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Be Careful, Be Alert, Save your Home from Fraud
Dated: February 12 2023
Views: 131
e Careful, Be Alert- Save your Home!!!!!
The latest news circulating about a house being sold without the knowledge of homeowners is scary. These crimes are being committed on the home grounds and not remotely by someone on the phone. The very thought of losing your prized possession in a fraud brings chills down the spine. As a professional, I am being asked by my clients why this is happening, who can be the subject of this fraud and how this can be avoided. In recent times almost 30 cases have become known in GTA area alone. Both parties, buyers and actual homeowners of such property are at loss.
Reason; -
-This kind of fraud can be committed by people who know you or have your information. You could have passed over your ID to someone and then these people can create a fake ID with their pictures and start building their own portfolio.
- Since COVID, most of the showings, signing papers etc. are happening virtually. You must be incredibly careful who you communicate with, check references, brokerages and who they work with. Go check the physical location of your Realtor's office, your Mortgage broker and lawyer’s office. They are your partners in real estate transactions.
- -Another reason could be that Sellers are away for a long time for vacation or work.
Solutions-
-Buy title insurance, that is big peace of mind.
- Avoid buying a house directly from the seller because you are getting a cheap deal, there is a possibility that no background checks have been done. Also avoid buying houses where no ‘for sale' sign or open houses are conducted, i.e public display of sale is not done.
-Do not buy property where the seller is willing to accept an offer way below market value and is looking for a quick closing.
-Leave a car parked on the driveway.
-Have a house sitter, if not regularly, at least some days of the week.
-Put your garbage bins outside on garbage day.
At the end please be mindful of the way people behave with you and be alert in the way people interact with you in these situations.
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Toronto Real Estate Board (TRREB); All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
Data provided by the Ontario Regional Technology & Information Systems. The information is deemed reliable, but is not guaranteed. Not intended to solicit buyers or sellers, landlords or tenants currently under contract.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
