Washington Dc Investment Property Deals - Naughty Tricks The Lure In Buyers
When investing in Washington DC investment property it's easy to make profits. These homes may be great opportunities, but sometimes con artists use wholesales to take advantage of homebuyers. If you are careful and follow some commonsense guidelines you can protect yourself from these con jobs.
To start off you'll want to avoid making a simultaneous close. These closings are difficult to get title companies to handle because they have a bad reputation for causing confusion. It's just easier to avoid these kinds of wholesale closings if you can. As far as actual scams go, one to really beware of in real estate is the faux house appraisal.
The false appraisal can be a scam that is practiced by anyone, the owners, lender, or even a buyer to increase the money they bring in on a property. While the person who bought or sold the home ends up stuck with a deal that they can't make any money on and may even lose cash on. One way to stay clear of this con is to get your own home appraisal from your own appraiser! You can also get comps by looking up the selling prices of other homes in the area that are like the property you are interested in.
A lot of new investors or homebuyers are drawn in by these scams. You may get a phone call or invitation from a company hosting a free real estate seminar with food. Not only will they ask you to register with your name, address, and phone number; they will also ask for your social security number. This is a big no-no and investors should never give out the social as it can be used illegally.
When the con artists get the investor's social they will use it to determine which attendees will be able to take out large home loans. If the investor is picked as a mark, they'll be pitched a deal about a home that's worth more than it's selling price and all the investor needs to do is get a loan. Should the investor decide to buy the home with a jumbo loan they'll be surprised with a mortgage on property that's worth less than the loan. Make sure to avoid this scam by performing the comps analysis of your Washington DC investment property.
This way when you invest in Washington DC investment property you'll save your money and end up being more successful in the long run. Research by getting a home inspection; making sure the homeowner is the homeowner and getting a market value for the property. Also, make sure you get your loans from a lender of your choosing.
Get started with Washington DC investment property deals today when you click the link! Only skilled investors know when to buy so get the heads up from us...Washington DC investment property.
To start off you'll want to avoid making a simultaneous close. These closings are difficult to get title companies to handle because they have a bad reputation for causing confusion. It's just easier to avoid these kinds of wholesale closings if you can. As far as actual scams go, one to really beware of in real estate is the faux house appraisal.
The false appraisal can be a scam that is practiced by anyone, the owners, lender, or even a buyer to increase the money they bring in on a property. While the person who bought or sold the home ends up stuck with a deal that they can't make any money on and may even lose cash on. One way to stay clear of this con is to get your own home appraisal from your own appraiser! You can also get comps by looking up the selling prices of other homes in the area that are like the property you are interested in.
A lot of new investors or homebuyers are drawn in by these scams. You may get a phone call or invitation from a company hosting a free real estate seminar with food. Not only will they ask you to register with your name, address, and phone number; they will also ask for your social security number. This is a big no-no and investors should never give out the social as it can be used illegally.
When the con artists get the investor's social they will use it to determine which attendees will be able to take out large home loans. If the investor is picked as a mark, they'll be pitched a deal about a home that's worth more than it's selling price and all the investor needs to do is get a loan. Should the investor decide to buy the home with a jumbo loan they'll be surprised with a mortgage on property that's worth less than the loan. Make sure to avoid this scam by performing the comps analysis of your Washington DC investment property.
This way when you invest in Washington DC investment property you'll save your money and end up being more successful in the long run. Research by getting a home inspection; making sure the homeowner is the homeowner and getting a market value for the property. Also, make sure you get your loans from a lender of your choosing.
Get started with Washington DC investment property deals today when you click the link! Only skilled investors know when to buy so get the heads up from us...Washington DC investment property.
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