Avoiding Short Sale Scams - by Short Sale San Diego

May 12, 2011 - PRLog -- One of the more common short sale scams that are currently being utilized involves predatory sale negotiators. This includes individuals asking for exorbitant fees upfront to sell the property or asking that fees be paid outside of escrow. This is never required in a short sale case and if you are told otherwise, then you are stepping into a scam.  If you are dealing with a potential agent that is making such demands, you need to not just walk away but also report this activity to the local authorities.

Another scam making the rounds is the good old Bait & Switch. When this happens with a short sale scenario, the seller actually deceives the homeowner into signing over the property to them. This is done via getting the homeowner to sign a series of very intricate and protracted legal documents that are written in complex legalese. This type of scam is most often used with elderly homeowners or those who are not fluent in English. Remember to never sign a document without being perfectly clear regarding what you are signing and why. Further, you should never sign anything where there are blank sections wherein additional and deceptive details can be written in at a later time. Similarly, you should never feel pressured to sign a document and any verbal agreements that you have established should also be in writing.

The best way to avoid a short sale scam is to work with a reputable and established short sale specialist. This real estate agent should be willing to present not just their credentials, but also will provide recent references for your review. Also, the short sale agent that you use should make themselves available to you, have a history of successful short sales and disclose all pieces of the short sale process as it unfolds. A competent short sale specialist will operate with honesty, integrity, professionalism and compassion.

Visit www.shortsalesandiego.com for more information about short sales. You may also reach us toll free at 1-800-880-5156

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Short Sale San Diego is a local real estate company that specializes in helping distressed homeowners.