.
Protect Your Personal Data – As a potential buyer, you should protect your personal information. Don’t give your personal information to anyone who asks you just like that, for no reason. Why? Because let’s say, if someone finds out your credit card numbers, he or she will seize that opportunity. Update your security system and change your passwords regularly.
Obtain An Independent Valuation – To avoid property investment scams, you need to get an independent valuation from a person who is not employed in a property selling company. It may be costly, but you will spend thousands of dollars on a property in the USA and it would be foolish not to pay a few hundred dollars for a valuer just for a safety check.
Title Insurance – For title frauds, title insurance is the best protection. It protects you not only from title frauds, but also from various USA property investment scams like: existing liens against unpaid debts, encroachment issues (a structure is on the neighbor’s property and needs to be removed, for example) and errors in public records and surveys.
Be Skeptical About Hard-To-Believe Offers – If one offer sounds too good to be true, the chances for that offer to be a fraud are too big. By hiring a professional real estate agent, you will be warned if an offer is suspicious. Real estate agents have experience and know how to recognize a fraud.
