🚨 Land Scam Uncovered: Protect Yourself in Real Estate Investing 🏡💔
In a recent NAR article from October 2023, alarming statistics reveal that losses from real estate and rental scams have surpassed $396 million. Scammers are now targeting vacant land, posing as property owners and luring real estate agents into listing these properties at seemingly irresistible prices.
Watch out for red flags like selling below market value, electronic-only communication, and a preference for remote closings with a prearranged notary. FBI's Internet Crime Complaint Center warns that these scams have defrauded buyers and left a trail of chaos for property owners, brokers, and agents.
We also share a firsthand account from a Reddit post in August 2023, where a lot was unknowingly part of a scam. The buyer updates their journey, highlighting the importance of title insurance and vigilance during the transaction.
Q&A covers essential topics: title insurance, MLS listings, and detecting scams. Learn from their experience and stay vigilant in your real estate endeavors. 🔍💼
#RealEstateScams #LandScamAlert #ProtectYourInvestment
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Hit that subscribe button and turn on notifications to stay updated on all things real estate! The Doug Edrington Podcast, your insider's guide to Chattanooga real estate! Join Doug & occasional guests from The Edrington Team as they unpack the latest trends, tips, and insights in the local real estate scene. Whether you're a prospective home buyer or seller, seasoned investor, or simply curious about the Chattanooga market, Doug & his team have you covered. Tune in for engaging conversations, expert advice, & a closer look at the exciting world of real estate in Chattanooga.
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