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Watch out for scams when making real estate transactions

Scams, schemes and swindles are everywhere in the 21st century. Nefarious individuals and unethical organizations may lurk in the shadows of nearly all actions involving a transfer of funds. Real estate transactions may be particularly vulnerable to fraudulent activities because of the high dollar amounts involved with such transactions.

Our lawyers are not just legal professionals. We are also members of the Ramsey community with an interest in protecting our neighbors from mortgage closing and other real estate scams.

We hope the following tips will aid you in making secure real estate transactions:

Get legal guidance: A valuable advantage of working with a lawyer is having someone on your side who is familiar with fraudulent business practices. A real estate attorney knows how real estate transactions proceed and can help you spot potential fraud before you lose a single dime.

Avoid relying on email: Email scams are prolific across the nation, and the people who perpetrate these scams are skilled at fooling people. Never send sensitive information in an email and never click on any link contained in an email. Instead, reach out to the involved individuals personally or ask your lawyer to make contact with them.

Be cautious on the phone: Phone scams can be as dangerous as email scams. Unfortunately, telephone communication is tough to avoid when making real estate transactions. If you become suspicious that the person calling is not who they claim to be, hang up and initiate the phone call yourself.

We hope these tips help increase your awareness about the dangers of mortgage and other real estate scams in Minnesota. Our website and blog contain additional information. Please continue reading to learn more.

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