Avoiding Fraud
Consumers’ experience and security are important for homeTRADER. Buyers and sellers should always be vigilant in conducting their own research whenever they choose to purchase, sell or rent a home.
homeTRADER connects buyers and sellers in search of a property. homeTRADER does not guarantee the security of any transactions, nor will it endorse any sales or purchases. It does not provide any form of financing and type of money payment contracts with its buyers or sellers.
E-mails claiming to be a part of the homeTRADER association should be ignored as well as reported to us. Even if the e-mail address contains the homeTRADER name and logo, this does not mean it is from one of our representatives.
Some Common Frauds
It is important to remember that when buying, selling or renting a home, one should be wary of:
- Buyer/Seller/Renter refuses to talk via telephone
- Low prices make the deal seem too good to be true
- Out-of-country sellers/buyers
- Elaborate and dramatized stories about the seller or buyer
- Personal information being asked
- Financial arrangements / payments
- Deposit asked in advance of looking at the property and meeting the landlord or seller
- homeTRADER name and logo usage as a form of reassurance
If you have any doubt about the legitimacy of an ad or a business, contact us by clicking here. We will investigate the ad and remove it if necessary.
Tips to Identify Common Frauds
Claims that only e-mail is available
- Many fraudulent sellers only want to be contacted by e-mail
- The buyer/seller says that a meeting is impossible, often explains extreme circumstances and elaborate stories as to why a meeting cannot be arranged
- Many fraudulent sellers will post a phone number that does not even work
High-value cashier's cheque from a distant buyer
- Distant buyer sends you an e-mail offering to buy or rent your property for a price exceeding its value
- A cashier's cheque is offered as a deposit on your home or rental property. Banks will often cash these fake cheques and they hold you responsible once the cheque fails to clear
- Scam often involves a third party (business associate owing buyer money, Western Union, Money Gram, etc.)
How to Report Suspicious Ads
At homeTRADER, we hope to make renting, buying or selling your home a pleasant experience. Should you ever come across a suspicious advertisement that does not comply with the rules and standards of homeTRADER, contact us by clicking here.
If you have been victimized, you may also choose to contact:
By bringing a fraudulent situation to our attention, homeTRADER can conduct the appropriate verifications and can act accordingly.
How to Buy a Home/Rental Property Safely
You've found the home of your dreams on our site, now how do you go about buying or renting it safely?
- Contact the customer/real estate agent directly by the phone number listed on our site. If it does not work, do not go through the process solely through e-mail. Most cases of fraud are e-mail based.
- Arrange a meeting with the seller so that you may see the listed home/rental property. If the seller refuses to allow you to inspect the property, stop the deal: it is probably a case of fraud.
- Have a qualified professional inspect the home. Make sure everything is in working order before committing to the final deal.
- Never share personal information (banking information, passwords, credit card numbers, etc.) and do not transfer money via wire funds (Western Union, Money Gram, etc.).
- Beware of a people asking for a deposit in advance of looking at the property and meeting the landlord or seller
- Ensure any deposits are made through a trusted third party (real estate brokerage firm, lawyer, etc.)
How to Sell a Home or Rent a Property Safely
- If you are not selling or renting a property through a real estate agent, make sure you consult certified or professional resources to help guide you through selling or renting your property privately.
- Now you have settled on a price and have designed and written an attractive ad for your property. Now, who do you choose to sell to?
- Be careful who you allow to view your property if you are selling privately. Collect as much information as possible when someone calls to arrange a time to see the home.
- Be honest with your buyer if your home has any issues, make sure to meet the potential buyer with someone and provide them with answers to any questions they may have. If a customer contacts you willing to buy or rent your property without having seen it or asking any questions, it is highly likely that he\she is a fraudulent buyer.
- Beware of deposit proposed in advance that may engage you in a suspicious transaction.
- Never share personal information (banking information, passwords, credit card numbers, etc.) and do not transfer money via wire funds (Western Union, Money Gram, etc.).
- Use trusted third parties to manage deposits and final payments (lawyer, etc.).