Tips for Seniors to Avoid Real Estate Fraud
We know that people who commit fraud often target and exploit senior citizens. Want to avoid being a victim of fraud? Keep reading.
The California Bureau of Real Estate has assembled a great list of specific tips seniors can use to help protect themselves against fraud in the area of real estate. Areas covered include:
- Common types of real estate fraud
- Unlicensed prepaid rental listing services fraud
- Timeshare resale and rental schemes
- Online rental fraud
- Unlicensed property managers
- Real property recordation fraud
- Real property investment schemes
- Reverse mortgage scams
Remember that fraud by predators and scammers against seniors in the area of real estate requires being vigilant and skeptical. Many legitimate, reputable, licensed and competent professionals work in the real estate and mortgage fields. You will need to do some research and homework to make sure you work with them.
So unfortunate that this has to even be discussed. There should be extreme penalties for those who prey on what our seniors have worked for!
Thank you for bringing awareness not only to our elders, but to many of use who have grandparents who can be vulnerable to these type scam companies!
This advice for many people will be useful to inform others about it!
So sad that people can be frauded not just by web hacking but by people masquerading as licensed professionals. Great tips for everyone!
I had no idea seniors were so targeted for fraud! Thank you for the advice, this is important for every senior to know.
Are there any ways to prepare for the increased risks that come with age?
An attorney, specializing in elder law, is the best way to prepare.
Scams and fraud come in many different shapes and forms and dodging from them can be a little bit harder these days. Why? Because more people are becoming wiser and smarter. If you are someone dealing with the elderly, you need to inform yourself about the dos and don’ts when avoiding scams.
Check this out How to Avoid Becoming Vulnerable to Scams Aimed at Elderly
Hope this will also help. Thank you.