Ohio Dept. of Commerce Warns Homeowners of Real Estate Scams and Fake Buyers!

Race Day Live  The Ohio real estate market is strong, but homeowners need to be careful when selling their property.

The Ohio Department of Commerce has warned that scammers are sending unsolicited messages to homeowners, offering to buy their homes.

While this might seem like a great opportunity, these offers could be part of a real estate scam.

Why Are Homeowners Receiving These Offers?

The rise in these unsolicited offers is linked to the national housing shortage, including in Ohio. With fewer homes available, buyers are aggressively looking for properties.

Unfortunately, scammers are taking advantage of this trend by reaching out to homeowners with fake offers, pretending to be real estate agents or investors.

How the Scam Works?

Scammers contact homeowners through calls, texts, emails, or even in-person visits, offering to buy their homes.

While some of these offers might be legitimate, others are not. The Ohio Department of Commerce’s Division of Real Estate and Professional Licensing (REPL) has received reports from homeowners who unknowingly sold their property for much less than its actual value or were tricked into unfair contracts.

“If you receive an unsolicited offer, whether via mail, call, text, or an in-person visit at your door, always take time to ask questions,”

REPL Superintendent Daphne Hawk said. “Many homeowners assume the person contacting them is a real estate agent, but in many cases, they are not.”

Scammers Using Official Forms to Appear Legitimate

Some scammers are even using official-looking documents to make their offers seem real. The Ohio REPL has warned that some homeowners have received disclosure forms created by the agency.

While the form itself is real, the offer may not be. Scammers use these forms to appear more trustworthy and trick homeowners into selling their property.

How to Protect Yourself from Real Estate Scams?

If you receive an unexpected offer to buy your home, follow these steps to stay safe:

1. Ask Questions: Always ask if the person contacting you is a licensed Ohio real estate agent. If they hesitate or avoid answering, it could be a scam.
2. Verify Their License: Use the Ohio Department of Commerce’s eLicense Online tool to check if the buyer or agent is properly registered.
3. Don’t Rush Into a Deal: Scammers often pressure homeowners to make quick decisions. Take your time to review any offers carefully.
4. Consult a Real Estate Professional: Before signing any documents, speak with a trusted local real estate expert or attorney to ensure the offer is fair.
5. Be Cautious of Unusual Payment Methods: If a buyer requests payment through unusual methods or asks for upfront fees, it’s a red flag.

What to Do If You Suspect a Scam?

If you believe you’ve been contacted by a scammer or have already fallen victim to a real estate fraud, take action immediately:

• Report the Scam: Contact your local law enforcement agency and provide details of the suspicious offer.
• Use Online Resources: USAGov offers a reporting tool for scams and fraudulent activity.
• Warn Others: Share your experience with friends and neighbors to help them avoid similar scams.

Final Thoughts

Selling a home is a big financial decision, and scammers are looking for ways to take advantage of homeowners.

By staying informed, asking questions, and verifying credentials, you can protect yourself from real estate fraud. Always do your research before accepting any unsolicited offers, and when in doubt, seek professional advice.

The Ohio Department of Commerce urges all homeowners to stay cautious and report any suspicious activity to prevent falling victim to these scams.

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