Scams are everywhere. And real estate scams can be very costly.
Here are 6 red flags to look for in real estate:
1. The deal is too good to be true.
You know the rest of this adage: "And it probably is." Watch out for online postings that have rents that are below the going market rate.
2. The seller is not familiar with the neighborhood.
Sellers should be familiar with the neighborhood knowing about schools, shopping areas, and more.
3. Stuff is missing or not quite right.
Do the locks look new? Are there missing appliances or repairs that normally are done?
4. The seller's actions don't make sense.
Does the seller seem too accomodating? Is the seller in a rush to settle? Don't make a payment before you meet face to face, see the place or sign a lease.
5. The work is already done.
You should be the one getting the title or the appraisal. If this is already done, walk away!
6. The seller requests an immediate wire transfer of funds.
If they are asking you to wire money for anything (deposit, application fee, first month's rent, etc), be wary!
If you feel that something is wrong in your gut, ask questions, do your due diligence and (if all else fails), walk away!