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How Fraud Can Impact Florida Real Estate

If you want a piece of Florida real estate, you have to be ready to act fast. Florida’s real estate market is at the top in the U.S., with buyers from all over the world eyeing Florida as a place to call home or for investment. In our anxiousness not to lose the house or apartment we want to call our own, it can be easy to fall prey to real estate fraud.

To tackle online scams, work with an experienced Florida identity theft lawyer to prevent becoming the victim of real estate fraud in Florida. We work harder than those who exploit unsuspecting buyers, sellers, and renters. 

How Fraud Can Impact Florida Real Estate

Buyer, Seller, and Renter Beware

There are common tactics used to steal your money in a real estate transaction. Being aware and taking proactive measures can save you from major financial loss and hardship. Diligence can also protect you from sharing your personal information with the wrong people allowing for identity theft.

Wire Fraud

The exchange of money when buying or selling a property must happen at some point. It is not uncommon to be unfamiliar with everyone that works to make a real estate transaction happen. So getting a call or email asking for the wiring of funds to an account to pay for a property can seem like an everyday experience. Slowing down to check documents, verify requests, and establish a system of checks and balances with every real estate agent involved can go a long way toward preventing real estate wire fraud.

Never click on links in unexpected emails requesting the initiation of funds. Verify who you are speaking with when on a call, and double-check account numbers and the names associated with the accounts with a reliable source. Demands for quick transactions should immediately send up red flags.

Rental Scams

Using social media pages and online buy, sell, and trade sites is commonplace to seek out homes and apartments for rent. The rental market is also booming, and the perfect place to call home can get scooped up quickly, with millions of people having online access to viewing. But it’s better to lose out on the opportunity than to lose your money.

Very often, the online pictures of rental properties have been copied from actual postings and applied to fake listings. When you inquire about the fake listing, the rentee may ask for a deposit to view the property to confirm your interest or will try to rush you into paying security deposits and rental fees, saying there are other interested parties ready to rent the property immediately, and your money will guarantee you the place you want. 

If you must rent a home or apartment sight unseen, it is always best to work with a reputable agent. If possible, view the property before exchanging money. Never sidestep the appropriate paperwork or fall for any scheme to talk you out of money in exchange for a quick guarantee of renting your dream home.

Fraud Prevention Begins With Knowledge

Years of experience in the evolving tactics of fraud and scams has allowed Sharmin & Sharmin P.A. to build an extensive bank of knowledge to fight against fraud in Florida real estate. We understand the impact that financial loss can have on your family. We apply state and federal law, building strong cases for the victims of real estate fraud in Florida, giving your case the detail and attention it deserves.

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