HomeVestors Offers Top Eight Tips For Avoiding Real Estate Fraud

DALLAS--(BUSINESS WIRE)--With residential real estate in turmoil across the country, consumers need to know how to steer clear of a scam posing as the answer to their problems.

To help shed some light, HomeVestors of America, the nation's number one homebuyer, is offering homeowners a free report on the "Top Eight Tips to Avoid Real Estate Rip-Offs."

"We want to educate America about real estate fraud," said John Hayes, president and CEO of HomeVestors of America. "It's a nationwide epidemic, and many aren't aware of its dangers."

From lease-options to buying on assumption and straw buyers to inflated appraisals, HomeVestors reveals eight tips to help consumers avoid being a victim of real estate fraud when selling their house.

"In our 12-year-plus history, HomeVestors has bought and sold more than 30,000 homes, and never have we seen such a sharp rise in inquiries from people in ugly real estate situations," said Hayes. "This report will help homeowners know their options and be aware of unscrupulous real estate practices."

The report highlights tips such as:

  • Don't sign a lease-option agreement where the monthly lease payment is equal to or higher than your current monthly mortgage payment.
  • Do not agree to contract to sell your home for an amount above your asking price if you are asked to refund the difference after the closing, or if you are told that the extra money will be used for repairs that have not yet been completed.
  • Beware of selling on assumption. If someone assumes your loan and the house goes into foreclosure, creditors may still come looking for you.

For a full copy of the report "Seller Beware: Top Eight Tips to Avoid Real Estate Rip-Offs," visit www.homevestors.com/tipsforsellers.

About HomeVestors of America, Inc.

Founded in 1989 and franchising since 1996, Dallas-based HomeVestors® of America, Inc., has more than 250 franchises throughout the United States. The first franchise company of its kind, HomeVestors® trains and supports franchisees who specialize in buying homes in need of repair. Most commonly known as the "We Buy Ugly Houses"® franchise, HomeVestors® strives to make a positive impact in each community. More information is available at www.homevestors.com


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