Chicago Real Estate Perspective

Jonathan Aven: Fraud in Real Estate

Episode Summary

In this episode, Dave and Jonathan discuss: The evolution of fraud in real estate and how it has changed through the years. Protecting yourself from wire fraud. What title fraud is and how it has become more prevalent over the last 5 years. Having a little paranoia to protect your money in real estate transactions. Key Takeaways: If you catch fraud, the key is to catch it as quickly as possible before it leaves the US. The first step is to protect yourself from falling for fraudulent emails. With title fraud, people tend to focus on areas where they won’t get caught such as homes with a lot of equity, second home properties, etc. If your property is in the name of a land trust company, it is more difficult to find who you are and can help to prevent title fraud. "Use common sense. Be cautious. Take your time. Most of the problems that occur with wire fraud is human error." —  Jonathan Aven Connect with Jonathan Aven: Website: https://avenlaw.com/ Email: jonathan@avenlaw.com LinkedIn: https://www.linkedin.com/in/jonathanaven/ Twitter: https://twitter.com/avenlaw Facebook: https://www.facebook.com/jonathanavenlaw/ Resource: Cook County IL Clerk - Property Fraud Unit: https://www.cookcountyclerkil.gov/recordings/property-fraud-unit Connect with Dave Nimick: Website: https://thenimickteam.com/ Email: dave@thenimickteam.com YouTube: https://www.youtube.com/channel/UC4WqeMs62CL3T5P-w6ncqbQ/videos LinkedIn: https://www.linkedin.com/in/davenimick/ Facebook: https://www.facebook.com/thenimickteam Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty Show notes by Podcastologist: Chelsea Taylor-Sturkie Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

Episode Notes

In this episode, Dave and Jonathan discuss:

• The evolution of fraud in real estate and how it has changed through the years.
• Protecting yourself from wire fraud.
• What title fraud is and how it has become more prevalent over the last 5 years.
• Having a little paranoia to protect your money in real estate transactions. 

Key Takeaways:

• If you catch fraud, the key is to catch it as quickly as possible before it leaves the US.
• The first step is to protect yourself from falling for fraudulent emails. 
• With title fraud, people tend to focus on areas where they won’t get caught such as homes with a lot of equity, second home properties, etc.
• If your property is in the name of a land trust company, it is more difficult to find who you are and can help to prevent title fraud. 

"Use common sense. Be cautious. Take your time. Most of the problems that occur with wire fraud is human error." —  Jonathan Aven

Connect with Jonathan Aven:

Website: https://avenlaw.com/

Email: jonathan@avenlaw.com

LinkedIn: https://www.linkedin.com/in/jonathanaven/

Twitter: https://twitter.com/avenlaw

Facebook: https://www.facebook.com/jonathanavenlaw/

Resource: 

Cook County IL Clerk - Property Fraud Unit: https://www.cookcountyclerkil.gov/recordings/property-fraud-unit

Connect with Dave Nimick:

Website: https://thenimickteam.com/

Email: dave@thenimickteam.com

YouTube: https://www.youtube.com/channel/UC4WqeMs62CL3T5P-w6ncqbQ/videos

LinkedIn: https://www.linkedin.com/in/davenimick/

Facebook: https://www.facebook.com/thenimickteam

Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty

Show notes by Podcastologist: Chelsea Taylor-Sturkie

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.