When looking for a new place to live, whether it be a rental unit or house for sale, there are a few things we suggest you keep in mind in order to avoid falling prey to a Real Estate Scam;
If it looks too good to be true - it probably is.
- Does the price seem realistic for the number of bedrooms, location and amenities provided?
- Be wary of photos that are very low resolution or look slick and professional (for example, a model home or suite) if the property is being sold or rented privately.
Do your homework.
- Will you actually be able to view the place before you put down a deposit? Many foreign scammers will offer pictures but will be unavailable for viewings. They will claim to be overseas but in reality, they do not own the property in the listing. This is a scam.
It’s in the details.
- In rental ads, be wary of overly flowery descriptions and extensive lists of features that are not relevant to renters, only buyers. In an attempt to be as descriptive as possible, scammers often copy ads from other Real Estate sites.
- Lastly, be careful of ads that request information in your response such as Age, Occupation, Income, Gender and more sensitive information such as bank or SIN card numbers as these can often be attempts to store information.