EYEWITNESS NEWS (WBRE/WYOU) — Experts are warning potential home buyers about a new scam circulating on social media sites like Facebook Marketplace.
It's no secret that if you're trying to buy or sell a home, it's going to cost you a pretty penny, which is why so many people are taking it upon themselves to do it on social media.
Sites like Facebook Marketplace allow you to buy and sell just about anything, but they can also be breeding grounds for scams.
“Over the past six months, we've seen a huge increase in listings on Facebook Marketplace and we're also getting calls inquiring about properties that we can't find or don't know where to find,” said Yarrow Wilkins, president of the Pocono Mountains Association of Realtors.
Yarrow Wilkins is president of the Pocono Mountains Association of Realtors, and she said the scams her association is seeing include title fraud for both residential and rental properties.
“People send a deposit or send something to hold it, but either the property isn't legitimately for sale or the person who put it up doesn't own the property.”
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But these scams don't just target interested buyers.
The Mount Pocono home is being listed for sale on Facebook Marketplace by Quincy Williams, a Pocono real estate investor who has sold more than a dozen homes through the site and says he's encountered his fair share of scammers.
“They'll send you a check, they'll come in and say they'll offer you the full amount, or they'll offer you an exorbitant amount over what you're asking for and just send you a check. So you have to be careful with that sort of thing.”
Whether you're buying through a real estate agent or online, make sure you take precautions to protect yourself and do your research.
“As long as you come and see them and they see you, you're able to make a connection and you're less likely to get scammed if you meet in person,” Williams explained.
“If this sounds too good to be true, that's because it is,” Wilkins said.
Learn more tips for avoiding scams on the Better Business Bureau website.