PropertyRecord.com Warns Of Real Estate Auction Ripoff Schemes

PropertyRecord.com doesn't want anyone to be the victim of a ripoff when they buy a home. That's one of the reasons why PropertyRecord.com supplies you with comprehensive public real estate reports. But there are other ways that you can become a ripoff victim, and PropertyRecord.com wants to help you avoid those as well - which is why today we are going to talk about a ripoff scheme that is becoming more and more popular.

This ripoff works because many people are trying to save money by buying homes at auctions. They figure that if a bank or a lien holder has foreclosed on a house and is auctioning it off,they should be able to get a good deal. In general, they are right - as long as they don't fall for this ripoff.

What some unsavory auction houses are doing is making people sign a long and complicated contract before they are let into the auction to bid. Hidden in the fine print of the document is a provision that once you buy the home you'll pay a “buyer's premium” to the auction house. This can range from $3,000 to $10,000. Most people don't know they'll have to pay this fee until after they've won the auction on the home.

There is no reason why these auction houses should charge you this fee – that's why it's a ripoff. They are already getting a huge commission for selling the home in the first place. So, adding buyer's fees is simply a matter of greed.

To avoid this ripoff, always Google the name of the auction house and make sure it has a good reputation. Also, read every contract closely before you sign it – this could save you thousands of dollars.

About PropertyRecord.com:

PropertyRecord.com provides property reports and other valuable information to home owners, buyers and sellers across North America. With an extensive database of public records, consumers are able to look up the value, history and residential details on a home or property with a simple search. Visit PropertyRecord.com to chat with a live representative, call 1-855-482-6221, or email Manager@PropertyRecord.com with any questions or concerns.

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PropertyRecord.com Has Gary “Citizen Kane House” Melius In Our Prayers

Obviously, at PropertyRecord.com we love real estate. And we have to keep an eye on real estate related news. Usually, that's fun for the PropertyRecord.com staff. But today we saw an item that made everyone at PropertyRecord.com sad: Gary Melius, who owns perhaps the most famous house in America, was shot by an intruder.

Melius owns the estate Oheka in Long Island. This estate is very famous for several reasons. For one, it's the second-largest private home in North America. For another, it is the home that inspired F. Scott Fitzgerald to write The Great Gatsby. Finally, it is the home used at the set of Xanadu in Citizen Kane.

Any home that could inspire both one of the most famous novels and famous films of all time is something that the PropertyRecord.com staff is going to pay attention to.

Melius was parking his car in front of his house when he was shot, police said. They said that they don't have any suspects at the time, and do not know of any motive for the attempted murder.

Thankfully, Melius survived the shooting, but he is still hospitalized. We hope he makes it through, and is back is his house soon. And we hope that whoever shot him is soon in a “big house” of their own.

We cannot imagine how terrifying it must be to have a gun pulled on you when you are safe at home. And so our prayers are with Mr. Melius.

About PropertyRecord.com:

Customer service website PropertyRecord.com as created to serve the needs of public records clients across North America. With thousands of requests processed each day, PropertyRecord.com continues to grow as a reputable customer service resource. Visit PropertyRecord.com to chat with a live representative, call 1-855-482-6221, or email manager@PropertyRecord.com with any questions or concerns.