Investing in real estate is a double-edged sword. The venture can be rewarding, but you should always be careful as thereâs a myriad of things that can turn the odds against you. Not everyone has the opportunity to take a shortcut from an individual that has been there first hand. In this read, however, we are going to give you three tips that will ensure you are kept safe from the dark side of Midtown Atlanta GA real estate scams.
Have a Lawyer
Involving closing agents in all your dealings is the smartest move you can make as a real estate investor. However, before you can sign any deeds or part with your hard earned money, you should always have a lawyer present to oversee everything including the legal documents. Not reading the fine print or missing some information can cost you a lot down the line.
Purchasing from a Stranger
Unfortunately, itâs not uncommon for squatters and blatant scammers to try and make money from vacant houses in Atlanta that they donât even own. It may seem stupid, but for a big investment like this, asking for an I.D that matches the deeds is one of the smarter moves that you could make. Keep in mind that real estate investments often involve large amounts of money and some individuals will go to great lengths to get it.
The Deal is binding
With every sale or purchase in real estate comes a contract. This document details both parties, the rights of the seller and buyer as well as the agreed terms and conditions. If any part of this agreement defaults on the contract, you can recover the deposit or money, paid by law. The laws differ from state to state and so, it is usually best to hire a lawyer and a real estate agent who operate in Atlanta.