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How To Avoid Real Estate Scams Illinois

If you are in the market to buy or sell a house, refinance your mortgage, or if you are considering investing in real estate, it is important to be aware of real estate scams. In the following article, you'll learn more about real estate scams.

Local Companies

James W. Klopfenstein & Associates, Inc.
(309) 673-9111
320 E. Jackson
Peoria, IL

Lexington Realty Trust
(312) 386-8111
101 East Erie Street, Suite 950
Chicago, IL

Copley Advisors
312 324 3600
474 N Lake Shore Drive, Suite 3707
Chicago, IL

Catylist, Inc
877-595-5478
444 N. Wabash
Chicago, IL

The Real Estate Group, Inc.
217/494-0800
3701 W Wabash
springfield, IL

Tri-State Realty, Inc.
847-360-1375
P.O. Box 502
Gurnee,, IL

NAI True
217-787-2800
3500 Mitchell Dr
Springfield, IL

Chase Property Management, Inc
(309) 999-5500
219 Fulton St
Peoria, IL

Cohen Development Company
(309) 671-1000
406 S.W. Washington
Peoria, IL

Cullinan Properties, LTD
(309) 999-1700
211 Fulton St., Suite 700
Peoria, IL

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If you are in the market to buy or sell a house, refinance your mortgage, or if you are considering investing in the real estate world, beware-there are scams out there that the smartest of people fall for. Here some of the classic real estate scams and tips on how to avoid them.

Who is the ideal Con Artist? The most savvy of con artists are those who have already attained some level of trust in your life. People you deal with daily, even family members, prove the most successful of con artists. When we "go along with others" our brains' defense mechanisms soften, and our skepticism is reduced. Con artists use this neurological trick to get you. It is ok to place trust your friends, family, and co-workers, but be skeptical about any business pitches they may give you. Always seek the advice of two or more financial advisors or confidants before proceeding.
Overseas Investment and Return. Con artists who utilize this real estate scam play on a victim's deepest desire-getting something for little-an easy investment. These schemes are usually Ponzi Schemes, meaning con artists collect money from many victims, and disperse smaller amounts out to these same people from the same pool of money and claim it is "profit". In this model, investors are told to send investment checks, and they are giving small checks in return, supposedly "proving" the system works. In realty they are receiving a small chunk of change from another "investor" who has also fallen for this plot. People tend to fall for the overseas angle because it is exotic-sounding and they think they are, in some way, taking advantage of a new discovery or resource others are not aware of.
- Defense: Ask yourself the simple question, "Is this too good to be true?" Examine the business model thoroughly to determine whether the model could actually work. If you have never invested in real estate before, it is a good idea to start local, not abroad. ...

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Author: Grace Bloodwell

Featured Local Company

James W. Klopfenstein & Associates, Inc.

3096739111
320 E. Jackson
Peoria, IL

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Advertising	Family	Home Services	Real Estate Resources
Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History