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ALERT: Short Sale Fraud Alert Nationwide
I attended a webinar this week about Short Sale Fraud. As a real estate agent, I thought I knew all I needed to know on this subject but I was amazed. Here are some of the highlights.

 
Homeowners find themselves in a bad situation as their house is under-water and they need to sell. These homeowners need help from Real Estate agents but not fraudsters. If you as a Realtor are even involved in a fraud transaction, you are putting your license at risk.
 
Short Sale Flipping- As the listing agent, not disclosing to the bank that there is a better offer and then turning around in 2-3 hours to 2-3 days and simultaneously closing with the higher offer.
Reverse Staging- Making the property look worse by flooding a room or house, staining or cutting carpeting, putting holes in drywall, killing off landscape, breaking windows, stripping fixtures and appliances.
Who is Involved- All or part of the parties of a transaction can be involved:
Brokers Appraisers Under-Writers Accountants Investors Real Estate Agents Title Offices Escrow Officers  
Top States Involved in Short Sale Flipping-
Nevada-Las Vegas California- Los Angeles Florida New York New Jersey Illinois Texas  

... more

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