Beware of Short Sale Fraud

By
Real Estate Broker/Owner with NoVa Brokers LLC 0225 094634 VA/ 643686 MD

I was just speaking to a neighboring real estate agent who told me that some people she met, who are not well informed of what happens in a short sale, gave $3000 to a Real Estate Company who said they will not lose their home if they listed with them to do a short sale.  The owners have not seen any results or have heard from them since.  It is cheaper to seek Professional Advice from an attorney first for a quick consultation before doing something this drastic and giving away $3000 for nothing in return.

Look out for this type of fraud.  It is growing stronger.  I brought it up before, but want everyone to be aware of this in case people you know are considering hiring someone to perform their short sale.

 

 

 

 

 

Posted by

FOR ALL YOUR REAL ESTATE NEEDS

 

STELLA BARBOUR

NoVa Brokers LLC

1483 Chain Bridge Road Suite 103

McLean, Virginia 22101

571-814-3002 OFFICE

703-999-6104 CELL

571-281-2866 FAX

www.novabrokersllc.com

stellabarbour@yahoo.com

Licensed in Virginia & Maryland

 http://www.novabrokersllc.com/

 

 

 

Comments (9)

Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR
Isn't this as evil as evil can get?  Thank you for sharing!
Jan 23, 2008 10:27 AM
Gregory Maley
Sold Buy the Sea Realty & R.E.N.T. - Wilmington, NC
REALTOR, GRI, CBR, SHS, e-PRO, ABR
I always hope there's a special place in Hell for people who pray on the desperate. 
Jan 23, 2008 10:29 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Jim- I know it is evil.  thanks for commenting.

Gregory - So do I.  Thanks for commenting. 

Jan 23, 2008 10:31 AM
Darleen McCullen
Raleigh, NC
Broker - Raleigh, NC Real Estate
Stella ~ Did this agent tell these folks that they should report this to the real estate commission in your state or perhaps the attorney general's office? Somebody? Anybody? This is crazy!
Jan 23, 2008 10:31 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Darleen - Yes, she is trying to locate all the parties involved and report it.  She is with another Real Estate Company and she will see where things are and try to help these people.  These people don't even speak English very well. They were taken advantage of in a bad way.
Jan 23, 2008 10:34 AM
Michelle Way
AVALAR Pro Realty - Jackson, MS
ABR, GRI, WCR

Sometime these people call these We Buy Home People and its not an agent...... The people think that they are but their not. It is sad but happening more and more. We as agents have to educated the buyers after the transaction closes. Once every six months I mail all my clients a newsletter. It has helpful hints about the market, interest rates, yards and etc.... They love it and it keeps me in contact with them.

Jan 23, 2008 10:54 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Michelle- The newsletter is a great idea.  Thanks for commenting
Jan 23, 2008 11:45 AM
Steve Shatsky
Dallas, TX
Sadly, I am hearing more and more about this sort of thing... and even more sadly for the general public, it seems that many are VERY convincing.
Jan 24, 2008 03:26 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Steve - Thanks for commenting.  I hear they are very convincing also.
Jan 26, 2008 11:58 PM