Thursday, March 12, 2015

What is considered Real Estate Scam? Who are they? How to recognize them!

Who do Real Estate Scammers try to rip off?   

They prey on people who are uninformed and desperate for money.  Many times they are looking for people who are not fully cognizant of their surroundings,i.e., the value of their home.  No one ever wants to believe that someone is trying to steal their home from underneath their feet, but facing the natural consequences of our actions, or the consequences of a domino effect of life hits, like job lay off, bankruptcy, home in foreclosure, medical catastrophes without insurance (health or health insurance from the previous job has run out), can be absolutely daunting.

These life trials can put us into the hands of real estate scammers.  We can become so desperate to fix our credit reports and amass better credit ratings, that we feel we have to pay an attorney to help fix our situation.  That is just more money out of your pocket.   And if you decide to list your home with a Realtor while it is in pre foreclosure, you should know, that your property can be locked up for as much as six months while their listing is in effect.  You may choose to go ahead and list your property with a Realtor if you are in the early stages of foreclosure.

 If you have missed a few payments and you don't thing you will ever be able to catch up, you can list your home with a Real Estate Agent.  Here is what you need to know:

1)  Real Estate agent fees - both buyer and seller come out of your proceeds - this typically totals about 6% - 7%.
2)  This may be negotiable with some realtors.
3)  The foreclosure process typically takes 4-5 months from the time of the initial lien filing.
4)  So, listing with an agent, it may be possible to sell your home quickly if it is priced low enough to move.
5)  Currently in the 2015 market, there is a high level of inventory and homes typically sell in 6 months or longer if you are looking for the full value of your home.

A Real Estate investor, like us, FINANCIAL INVESTMENT OPPORTUNITIES,  is not going to give you the full price for your home because we are giving you cash for your home and it is an investment.    We also typically will not require any repairs or any other types of things that come out of the sale because that is already factored into our price.  .There are certain legalities of how a Real Estate transaction happens....FINANCIAL INVESTMENT OPPORTUNITIES abides by the law in all Real Estate Transactions.

So when entertaining the idea of using someone else as a Real Estate Investor, watch for these types of things:

If someone wants you to pay for the assessment to see if your home qualifies for a cash buy out.....RUN.
If someone wants you to pay for a home inspection - RUN
If someone wants you to pay for a Title Search - RUN.
If someone wants to bring in their own assessor and have you pay for it - that is not appropriate...RUN
If someone wants you to pay for their Contractor to look at your home - again...RUN.
What if they ask you to take out an equity loan to fix up things?  No - don't do it - RUN
What if they try to make you get a loan or use your existing home to get a new home? - Don't do it.

If someone wants you to pay for ANYTHING - even to fix your home up before they give you the CASH - RUN.

Call us first -805 285 2312   We have a proven track record of taking care of our clients.  We will not ask you for any cash at all.  We will be the ones giving your the cash if your home qualifies.

Check out our website - read our reviews from happy customers.

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