Buying or selling a home involves a considerable sum of money. That is why transactions like these are being used by scammers and fraudsters to get easy money. However, there are a few simple measures that you can take to protect yourself.
You have to remember that fraudsters operate in a variety of ways. Some of them use social engineering to get close to their victims and strike while their targets are at the most vulnerable. That means it’s when these people have already put their trust in the scammer. If you want to protect yourself or upgrade the current measures you have in place, you are reading the right article. Below are some of the things you may want to take into account.
Precautions when sending documents
The real estate industry has also been dependent on technological changes. Nowadays, real estate agents send contracts online via PDF format. However, these documents contain sensitive details about you and your transactions. Some of these details might even be used to impersonate you. When sending documents, experts advise using transaction management platforms. Better yet, you should give your documents in person as much as possible.
Be mindful of the pressure
It is a known reality among real estate agents. They can be quite nagging, especially when there deadlines in terms of payments. But if you notice that your agent is more than nagging and is pressuring you to settle your payments or make a decision, you should think things through. Some scammers and fraudsters want their victims to make a decision fast, so they can also leave right away.
Talk to your agent
One of the many conveniences of online transactions is that you can easily pay bills. But before you wire-transfer your payment, you need to call the recipient to verify the account details. If there is an inkling of doubt bothering you, call the agent and check if the request came from them. It is one measure that you should take if you notice that the demands of you are quite unusual.
Be wary of changes in documents
It is just natural for buyers and sellers to check their documents all over again. If you see inconsistencies with the papers, and you notice that some details have been changed, don’t hesitate to ask why these happened. For safety, you must work with someone who specialises in real estate documents management. For one, you can work with reliable conveyancing lawyers.
Whether you are buying or selling a house, you need to acknowledge the fact that there are some scammers and fraudsters that are waiting for their next victim. That is why you need to be more than alert. You should also pick the right people to work with. With the proper measures in place, you are reducing the number of risks that you will need to face when buying or selling your property. However, do not be too confident with your measures. You should revisit them and make necessary adjustments when possible.