The Division of Real Estate recently issued this consumer advisory – “Take 5 to get wise and learn how to protect your real estate nest egg.”
Colorado residents owning a home for 20 years or more are being targeted for the equity in their property. An offer may include a cash transaction, a quick sale, no inspection, and the freedom to leave your problems behind.
In Colorado’s hot real estate market, a lot of homeowners might not know the market value of their property, which is what unscrupulous investors want. They are trying to drive down your property value with misleading and confusing information. Their goal is to make a profit by turning around and selling your property at true market value.
This can happen to anyone because people who perpetrate fraud are good at what they do – separating you from your money.
Protect your nest egg when considering an offer on your property:
- Go to www.dora.colorado.gov/dre to research licensed professionals.
- Go to your local county government website and look up property values for you and your neighbors.
Other tips to protect your nest egg when considering an offer include:
- Be wary if you weren’t thinking about selling.
- Always keep someone you trust in the loop.
- Do research on real estate brokers working in your neighborhood.
- Always seek legal advice.
- Know the value of your property and understand the motivations of why an investor wants to buy your property.
By taking a few steps you can protect your home, your finances and your future. If you have questions, please contact us.