Chapter 11
Recognizing Real Estate Fraud
In This Chapter
Spotting and preventing scams that cost people their homes
Identifying repair fraud schemes
Focusing on commercial leases
Eyeing fraud committed against banks
When most people talk about real estate, the three words they focus on are “location, location, location.” In this chapter, we encourage you to focus on “prevention, prevention, prevention” — of real estate fraud, that is.
For our purposes, real estate encompasses all transactions related to buildings, land, rental units, and loans for these types of properties. Many creative frauds are perpetrated in this area of business against individuals, businesses, and banks. Fraudsters can fairly easily victimize individuals who are unsophisticated and don’t seek help or advice from accountants or lawyers. You can’t change that reality, but you can encourage your clients to consult you before making any major real estate decisions — and to develop a healthy dose of skepticism whenever someone is pitching a deal that’s just a bit too good to be true.
In this chapter, we show you ...
