High-Pressure Tactics – If someone insists you must act immediately or discourages you from seeking legal or professional advice, be cautious.
Too-Good-To-Be-True Pricing – If a home is priced far below market value, it could be a bait-and-switch or fraud.
No Paper Trail – Sellers or agents who refuse to provide official documents or insist on cash-only transactions are a big red flag.
Title or Ownership Issues – Ensure the seller actually owns the property and that there are no undisclosed liens or claims. Check a land title in Alberta.
Selling Scams
Fake Buyers & Overpayments – Scammers may send a fraudulent cashier’s check for more than the asking price, then request a refund before the check bounces.
Unlicensed or Fake Agents – Always verify that your real estate agent is licensed with RECA before signing agreements.
Requests for Upfront Fees – Legitimate buyers and their representatives do not require upfront payments to “secure” a deal.
Strange Payment Methods – If a buyer insists on unusual payment methods, such as cryptocurrency or wire transfers to overseas accounts, be cautious.
Rental Scams
No In-Person Viewing – If a landlord refuses to let you see the property in person before paying a deposit, it could be a fake listing.
Demands for Cash or Wire Transfers – Scammers often request security deposits or rent upfront using non-traceable payment methods.
Fake Listings – Be wary of rental ads with stolen photos from real listings or vague property details.
No Lease Agreement – If the landlord refuses to provide a written lease, you may not have legal protection.
How to Protect Yourself
Verify Licenses – Check if your real estate agent, property manager, or mortgage broker is properly licensed by using RECA ProCheck.
Do Your Research – Compare market prices, research sellers/buyers, and never rush into a deal.
Use Secure Payment Methods – Avoid cash payments, wire transfers, or prepaid cards.
Read Contracts Carefully – Get legal advice before signing agreements.
Trust Your Instincts – If something feels off, walk away and report suspicious activity to RECA and the proper authorities (or should we say the police?)
