When looking to buy or rent a property, the last thing you expect is to be scammed. However, the unfortunate reality is that scams are quite common, especially in this digital era. While online platforms have made buying or renting property easier, this digital transition has also increased fraudulent real estate listings. These false listings can cause financial losses, emotional distress, and legal complications for unsuspecting purchasers and renters. If you are looking to purchase or rent a property, it’s vital that you know how to spot fake real estate listings. Below, we discuss how to spot and avoid fake real estate listings.
One indicator that a real estate listing could be fake is a deal that looks too good to be true. As the famous saying goes, “When the deal is too good, think twice.” If a property is priced significantly below market value, it may be a bait to attract buyers or renters looking for good deals.
When you come across a real estate listing, take the time to go through the description. A listing with incomplete or vague descriptions may be a fake. Legitimate listings will have clear and complete descriptions. For example, a listing that does not provide details about the available amenities or property dimensions may be a scam.
Often, scammers will not post real pictures of the property. Instead, they will use images from stock photos or other properties. You can avoid being scammed by confirming the authenticity of the photos on a listing. A quick reverse image search online can help determine if the images are from elsewhere. Also, you should be wary if there is a mismatch between the photos and the property’s description.
Another way to spot and avoid fake real estate listings is by checking for technical anomalies. If, for example, a URL does not lead to a reputable real estate platform, this could indicate a scam. A website without an SSL certificate may also indicate fraud. To know if a site is SSL encrypted, check its URL. It should start with HTTPS. To get more information on a website’s SSL certificate, you can click on the padlock icon near the address bar.
Be cautious if you are asked to make payments using unusual payment methods, such as through cryptocurrencies or gift cards. Also, be careful if you are requested to make a deposit before seeing the property in person or getting clarification on contract details.
Scammers are usually pushing buyers or renters to close the deal as fast as possible. They may come with stories of many interested parties waiting to buy or rent the property or offer a “one-time” deal that must be seized immediately.
Check documents such as property deeds to determine if a real estate listing is genuine. Personal inspections are also crucial to ensure the property matches the conditions described in the listing.
For legal help, contact our qualified San Francisco real estate attorneys at SAC Attorneys LLP.