Birmingham Real Estate: You've Got Options: January 2013

FRAUD IN REAL ESTATE? IT IS HAPPENING!

Some people will do anything for money despite the consequences.  When I hear about fraudulent activities like this, I just have to ask, what is it that you need so much money for?  What is it that you want that you so badly that you are willing to toss everything out of the window (your integrity, your family, your reputation).  What?

FRAUD IN REAL ESTATE?  IT IS HAPPENING!

Jury

Real estate fraud is not just coming from consumer scams, sadly there are some real estate professionals who are engaging in fraudulent activities!  This is never a good thing and looks bad for the entire real estate community.  The good news is that some of those who are engaging in these activities are getting caught and convicted.

Here in The Woodlands, a well-known commercial real estate company was recently convicted by a Harris County jury of real estate fraud.  It has rocked the real estate community here as well as raising a lot of issues from our clients.  The phone calls have been pouring in with a lot of confusion and concern.

Basically the fraudulent case had to do with the Broker, another agent in the firm and the Title Company being involved themselves in a land purchase that they already had in contract with another buyer.  This buyer was edged out (not sure how that happened?) and the land was then sold to an LLC that the agents owned. 

According to details from the trial, the real estate agents shared confidential information from the first buyer to outside individuals in order to push through their own transaction.  Ouch!  This is NOT how most real estate professionals behave!  We are held to the highest of standards regarding fiduciary duty with our clients!

Most real estate agents here in The Woodlands operate under the highest of professional standards.  However, before working with any real estate professional or company, do your homework!  Get some personal references and know who is representing you!

Fraud can occur anywhere so doing your due diligence in checking references and company history is vital! 

 

 

  RE/MAX   Chevaux Group    

"Have you fully lived today?"

   Paula L. McDonald ~ REALTOR®

       Broker Associate - RE/MAX The Woodlands & Spring

       26113 Oak Ridge Drive Suite D ~ The Woodlands, Texas  77380

 936-203-0279 Direct

Selling The Woodlands real estate and surrounding areas!

Paula@ChevauxGroup.com

 

Copyright 2013 Paula McDonald

 

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Keller Williams Realty Metro North
Gardendale, AL 35071
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Comment balloon 5 commentsCharita Cadenhead • January 28 2013 07:13AM
FRAUD IN REAL ESTATE? IT IS HAPPENING!
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