Beware of these Senior Real Estate Scams
The growing 50+ population is prime for Senior real estate scams. Homeowners need to be aware of these 3 common Senior Real Estate scams and how to protect themselves!
1. Influence Scams
Do not be the victim of a senior real estate scam - talk to your attorney before signing any documents.
2. Low Home Offers
do not be the victim of a senior real estate scam - have a property analysis done by a realtor or have the property appraised.
3. Bad Power of Attorney
Do not be the victim of a senior real estate scam - choose your legal power of attorney carefully and work with a trusted attorney to make good decisions in your best interest.
How to protect yourself if you think you are a victim of a senior real estate scam:
- Take notes that include dates, times, parties involved, location and conversations. The more detailed the better. Write this stuff down while it's happening or as soon as possible after the encounter. Trust me, you will NOT remember everything and any detail could be an important key to help prosecute the actions.
- Don't sign anything until it is reviewed by your attorney, real estate agent, financial advisor or other legal representative.
- Report any scam or fraud immediately to the authorities. Scammers and fraudsters count on their target being embarrassed or reluctant to report a crime, especially those perpetrated by a relative.