Unfortunately, fraud has been a topic in the Park City real estate market lately. Multiple owners, who aren’t selling their property, have seen their properties listed on Zillow as “For Sale by Owner”. Scammers are trying to target unrepresented buyers. The use of a licensed Park City Realtor and Utah title companies can prevent most fraudulent transactions due to proper document and background checks. So far, mainly land has been targeted in Summit County. Buyers can drive by and walk the property without anyone having to provide access to a home. Also, most fraudulent listings are listed well below market value.
We recommend property owners to sign up for Fraud Guard, which is a tool available through the Summit County Recorder’s Office. The system will notify you about any changes to your title. It can give people an early warning if fraud is being committed in their name.
Also, remember that there is no cost to the Buyer to use a real estate agent. Buyers agents are compensated through the seller upon the sale of a property. Rarely does a Buyer have any monetary benefits when buying a home unrepresented or buying directly through the listing agent.
Protect yourself by choosing a real estate agent you trust. Little mistakes can be costly.
Call The Park City Investor Team – Your Local Real Estate Experts – at 435.640.966.
We are here to successfully guide you through your real estate transaction.
