What Is Real Estate Fraud?
Real estate fraud is when an agency or individual provides misleading information in a real estate transaction. It can happen in a variety of ways and can involve multiple parties, sometimes resulting in a class-action lawsuit. As an example, a seller provides inaccurate information regarding the size of townhouses or apartments they sold. In this case, the fraud can result in multiple buyers impacted by the deception.
The Most Common Types of Real Estate Fraud
While there are many types of real estate fraud, we cover a few of the most common below:
According to the FBI, in a recent press release, loan fraud is one of the fastest developing white-collar crimes in the U.S. The omission of critical data or misrepresentation of material information related to the real estate property resulting in fraudulent transactions.
Wrongly foreclosed properties can lead a homeowner to think that they lost ownership of their home, resulting in them giving up their homes and moving out.
Title fraud is when the ownership (title) of the property is changed through fraudulent methods. An example would be - an individual sells a property that belongs to another by pretending to be the owner. In a case like this, the real owner is probably not aware of the transaction.
Value fraud is when a buyer is deceived about the actual value of the property. Value fraud can be accomplished by the seller or agent omitting or misrepresenting relevant information about the property and its features.
How Can You Prevent Real Estate Fraud?
Throughout a real estate business transaction, there are many opportunities for real estate fraud. That’s why it is best if all parties involved follow specific steps to prevent real estate fraud from happening.
Below are a few ways to stop real estate frauds.
Avoid rushing real estate transactions, whether it’s selling or buying.
Do your homework, research the real estate agents and brokers involved in the transaction.
Always get an appraisal of the property you are buying or selling. This step will help establish a fair market value of the property and is usually required when financing. Problems arise when purchases are made in cash and do not require an appraisal.
Understand the property title details before you proceed with a real estate transaction. An experienced real estate closing attorney in Lake Charles, LA. will be a valuable asset in avoiding real estate transaction fraud.
Do I Need a Lawyer?
Real estate fraud is becoming a serious issue, and you stand to incur tremendous losses. Even the most vigilant and knowledgeable buyers can be subject to deception. That's why it is highly recommended you involve an experienced local real estate lawyer when investing in property.
Real Estate Fraud, Real Estate Law, Real Estate Attorneys, Real Estate Lawyers, Real Estate Title Closing Attorneys, Lake Charles, LA,
In the oil and gas industry - chemical refineries (a.k.a. chemical plants) are considered a "downstream" sector engaged in refining crude oil that is extracted and transported by tankers. While there tend to be more accidents in the extraction and transportation sector, that doesn't mean chemical plants and refineries are exempt from dangerous accidents.
Our attorneys work with employees and subcontractors of chemical refineries who have sustained serious injury and the widows of chemical plant employees. We are also aware that the dangers related to refinery fires and explosions are not always contained within the boundaries of the refinery. Those living near the refinery can also be injured.
Serious injury and wrongful death cases require attorneys with extensive experience, but also the financial resources to properly prepare the case for trial. Lundy, Lundy, Soileau & South works with physicians in specialty fields, life care planners who focus on rehabilitation plans, economists and other trained professionals to properly assess refinery accident cases. With the experience and knowledge gained from handling cases like these for more than 33 years, we strive to obtain compensation to the fullest extent possible on behalf of those injured, whether individuals or surviving family members.
Call 337-439-0707 (toll-free 800-259-1005) or contact our office online for a free consultation.
From Personal Injury to Toxic Exposure
Injuries range from electric shock, crush injuries, plant explosions, to toxic chemical exposure. Explosions and refinery fires have been known to cause injury to nearby residents, damaging property and drinking water.
Many times, a petrochemical company or a subcontractor's lack of compliance with safety and maintenance regulations are the cause of the accident. If they had adhered to applicable regulations, the accident could have been prevented, saving workers and neighbors from personal injury and property damage. That is where we can help.
Compensation for Injured Oil and Gas Workers and Refinery Neighbors
After a chemical refinery accident or explosion, you may require compensation for medical bills, lost income, pain and suffering, and possibly property damage. Our experienced litigation attorneys are here to help. Call (337) 439-0707, (800) 259-1005 or use our contact form to reach Lundy, Lundy, Soileau & South’s - Oil & Gas Accident Attorneys.
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