Caution to fraudsters
October 20th, 2009 Posted in Informationfotosearch.com
In their desire to meet or surpass their sales quota, real estate agents help their unqualified clients to qualify for housing loans by manufacturing fake documents such as employment history and credit record.
Fraudsters run the risk of facing rigid punishments. In the above scenario, the buyer, seller and agent can be held equally guilty for collaborating in the execution of real estate fraud. Though the seller may seek remedy by invoking good faith, still his allegation is subject to burden of proof.
Sellers must therefore be cautious enough by making sure the agent and the buyer are not in any way trying to defraud the sale. He can do this by ascertaining the authenticity of documents and other pertinent requirements involved in the said real estate transaction.
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