Real Estate Scams on the Rise: How to Protect Yourself

Agent Catarina Monteiro warns of rising real estate scams targeting buyers with tempting low prices. Stay vigilant and protect your investment.

In a recent statement, Agent Catarina Monteiro has issued a warning to potential property buyers, emphasizing the importance of being cautious when dealing with properties that are priced significantly below market value. According to Monteiro, while there may be seemingly valid reasons for such low prices, such as sudden departures or life events, buyers should always exercise skepticism and conduct thorough research before making any commitments.

With the advancement of technology, real estate scams have become increasingly sophisticated, making it crucial for buyers to be vigilant and proactive in their search for properties. Monteiro advises individuals to utilize the internet to gather information about both the property and the advertiser, as previous scams can often be uncovered through online research.

During the negotiation process, Monteiro suggests that buyers request additional information from the seller, such as utility bills, to verify the authenticity of the property and the seller's identity. In the event of suspicion or being a victim of a scam, Monteiro urges individuals to report the incident to the authorities and to keep a record of all communication with the seller, as this information can be vital for police investigations.

It is essential for property buyers to exercise caution and due diligence when navigating the real estate market, especially in the face of increasing scams and fraudulent activities. By staying informed, conducting thorough research, and being proactive in verifying information, buyers can protect themselves from falling victim to fraudulent schemes.