You finally made the decision to buy your first home. You put in the time to find the right home and get financing from a mortgage company. As you are looking forward to your closing date, there are some people who would try to pull different real estate scams on you and turn your experience into a nightmare.
To protect yourself and your investment, here are some of the more common scams:
- Emails requesting you wire transfer closing funds. These emails are almost always an attempt to scam you out of this money. Most closings require you to show up with a cashier’s check in hand.
- An offer to purchase the home for more than what you paid. You may be contacted by someone who tells you they are very interested in buying the home and will pay you twice what you paid, as long as you prepay their closing costs today.
- Calls or emails from bogus moving companies. These scammers want you to prepay for your move and entice you by offering low rates. Professional movers will never ask for payment until you are in your new home.
- Emails requesting you prepay homeowners’ association (HOA) fees. Your HOA will not do this before the closing. Instead, they will mail you a letter or come talk to you directly once you move in.