When buying or selling real estate, you should know what to avoid. There are many scams in this industry just like all others, but one thing is for certain real estate scams cost big bucks and big time. Basic knowledge is the key to protecting your self, family, and finances.
The first rule in dealing in real estate and any financial industry is proper licensing. Make sure you deal with a licensed real estate agent. If a person you are dealing with is not licensed or has not been vetted by a licensed real estate agent or attorney, you should not move forward. Only work with licensed professionals that are overseen by government regulation to protect your interest. If you ever have any concerns about the people you are dealing with, do not hesitate to contact your state real estate commission or attorney generals office consumer fraud unit.
Make sure you do everything in writing and understand exactly what you are signing. At the end of the day if you have doubts, listen to your gut and just walk away.
Johns Hopkins Master of Real Estate