Most deals in the real estate or mortgage business go down without a hitch – one party stands true to the other party in the transaction and everyone ends up happy.  Unfortunately, from time to time you’ll run across some practitioners in the business that are a little sketchy or let’s say slightly less than ethical, if you know what I mean.  Here are 7 reasons to run (not walk) away from a potentially disasterous shady deal…

One.  You’re asked to “fib a little” on the paperwork.  Let’s face it, more often than not it’s probably possible to pull a little bit of fast one to make the deal work better.  Unfortunately, if anything backfires, you could wind up in much more trouble than you might expect.  Be 100% honest and accurate all the time.

Two.  The deal you’re ready to agree on is changed, even just a little before you’re getting ready to sign.  If you’ve already come to agreement on the terms of your big real estate or mortgage deal, there’s no reason for anyone to try and change anything at the last minute.  Chances are, someone is trying to pull a fast one.  If you absolutely must make amendments, it’s advisable to go back through the entire process with due diligence.

Three.  If any party in a transaction is putting more pressure than you’re comfortable with on the deal, it’s best to run.  If you’re uneasy about anything, that’s your common sense stepping in and giving you a loud and clear warning sign.  There’s no need for pressure tactics in a friendly real estate deal.

Four.  Run if broken promises become a pattern.  It’s one thing to forget about a minor detail or just plain run out of time to get everything done.  It’s another thing all together if promises surrounding a deal are blatantly broken with little or no valid excuse.  Chances are, you probably don’t want to work out a deal with someone who isn’t keeping their promises.  They could very well be trying to hide something or manipulate you.

Five.  Is someone trying to hide something from you?  Use your best instinct.  If you feel that you’re not getting the full story, it’s best to run from the deal.  A real estate transaction is just too big and full of important details to take the risk of finding any surprises that were covered up.  Don’t wind up hoodwinked.

Six.  When it comes to real estate, don’t sign anything without proper review.  Run it past your attorney if necessary, but don’t give your John Hancock without digesting the fine print.  Another caveat – some manipulators might ask you to sign a blank or uncompleted form.  Don’t!  They have a reason for doing this and it usually ends up making you a victim.

Seven.  Don’t be fooled into thinking you can transact a bigger deal than you can honestly afford.  You know your limits, after all that’s part of the due diligence you should do before even pursuing a deal further.  Although it’s becoming rarer with the subprime problems, many times someone will try and push you into stretching your limits simply so they can earn a bigger commission.  If you feel these tactics are being used on you, run from the deal.  They’ll backfire for sure.

And remember the one final piece of advice that holds true in all situations no matter what the circumstances – If a deal seems too good to be true, then it probably is!