Some of the quite common real estate frauds include the following---â€¢ Real estate flippingâ€”It happens when property is bought and sold immediately with the sole motive of inflating its value. This is done using false documentation of loans, exaggeration of incomes and untruthful evaluations so as to get loans. A false evaluation of the property is made to inflate the price by the seller and to get a buyer ready for a huge mortgage. As soon as the property is mortgaged, it is sold while giving mortgage to another buyer. â€¢ Straw buyer- Straw buyer is a person who buys a property on behalf of another pretending himself to be legitimate buyer. In some cases, such buyer is given money is lieu of lending his identity while there are many others who are actually unaware of the fact that their identity is being used in a mortgage deal leading to a fraud.