Real Estate Scams In Richmond
Real estate scams in Richmond, VA
Selling your house doesn’t come without some risk. Between finding a potential buyer, shopping for agents, and figuring out how much time and money you will have to spend on your sale before you get any profit, there are many inherent risks of a property sale. However, there are some risks that can and should be avoided during the selling process. Real estate fraud is a type of risk that is not only unnecessary to the process as a whole but can be harmful to the seller. In Richmond, here are a few of the housing scams you should be watching out for.
Rental scams and fraudulent listings
According to ABC News, more than 5 million people have fallen victim to rental scams, and around 43% of online shoppers encountered fake listings and “cash for houses” scams. Virginia is no stranger to these scams—lately, there has been an increase in rental scams in the Richmond area. Fake sellers will post pictures of properties they do not own in order to collect rent money from unsuspecting people who are looking for a place to live. They will post pictures of properties they find online, or vacant properties, or even sometimes properties that are currently lived in, to get hapless customers looking for a new home to wire money to them, with nothing to give in return.
Foreclosure relief scams
Scams tend to target the most vulnerable. In some cases, scammers will target homeowners and sellers who are facing foreclosure on their homes. Foreclosure relief scams happen when an individual or company poses as a service that can assist homeowners with delaying or mitigating the foreclosure process. They will ask for an advance payment for their services, then never deliver. These kinds of scams leave home sellers in the lurch, with less money than they had before and with the threat of foreclosure still looming in front of them.
Beware of fake buyers.
When selling a house in Richmond, you need to look out for illegitimate property buyers. If you are working with a buyer you don’t think is legitimate, here are some red flags to look out for:
- The buyer makes constant excuses as to why they can’t keep their terms of the contract or won’t return any required paperwork.
- The buyer reacts negatively as it gets closer to the closing date of the sale and tries to apply pressure to make sure the deal goes through. They may offer an incentive such as a commission bonus, or they may request upfront payment.
- The buyer provides emails, phone numbers, photo IDs, or any type of personal information that is unclear, spammy, or international. In this case, you may want to question their validity.
Always do your own due diligence—find out the legitimacy of the individual or company, do your research, and read reviews from past customers.
Work with We Buy Ugly Houses®.
Don’t fall for any "we buy houses" scams. When you are looking for who you can trust as you sell your house, look no further. We have been helping sellers since 1996, and we are proud of our 96.1% customer satisfaction rate. If you don’t believe us, read our reviews!
- We work with you to give you a personalized experience.
- We guide you through our in-person process.
- There’s no obligation to accept our offer.
This is not just a transaction—this is your life. Don’t become a victim of property fraud. Make the most of your house-selling experience by working with a buyer you know you can trust.
Contact us at 866-200-6475 or fill out our first-step form to get all your questions answered about how we can help you sell your house fast for cash in Richmond, VA.