Online Scams - Buyer Beware

We have all heard the saying - "if it's too good to be true - it usually is!"  One couple from Emerald Park found this out the hard way - as reported in the Regina Leader Post.  Here is what happened:

They had listed in their house for sale on various Internet sites - trying to sell it themselves without the help of a licensed realtor.  They received an offer from someone who claimed to be a British Doctor.  They accepted the offer and then decided that it sounded suspicious, so they did some investigating and found out it was a scam.  Fortunately for this Saskatchewan couple, they found out it was not legit before they lost money.

Scams like this one are out there and these con artists like to find people who are a little excited and perhaps a little naive.  They offer to purchase your house and send you a bogus cheque for more than they agreed to pay.  Then they contact the seller saying that a mistake was made on the cheque and asks for reimbursement of the difference.  When the seller sends them a cheque, they cancel their first cheque and keep yours - thus, making money!

Real estate transactions are usually one of the biggest investments that you will make in your lifetime.  We are real estate salespeople are trained to always identify people by completing a FINTRAC report.  The Federal Government has ruled that we must complete this form on every transaction.  This means that both the seller and buyers must be identified.  If we are dealing with people in another location, we must have someone go and identify them before any offer can be completed.  This is one way that we protect everyone who is involved!


Karen Bast

Karen Bast

CENTURY 21 Dome Realty Inc.
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