Selling Privately? Do you know the 67 ways you can be defrauded on your home?

The reality is that you don't want the WRONG people to know you are selling your home.

Due to the changes in the industry in 2010, defining the pros and cons of handling a six figure transaction has become more important than ever.

As a real estate consultant, if you cannot prove your value in THIS have no place in it.

As a seller, you have ALWAYS had the option of selling on your own.

If you have ever been on Craigslist, you will see in BOLD that fraudulent buyers/sellers/renters/landlords do exist.

Even IF you do this day in/day out for a decade (as I have), not studying up on the signs of a fraud is easily equal to fraud itself.

The Real Estate Council of Alberta recently published a list Red flags associated with the true identity of the parties to the trade, property value & unusual transactions. Simply reading the list is NOT even close to being able to protect yourself. Having handled thousands of clients over the years, my ability to read prospects has allowed me the record of 1 default in over 200+ leases. Not ONE default on a purchase in all that time.

A few examples include:

  • client will not provide photo ID, when requested
  • transaction involves a relative of the associate
  • existence of other offers, subject to financing, that collapsed
  • parties "undisclosed," "care of listing brokerage," or "nominee"
  • land title records do not match with seller information
  • buyer is a numbered company seeking a high ratio mortgage
  • chattels are used as deposit or as partial payment
  • renovation value included in the sale price
  • property has illegal/nonconforming suites

For the FULL list of these and how each one can possibly change your life for the me for a pre-selling interview (something you should do regardless of selling privately or otherwise).

Private buyers can be good but all it takes is one bad apple.

Paul Indrigo

Paul Indrigo

Sales Representative
CENTURY 21 Regal Realty Inc., Brokerage*
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