home buyer: Don't pop the champagne cork until the earnest check clears - 07/28/10 02:33 AM
Deal is too good to be true was a scam in the making.......This scam is going on all over the country and even is Ohio.  Right in our back door.  Last month we received a contract from one of our realtors.  It was a high dollar cash transaction, large earnest money, electronic signature, Canadian buyer and everything was done through emails. 
 
The scheme:
 
The buyer planned to rescind the deals, hoping the Title Companies would wire the earnest money back to the buyer before anyone realizes the check was counterfeit.  With the help from our Underwriter who send us Alert … (5 comments)