According to industry experts fraud is on the rise and they warn that agents and brokers need to be aware of the latest scams.
One of the more popular schemes is when the real estate agent intentionally tries to obtain the lowest possible sell price from the lender to a “prearranged” buyer and then “flips” the house as quickly as possible, selling it for more money and profiting from the difference. This is referred to as the “flopping” scheme but there are many others used by unscrupulous persons looking to make a quick buck.
The bottom line is that many times a short sale is the perfect solution for a distressed Miami homeowner but they need the guidance of an experienced professional with a solid background in short sales; someone that has their best interests at heart. Finding this person is not as difficult as it may seem and common sense plays a big role when making such an important decision.
Take the time to meet your new agent in person and ask direct and well thought out questions to be sure that you’re both on the same page. Perhaps the most important question to ask is how long they have been involved in short sales locally in Miami as well as elsewhere. Experience counts and a truly professional real estate agent with the proper credentials will do everything possible to assist you in your time of need.