SCAM ALERT: FBI Issues Warnings about Real Estate Scams

FBI Warning about Real Estate Scams

There is an increase in real estate scams going on right now and the FBI says to be on the lookout for con artists.

Mainers Scammed

This can happen in Aroostook County, Maine if you’re not careful and know what to look for. The FBI has issued several advisories and warnings. Forty-two Mainers lost $489,000 in 2021. That’s almost half a million dollars.

First Type of Scam

A couple of the situations to be concerned about is when a scammer goes after someone who is trying to sell a piece of property, according to WGME.

How the first scam works is a deposit is sent on the advertised sale. The scammer then backs out and asks for a refund. The check is counterfeit and the person selling the real estate is the victim.

Second Scam

The FBI also warns about the second type of scam that alters a real estate listing. The scammer tells the interested party to pay a deposit to secure the listing as the owner is out of town. Once the victim sends the money, the listing is not available anymore.

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Losses in the Millions

The amount of money scammed using these scenarios is in the hundreds of millions of dollars. Losses added up to over $350 million across the United States in 2021. The difference is 64% from 2020, said the FBI.

FBI Tips to Avoid Scams

The FBI offers some really good advice with these tips.

Don’t send money if you haven’t seen the property and don’t know the person selling it.
Public records are available and should be checked to confirm the seller of any property.
Lastly, be suspicious if someone wants to rent a property right away and has not seen it.

LOOK: Counties With the Lowest Home Prices in Maine

The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency's House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth-quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.

Keep reading to discover which county in Maine has the lowest home prices.

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Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.