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According to the FBI, seniors were scammed out of over $3.4 billion in 2023. Here are five common real estate scams aimed at seniors—and how to protect yourself:
🔏 Deed Theft & Title Fraud
Scammers forge your signature and file a fake deed to “steal” your property.
✅ Check your property records regularly with your county recorder or registrar of deeds.
💸 Wire Transfer Scams
You receive a message from someone claiming to be your title or mortgage company, asking you to urgently wire funds.
✅ Always verify directly by phone with your mortgage company before sending any money.
👥 The “Helpful” Friend or Relative
Someone close offers to “buy” your home at a discount to help you out—then sells it for a profit.
✅ Place your home in a trust or set up a power of attorney with safeguards in place.
🧰 Fake Contractor Scams
A contractor insists there’s an urgent problem—then takes your money and disappears.
✅ Always get at least two quotes and never sign anything under pressure.
🏦 Reverse Mortgage Pressure
Scammers push reverse mortgages as an easy solution—but with hidden costs or outrageous fees.
✅ Always consult a trusted financial advisor or attorney before signing.
As an SRES® designee, I work with adults 55+ to protect what they’ve built and make informed real estate decisions. If you have questions about safe transactions or want referrals to trusted professionals, I’m here to help.
