Category Archives: Real Estate

Buying and selling of property in New Jersey can sometimes require the assistance of a lawyer

What are Common Rental Scam Red Flags?

Scammers are constantly on the lookout for targets who are looking to rent residential properties or who are in the process of moving. In New Jersey and elsewhere, scammers could walk away with thousands of dollars of your hard-earned money if you are not careful. Fortunately, many rental scams have common factors that can make them easy to identify. Rental scam red flags may include: The scammer says they cannot meet with you. Scammers may claim they are out of the country or cannot meet for some other reason. Never rent a property without meeting the landlord first. The property listing is vague. Be on the lookout for real estate ads with vague descriptions of the property. This could signal that the person has not seen or been to the apartment or house. You are asked to pay without having met someone or seeing the property. The scammer may demand…
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Five Common Mistakes You Might Make While Purchasing a Home

Purchasing a home could be one of the most important financial decisions in your life. Your home could be the largest purchase you ever make. For this reason, it is crucial to avoid mistakes that could cost you money in the future. Your home is going to be among your most important financial assets, so it is imperative to avoid mistakes before making a purchase. Some of the most common homebuying mistakes you could make include: Failing to check your creditworthiness beforehand. You need to review your credit history before even considering buying a home. Your credit reports will determine when you qualify for or can receive reasonable interest rates for a mortgage. Fortunately, you can receive your three credit reports once per year from the three credit agencies to help make this determination. Many mortgage lenders use industry-specific FICO scores, which are calculated by using the information contained in…
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What Are the Top Five Warning Signs of Contractor Fraud?

Are you planning to construct or renovate a home? If you are like many people, you may seek out a contractor to perform the construction or renovations. Unfortunately, there are cases where contractors will scam homeowners out of their hard-earned money. Therefore, you should always be cautious when conducting any type of business transaction with a contractor or contracting service. Warning signs of contractor fraud may include: They demand a significant up-front payment: Be on the lookout for contractors who demand a significant up-front payment. For example, they may ask for more than a third of the payment upfront. Fraudsters are also more likely to ask for payments in cash. They are not registered or licensed: Under the Contractors’ Registration Act, home improvement contractors are required to register with the State unless they are exempted. Registration requirements may not apply to certain community and nonprofit organizations. However, you should remain…
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