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Real Estate Investing

5 Sketchy Real Estate Scams You Need To Look Out For



If you’ve been scouting for property, it can get fairly stressful when you’re looking to nail the right buy. Many real estate agents know this and they could throw a curve ball your way. Here’s where you need to be cautious and look out for scams that might pop up.

1. Fake Leases, Tenants and Other Surprises.

Imagine you walk into your new home only to realize it’s already sold and owned by someone else. Surprised? A few cases highlighted that scammers advertised a property as their own, created a lease, bagged the down payment and even managed to provide the keys to the new tenant, only for them to realize afterward that they’ve been scammed.

2. Hackers Making Away With Your Details (And Your Money!)

Image result for hackers

A hacker could email you bank details to wire your payment under the pretext of being a realtor. Despite warnings from regulators on this, both agents and their clients fall victim to this. A couple of ways to prevent this would be to ensure that you zero in on a purchase that does not demand any closing costs, verify with your realtor the details that were emailed to you, up your security and avoid using public wi-fi.

3. Moving Scams.


Unfortunately, this might be a hard one to spot earlier on – but there have been instances where packers and movers hold your stuff hostage until you cough up a much higher sum than what was agreed upon. What makes matters worse is when some of your belongings are missing. What can be done to prevent this? Perform a due diligence and check everything about the movers – right from ratings and reviews to insurance.

4. Check If Your Realtor Is Indeed A Realtor.

This scam throws up many unlicensed realtors or folks pretending to be a realtor who woo property buyers, only to have the money wired through Western Union or other third-party payment services. This should raise a red flag and could potentially draw legal trouble – check the background and confirm the authenticity of the realtor before you engage with them.

5. Swapping Your Arc Fault Breaker.


Since arc fault breakers can add a significant cost to renovating a house, renovators fix the expensive one, only to return and swap it with a cheaper breaker.

Real Estate Investing

Here’s Why You Need To Use A Mortgage Broker When Buying Your Home



Would you like to build or buy a home today?

There are many factors that you should consider. You will note that earlier on, most people used to visit banks in order to get loans that could enable them build or buy a house of their dreams. This used to work well for some people.

However, others used to have a difficult time securing loans. This is because some banks used to charge higher interest rates. This normally discouraged these people. This is the reason why you should consider using a mortgage broker.

What are the advantages of working with this broker? These include:

1. Enable you to Save Money

Would you like to save more money when you are buying a home? You should consider using the services of a mortgage broker. You will realize that this broker can help you compare several home loans from dozens of lenders.

You will not be dealing with one lender only. The good news is that you will be dealing with different lenders. This can help you get a good deal in terms of interest rates and fees.

This can play a major role in helping you save more money.

2. Saves Time

The process of getting a home loan can be very tasking. You have to visit different lenders so that you can compare their interest rates. Sometimes, you might not have all this time. You might end up choosing a lender who charges you more interest.

If you want to save more time, you should consider using the services of this professional. The good news is that this professional will do most of the work for you.

This will include the following activities; liaising with conveyances, real-estate agents, lenders and even settlement agencies.

3. More Peace of Mind

Securing a good mortgage loan can be very hectic. Most people normally struggle to secure these loans successfully. This can make you not to enjoy some peace of mind.

However, the good news is that this professional can help you secure a good loan successfully. You can trust that he will go for the best option out there. This can help you have some peace of mind as you will be doing other activities either at home or at the workplace.

You will realize that this professional will stay in contact with you to check if you have the right mortgage from the right lender.

4. Little Chances of Refusal

There are people who normally apply for a mortgage loan and are denied this loan. This could be due to their credit score, among other factors. This can be detrimental. You are likely to get frustrated.

Some lenders are very strict. However, there are some who are lenient. This is because different lenders normally have different credit policies and restrictions regarding who they will lend to. This is the reason why you should choose this broker to help you out.

This broker will considerably reduce the chances of refusal because he has vast knowledge on lender policies. He will help you settle for a good deal. Thus, an increase the chances of you building or buying your dream home.

5. Professional Advice

You can trust that this professional will help you understand all the mortgage-related information. He or she will help you understand the numerous types of mortgage available out there.

You will note that each of the mortgage types normally has its own parameter and technicalities. This can actually be very confusing to the common man. This mortgage broker will help you sort out all this information and also explain the different types of deals available in the market.

The good news is that this expert will help you narrow down the information to finally choose the mortgage that suits your needs. Sometimes, it is difficult to understand all the legalities that are related to mortgages.

However, this professional will give you professional advice in this field. This can help you avoid certain pitfalls since you will be fully aware of everything that you must know.

6. More Convenient

We all like convenience. The good news is that the professional will work hand-in-hand with home loans and lenders every day of the week. You can trust that this professional will assure you that the entire process will go smoothly and successfully.

7. He Represents you

The good news is that the mortgage broker normally represents you. You can trust that he will work on your behalf and not on behalf of a particular bank.

He will work with different lenders to ensure that you get the best deal out there.

8. You do not have to Pay this Broker Directly

You will realize that you do not have to pay this broker directly for their services. In most cases, they are normally paid by the financial institutions that arranged your mortgage. This makes it ideal to work with this broker.

The mortgage broker normally works for you. He is independent and can help you navigate the often confusing world of mortgages. He or she will work on getting the best deal for you.

This is because dealing directly with the companies can be hard. Some of them might not have the best interest in mind. This is the reason why you should consider using the services of a mortgage broker.

In addition, he or she will help you save more time in the long run. You can carry on with your usual activities either at home or at work as the broker works for you.

You will even manage to save more money. Consider hiring the services of this broker, and you will not regret. The services of this broker are truly incredible.

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