Real estate can be a very dangerous investment if you are not protected properly. What should be an extremely exciting time sometimes ends up being a nightmare. This is why you need an Austin real estate fraud lawyer. There are several things that could happen that might be what we would consider real estate fraud. You may become suspicious if someone is giving you misleading information, is not acting the way they said they would or have been giving you misinformation. It is sometimes easy to tell that there is an issue. If you are worried about being a victim of real estate scams, please call Austin real estate fraud lawyer Daniel Smith today to go over the details of your can and see how we can help you.
Sometimes in these real estate transactions, there will be the use of fake personal information. Either a client or an agent could be using stolen information. It is typically when all of the paperwork is being looked over that lawyers uncover the truth and find out that there is stolen information. It is not uncommon for you to be involved in a real estate transaction and be oblivious to the fact that there is fraudulent activity.
Types of Real Estate Fraud
Most of the time, when there is fraud in real estate, it is because there has been stolen information. The consequences of these actions is getting a home taken from you, being forced to file for bankruptcy, taking a hit to your credit score, and several other things that are terribly detrimental. Real estate is a criminal’s best choice for fraud like this because the transactions are so huge. You cannot hide these fraudulent attempts from trained attorney who look deep into the transactions before they go through. A lawyer will be able to make sure everything you’re doing is lawful. If this is done without the help of an experienced attorney, you may not be able to follow through with the transaction.
There are certain people who get targeted more than others. Typically, the victims are older and or have some type of impairment. Unfortunately, elderly are targeted more frequently because they are considered to be less sharp mentally. Then there are the victims who do not have a very happy real estate transaction. Those people would be anyone going through foreclosure. What they will do is talk to the holder of the mortgage and tell them that they will be able to temporarily save the home. They want to be able to use loopholes to get rid of the mortgage. You fall victim to these incidents when you are too trustful or people who pretend to be real estate agents.
Scam artists are skilled in what they do. One technique is to tell homeowners that they can refinance or improve the home value by doing improvements in the form of loans. They are not actually real estate agents and you should never give them access to your loan information. Some scam artists act as buyers and they have a way to get sellers to relist the real estate much higher. For this to be profitable, the scam buyer takes the remainder money from the mortgage and they take off with that profit. This is considered to be illegal flipping of a house.
When you get into any real estate, you need to be vigilant about your education. Those who are more informed are less likely to fall victim to real estate fraud. You don’t want to get caught up in any of these scams, so make sure that you are doing what is necessary to keep yourself protected. Part of that is hiring a skilled Austin real estate fraud lawyer to take care of your real estate transaction for you to make sure that everything is as it should be.
Call Our Austin Real Estate Fraud Lawyer
If you suspect you have fallen victim of fraud, please don’t hesitate to call Austin real estate fraud lawyer Daniel Smith to get a free consultation. We will guide you through the entire legal process and do everything possible to protect your rights.