How to Avoid a Scam as an FSBO


Your home is the largest financial investment you have. Whether you’re buying or selling a
home, enlisting the help of a flat-fee Realtor in Minneapolis will help you make smart financial
choices and avoid legal complications. You may find that the scams are especially difficult to
identify as an FSBO seller.

Here are some common scams that should raise a red flag. Avoid them at all costs.

The Buyer Doesn’t Have to Look at the House
The buyer is living or traveling out of the country, and for some unidentified reason, he or she
wants to buy a property in your state, sight unseen, without appearing to have any familiarity
with the neighborhood or even the city in which they wish to purchase.

Unlike most other buyers you’ve worked with, this buyer doesn’t appear to want to know much
about the property, the community or anything else the average buyer inquires about.

The Buyer Divulges Too Much Financial Information
Your cash buyer is more than happy to share their financial details over email, including sending
financial statements or bank account records.

They will send a fake, but almost believable record of their banking statements or other
so-called proof of funds before you’ve requested it. And the buyer sends it despite the fact he or
she has never met you, had a conversation with you, or asked about your selling process.

Their Story Sounds Suspicious
In an array an email, the so-called buyer is originally from a country in Europe or Asia, and they
happen to be away from their home when contacting you. But don’t be fooled — they aren’t in
the U.S.

Sometimes they throw in needless details about jet lag, time zone changes, and some other
complications to make you believe having a phone conversation with them can’t be easily

The Buyer Refuses to Work With an Agent
The buyer does not trust an agent he or she has not spoken with who is not a personal referral.
They only trust their personal agent to lead them through the purchase of a home they’ve never
seen. They also recommend their own lawyers, and, at times, foreign banks. Although all of this
is possible, it’s harder to believe when coupled with the other facts.

The Buyer Wants to Pay Cash Right Now
Typically, buyers are not ready to part with their money in a home purchase until it’s necessary.
Yet this cash-buyer scam regularly involves a buyer who asks if they can send a cashier’s check
with a down payment or earnest money to a broker or law firm trust account before anyone has
asked the buyer to part with their money.

In a cash buyer scam, there is no masked man demanding money or a curbside getaway car
poised to make a quick escape. As a result, the scammed real estate professional doesn’t
always see that a robbery is imminent and preventable.

After seeing the scam run its course, it is easier for a real estate agent or broker to look back on
the storyline and recognize the warning signs. Hopefully, you’ll recognize the signs before it is
too late.

Protect Yourself: Hire a Flat-Fee Realtor
Home Avenue realty takes our FSBO clients’ best interests to heart. We provide services that
help you promote your home sale without being harmed by scammers. You can trust us to help
you get a fair price for your house from legitimate buyers who want to call it their home.
To find out more about our products and services, call us at 952-929-7355, or you can send a
message to .