More than half of Alberta's farmers are over 55, and many plan to sell within the next few years. Selling a farm means dealing with more money at once than most of us ever handle in our lives. While the majority of buyers you will deal with are honest, there are people looking to take advantage. So, if you’re selling or someone you know is planning to list their farm, here are some insights.
● Promises of returns that sound too good to be true
● Pushing you to decide quickly
● No paperwork or clear explanations about fees
● Can't explain their investment strategy
● Claims of a "special" opportunity just for select people like you
Before committing to anything, consult with someone else in the financial world. Run it by your accountant or lawyer to get their insights. Bring a family member or trusted neighbour to meetings; a second set of ears helps.
If you suspect fraud or have been the victim of fraud, report it to your local police service and the Canadian Anti-Fraud Centre online at: https://antifraudcentre-centreantifraude.ca/report-signalez-eng.htm or by calling: 1-888-495-8501. You should also contact your bank and credit card company if you believe your personal or financial information has been compromised.
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