realestate

Ohio Warns of Potential Scams in Unsolicited Real Estate Offers

Ohio Department of Commerce Warns Against Unsolicited Real Estate Offers

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*Beware of Unsolicited Offers: Protect Your Property Rights**

    Columbus, Ohio - February 4, 2025 - The Ohio Department of Commerce's Division of Real Estate and Professional Licensing (REPL) is sounding the alarm on unsolicited offers to purchase real estate. With a national housing shortage and low inventory in Ohio, homeowners are increasingly receiving unexpected offers that may not be in their best interest.

    While some consumers have reported receiving authentic disclosure forms from REPL alongside these offers, it's essential to remember that this does not validate or legitimize the offer itself. In fact, unsolicited offers can lead to consumers unknowingly selling their property for less than its worth or entering into lease arrangements with unintended financial consequences.

    According to recent reports, homeowners are being targeted by individuals who may not be licensed real estate agents, but rather out-of-state investors looking to capitalize on Ohio's tight housing market. REPL Superintendent Daphne Hawk advises consumers to exercise caution and conduct thorough research before making any decisions.

    "If you receive an unsolicited offer, take the time to ask questions," Hawk said. "Verify the status of a real estate license online through eLicense Online, and review offers carefully with legal counsel before signing anything." Hawk also warns against acting quickly or without consulting a local real estate expert, as this can lead to significant consequences.

    To protect yourself from unsolicited offers, verify the authenticity of any offer by checking the Division's website or contacting your local law enforcement agency if you suspect a scam. For more information on real estate-related consumer topics and resources, visit the Division's website.

Ohio residents warned of potential scams in unsolicited real estate offers nationwide.