EXCALIBUR PRIVATE INVESTIGATION
  • Investigation
    • Cheating Spouse/Infidelity
    • Surveillance
    • Financial Fraud
    • Background/Due Diligence
    • Domestic Violence
    • Child Custody
    • Social Media/Online Dating
    • Missing Person
    • Insurance
  • Attorney Services
  • Blog
  • Media
  • About
  • Contact Us

PART VI: REAL ESTATE SCAMS

3/11/2022

0 Comments

 
Real estate scams investigated by Colorado Springs private investigator
In our newest post on scams, some sobering statistics from the FBI in regards to real estate fraud:

Total financial loss in 2020: $213,196,082

Total United States victims in 2020: 13,638

Yes, you're reading those numbers right. Over $213 million lost to real estate scams in 2020 alone with over 13,500 victims. What type of real estate scams are the most prevalent? 

Loan flipping: it's a predatory practice that happens when a lender
convinces a homeowner to repeatedly refinance their mortgage, accruing high
fees and points with each refinance.

Escrow wire fraud:  where scammers, many times in other countries, infiltrate a legitimate real estate transaction and cause monies to be wired to accounts they control as if they are the closing company when, in fact, they aren't. Victims have reported that everything looks real, has the right names, numbers, addresses, etc, yet the account number for the wire transfer has been changed. Most victims never receive the lost funds back so this is one everyone should be aware of.

Escrow wire fraud investigated by private investigators in Colorado Springs, Colorado

SerRental scams: in this scam the conman places a rental listing on various real estate rental websites and takes a deposit for either a vacation or long-term rental for housing. There's been many cases where the renter shows up thinking they have this nice place to stay, only to learn that the occupants/owners have no idea what they are talking about. 

Moving scams: moving scams are also classified as real estate scams and they take many forms. We've seen so-called moving companies hold a truckload of household goods hostage for additional payments over and above what their "estimate" was. Make sure you use a well-known, stable company with a track record whenever moving from point A to B, even if it may cost you a little more than the ad on Craiglist you saw.

Homebuyers and real estate agents should be especially diligent. Keep
personal information secure, use licensed lenders and realtors for all
transactions, never pay upfront fees for home services, and educate yourself
on how to spot a scam. Be aware of anyone pressuring you to make quick
decisions, and be wary of improper documentation and requests for wire
transfers of large sums of money.

Never resist the temptation to not follow up when you have a funny feeling about something or when any large sums of money are involved. Check and double-check and get on the phone to verify everything or, better yet, go in person to make sure you don't become the victim of one of these real estate scams.

Lee Walters
EXCALIBUR Private Investigation
​719.208.4088
​Serving all of Colorado and beyond
0 Comments



Leave a Reply.

    Colorado Private Investigator Blog

    Archives

    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021

    Categories

    All
    Background Investigation
    Bank Imposter Scams
    Con Men
    Domestic Abuse
    Employee Theft
    Equipment Review
    Identity Theft
    Insurance Fraud -Auto
    IRS Scams
    Loan Fraud
    Missing Persons
    Online Dating Scams
    Poshmark Scams
    Qui Tam
    Real Estate Scams
    Scams
    Security Cameras
    Security Tips
    Senior Citizens
    Smartphones
    Surveillance
    Technology
    Tech Support Scams

    Sites we like

    Crime Curious

    RSS Feed

Private Investigator in Colorado Springs
Veteran Owned Private Investigator in Colorado Springs
Picture
Private Investigator in the United States
Picture
Colorado Springs Private Investigator
Colorado Private Investigation
Colorado Springs, Colorado
Colorado # P12.0000754
719.208.4088
rlwalters@excaliburlegalsupport.com

Copyright © 2022 – All Rights Reserved - EXCALIBUR  Private Investigation, LLC
  • Investigation
    • Cheating Spouse/Infidelity
    • Surveillance
    • Financial Fraud
    • Background/Due Diligence
    • Domestic Violence
    • Child Custody
    • Social Media/Online Dating
    • Missing Person
    • Insurance
  • Attorney Services
  • Blog
  • Media
  • About
  • Contact Us