Too good to be true?

We regularly encourage our clients to send us anything they find on their own, through Craigslist & other online resources, so that we can foster the the search. A search will frequently evolve from a general request to something specific, and the nuances cannot always be gleaned through Q & A. We will ask a lot of questions, but experience has shown that there will be something else that catches your eye that didn’t come up in discovery.

We decode what they send, providing insight to the area or address, when omitted or obscure, and educate our clients.

Occasionally, we’re sent listings that are out & out scams. The most frequent one is for the downtown highrise, for some really, really low price (1/2 of what they should be), low or no deposit, all utilities paid, etc. The address might be a little off, the photos are borrowed from somewhere else, but the general description gives you the idea that you can lease this condo for a song. It sounds too good to be true, because it is.

Two common versions of the scam are:

A)Identity theft
-To state that, because they only want to show the unit qualified tenants, an appointment will be set once you’ve applied & passed screening. They get your name, your social, your DOB, your license #, all things that you normally provide through the application process, but they’re using it for dubious purposes. You will never get an appointment to see the unit, after screening, because there is no unit, not at that address/for that price/featuring what the ad purported.

B)A rouse to get you to send your money for the deposit, first month’s rent, and you’ll get keys/access/paperwork. This one is more painful up front, because you’re thinking that you have something secured, and that your search is over. Not only are you out money, you’ve lost other opportunities to lease actual property, and you’re less trusting of the world. It’s sad, but there are people who make their living by preying on the unknowing.

Who do you trust? Your Realtor will be able to spot these scams from the very beginning as just that, a scam. Price/Location/Photos, none of it will line up for a seasoned Realtor, and you’ll be spared a painful lesson.

Greenlight wants you to get the best deal, always.

This entry was posted on Tuesday, June 16th, 2009 at 9:27 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.