It’s all over the headlines: the Denver housing market has been strong, and the state’s economy is booming. Now is a great time to jump in and grab your piece of local real estate in Denver.
However, with all good opportunities come opportunistic scammers hoping that you’ll part with your hard-earned cash instead of your home. Protect yourself from falling victim to a scammer by knowing what dangers lurk in this market. Here’s how to dodge the scams when buying real estate in the Denver area:
1. The Property Isn’t as Described
Scammers will put on airs to trick their victims into thinking their home is in better shape than it actually is.
Look for tell-tale signs that indicate that the owner may have been trying to hide something: too many drapes pulled shut, the garbage cans are overflowing, and so forth. You should also talk with the neighbors about whether they’ve had any problems.
2. The Seller Wants Your Cash in a Hurry
Be on the lookout for sellers who are eager to make a sale and will agree to do whatever you want (such as paying closing costs) to fill their coffers quickly.
This could be an indication that the seller is looking to divest themselves of property they’ve obtained via underhanded means, such as foreclosures, and need cash fast.
3. Sellers Use High-Pressure Tactics or Coercion
Watch out for aggressive sales pitches where you’re being told what deal or price is available only one time and sellers who are quick to say, “take it or leave it.” You should also be on the lookout for anyone who tries to intimidate you into making a deal.
4. The Seller Wants Cash
Most sellers will accept payment via check or money order; however, some scammers may request cash only (usually because they don’t want to have a paper trail). If this happens, back out of the deal until the seller accepts payment by check or money order.
Avoid Falling Victim with a Trusted Real Estate Agent
If you want to avoid falling victim to a real estate scam in Denver, partner with an experienced real estate agent who has the experience and expertise to avoid scam artists and provide a level of transparency that you can count on.
If you are ready to experience a safe and secure purchase, contact your local agent today to learn more about local real estate in Denver today!
Visit Colorado Home Realty for more details.
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