L
ow Inventory, High Risk: Ohio Warns Residents of Unsolicited Real Estate Offers

    With the national housing shortage reaching a staggering 3.7 million units for sale or rent, homeowners in Ohio are being targeted by unsolicited offers to purchase their properties. The Ohio Department of Commerce is sounding the alarm, urging residents to exercise caution and verify the authenticity of these offers.

    The low inventory has created a perfect storm for scammers, who may use fake disclosure forms from the Real Estate and Professional Licensing division to make their offers appear legitimate. But don't be fooled – even if the form looks authentic, the offer itself could be a scam designed to take advantage of homeowners looking to sell or lease their properties.

    Homeowners are being warned that these unsolicited offers can lead to selling their property for significantly less than its worth or agreeing to lease arrangements that can have devastating financial consequences. To avoid falling prey to these scams, residents should always ask questions and verify the identity of anyone contacting them about buying or leasing their home.

    REPL Superintendent Daphne Hawk advises homeowners to be cautious and seek advice from a local real estate expert before signing any documents or providing information to unknown parties. "Don't rush into anything," she warns. "Take your time, review offers carefully, and make sure you're getting a fair deal."

    To protect yourself from unsolicited offers, the Federal Trade Commission recommends taking these simple steps:

    * Verify real estate licenses online

    * Stop junk mail and unwanted calls

    If you suspect you've been targeted by a real estate scam, contact your local law enforcement agency immediately. Remember, it's always better to be safe than sorry when it comes to protecting your property and financial well-being.