Milwaukee Real Estate Scams
Don’t fall for a “cash for houses” scam in Milwaukee.
Locating a trustworthy cash home buyer is a major obstacle when selling a house in Milwaukee for cash. The high demand for cash home buyers, coupled with the complicated and sometimes lengthy process of selling your house, can put home sellers at risk of being swindled. To best protect yourself from housing scams in Milwaukee, you need to know some of the most common scams and what you can do to mitigate risk.
Real estate scams in Milwaukee
According to the Better Business Bureau, 89.8% of all scams in 2022 were done online or over the phone. 91.6% of these scams resulted in monetary loss for the victims. With rising rates of real estate fraud conducted over the phone and resulting in monetary loss, it is essential to stay informed on some of the most common scams in your area.
Cryptocurrency scams
In cryptocurrency scams, fraudsters will try to get home sellers to use cryptocurrency (e.g., Bitcoin, Ethereum) to pay for real estate transactions. They will use a fake website or online platform that appears legitimate and offer a quick sale in return for a large upfront payment.
To protect yourself from property fraud in Milwaukee involving cryptocurrency, make sure you only work with reputable companies by researching the company and reading customer reviews.
Wire fraud
Wire fraud is one of the most common types of real estate fraud in Milwaukee. This typically happens when someone poses as a buyer or an agent and instructs the other party to wire money to an account associated with the fake identity. The criminals that perform these scams will use the seller’s personal information to appear legitimate. Once the money is wired, it is impossible to trace.
As a home seller, you should never send payments without first checking with your agent or real estate company over the phone or in person to validate the transaction.
Foreclosure relief scams
These types of scams target one of the most vulnerable segments of homeowners—those who are facing foreclosure. The scammers will offer services, like modifying mortgage loan terms, in exchange for heavy upfront fees. Once these payments are made, these services are never rendered. The money is gone, and the house might go next.
Rates of foreclosure relief scams in Milwaukee are on the rise. In order to avoid falling for a foreclosure relief scam, do not pay upfront fees for services. Avoid companies that offer fast results without any guarantees, and never sign any paperwork you don’t fully understand.
How to spot a housing scam
With real estate scams in Milwaukee becoming more and more common, sellers need to know what they can do to protect themselves during the selling process.
Know your rights.
The first step to protecting yourself when it comes to real estate fraud in Milwaukee is to understand your rights. Wisconsin state law provides detailed information about the responsibilities of landlords, tenants, buyers, and sellers in a property deal. Familiarize yourself with these legal requirements so you know what is expected from everyone involved in the transaction.
Be wary of unscrupulous deals.
Unsolicited offers and deals that seem too good to be true probably are. Take time researching any potential buyer or company, and don’t sign any contracts or agreements until you have thoroughly read through them and understood all their implications.
Be vigilant with online payments.
When making online payments, always use a secure payment gateway and never give out your bank information directly. In this digital age, you need to be extra careful when making online payments for real estate transactions—it only takes a few extra minutes but could save you a lot of headaches down the line.
Always work with a reputable buyer you can trust.
Don’t fall for any "we buy houses" scams in Milwaukee. Signs on the side of the road that say “We buy houses” aren’t from us.
If you’re looking for a reliable cash home buyer to avoid falling victim to real estate scams, We Buy Ugly Houses® is here to help. Unlike many cash-for-houses companies, we have an in-person process that prioritizes face-to-face communication and transparency throughout the entire transaction.
We do not use high-pressure tactics to force you into a sale; instead, we offer a guided selling process that puts you, the seller, in control. With a customer-forward approach to customer service, We Buy Ugly Houses strives to make the selling process as stress-free and straightforward as possible.
Selling your house in Milwaukee doesn’t need to feel like walking through a minefield. Why not work with America’s #1 trusted cash home buyer? Not convinced? Read our reviews online.
Contact us at 866-200-6475 or fill out our contact form to get all your questions answered about how you can avoid scams and learn more about our process.
