Oklahoma Association of REALTORS® warns of foreclosure scam

Scammers turn foreclosures into available property to rent on Craigslist

OKLAHOMA – Oklahoma Association of REALTORS® (OAR) is warning Oklahomans about a current real estate scam happening in the state. Scammers are using foreclosed properties and listing them online on Craigslist as available for rent. Would-be renters fill out an application, and once “approved” are asked to send money via Western Union or other wire service to rent the property only to find out later that the property is foreclosed.

“I know of at least two occasions where this has happened locally,” said Chuck Harris, OAR president. “We want to ensure that Oklahomans are aware and protected from a scam like this. Be sure to never extend payment to anyone you have not met in person, do not wire funds and do not rent a property sight-unseen.”

OAR is offering the following tips to Oklahomans to help avoid a foreclosure/renters scam:

Do not pay anyone you have not met. The best way to avoid a scam is to work with someone local you can meet in person. Never make a payment to someone you have not met and do not send funds via wire or another service like Western Union. Also, do not rent a property sight-unseen. If a deal sounds too good to be true, it probably is.

Never give out financial information. You should rarely, if ever, provide credit card and other financial information over-the-phone; especially to anyone you cannot verify or have not met in person. One warning sign is if the scammer is asking for a lot of personal and sensitive information up front. They could be looking to steal your information.

Do your research. Always review an online posting, especially on Craigslist, with a critical eye. Be sure to research everything that the listing mentions, including the address, any names and any companies mentioned.

Report suspicious activity or scams. Help keep other Oklahomans informed when you suspect an individual or business might be taking advantage of you or if you have been the victim of a scam. Call (405) 239-6081 to file a complaint with Better Business Bureau of Central Oklahoma and call local law enforcement.

About the Oklahoma Association of REALTORS®

The Oklahoma Association of REALTORS® is the voice and first source for information, expertise and advocacy related to the practice of real estate in Oklahoma. Established in 1921, it is one of Oklahoma’s largest trade associations with more than 9,000 members involved in all aspects of the real estate industry. For more information, visit www.okrealtors.com.

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