There seems to be an ever growing epidemic where con-artists advertise rental properties that they actually do not own according to St Louis mortgage brokers.
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.
But the clincher is you as the new renter must submit an application with the down payment and first month’s rent and then do the homeowner a big favor the removal of the “for sale” sign off the lawn.
This real estate scam is coming better stronger than ever with better forms of advertising and preying on the sympathies of those who desperately need a home.
Protect yourself from rental fraud with these vital tips:
1. If you see an advertisement for a rental home that looks like a repetitive form letter, it may be best to avoid this ad.
2. Make sure to submit some questions that you have about this rental property. If you receive no answer, move on.
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. It is a good idea to avoid meeting the owner of the house anywhere else other than the location of the rental property.
5. The owner should be more than happy to meet you at the rental property to allow you access to it. If not, move on to another property.
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.
A local writer for the St. Louis Real Estate website had an interesting comment for those wanting to rent.
Renters need to know that scammers duplicate 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.
The “owner” typically says he and his wife are doing missionary work in a foreign country and need someone to rent their home while they are away. If the victim is interested, he or she is asked to send money to the “owner” in the foreign country. These funds go directly to the scammer, and the would-be renter loses his or her money.
It is getting to the place that real estate agents or their assistants need to check the places where they advertise their properties as to avoid any future problems or angry phone calls from those who may have fallen victim to these fraudulent rental ads.
Potential renters need to do some research on a home by going to the Internet.
This may be difficult to do but never let your emotions get the best of you. It may seem to be the best house for you and your family and perhaps the price may be too hard to pass up.
These tips that are recommended by St Louis mortgage brokers and real estate agents will help you avoid losing your money and valuable time.
When you need a principal reduction program, then visit Floyd Tapia’s site at http://www.StLouisMortgageGroup.com. And to get the best St Louis home loan or principal loan reduction program, call us at 314-334-0210.
|
|