Last week, I get a phone call from my uncle. I pick up the phone and he's telling me how excited he is about a property he just saw. He says to me that he is stepping out on faith because he sees a building that is a good opportunity for a family business. He was soooooooo excited.

The next day (it was too late to be making appointments when he called me), I rushed to the phone to make the appointment. As soon as it was confirmed, I called my uncle and we met after he got off work that night. It was such a beautiful sight when he pulled up to the building with the whole family in towe. He, his wife, his oldest son, his daughter, his youngest son, his sister in law, and her little girl all jumped out of the SUV. I could see them salivating as they approached the door.

I had to disappoint them....

I couldn't get in. I walked up to the door and reach for the lockbox and to our dismay, there was no face and no key! The family was a little discouraged and I know my uncle was too but of course he didn't show it.

The next day, I called the listing agent to let him know that I tried to show his listing but couldn't get in because someone had broken into his lockbox and took the key. He said he would hop right on it and get another key from the owner. A couple days went by the listing agent called me back with common news that you never think you will encounter until it happens to you........THE PROPERTY WAS STOLEN!! PROPERTY BANDITS STRIKE AGAIN!!! That's right, I said stolen. It happens often here in Philadelphia where there is an abundance of vacant property. Property bandits seek out these vacant properties that have been sitting for a while and high tale it on down to city hall and transfer the deed for their own profit. How do they do this? Well with fake id in the owners name is how. City Hall's on requirement is that the documents are filled out "correctly" according to their requirements and that fraudulent document recording go undetected until a legal transaction is attempted. They have however, made an effort to stop the bandits in their tracks by sending out notification letters to property owners whenever there is a transfer of deed. This is a nice effort but if the property is vacant, where are you sending the letters? Here is a copy of that letter for your viewing pleasure: http://www.phila.gov/records/pdfs/letter.pdf

I don't know if this happens in other areas but I'm thinking that we should do some checking of public records when we have clients who want to buy or sell vacant property. It may be a tedious task but protecting our clients is worth it. Usually these property bandits are looking for a quick sale so checking the public records for any recent transfers in the deed could save your clients time and money. Just think about. Taking that extra step can get you and your clients out of disasters path.

Here are some links for more detailed information:

• City'sPress Release Regarding Fraudulent Document Recording: http://www.phila.gov/records/DocumentRecording/PressRelease.html
• A little history on property theft: http://www.phila.gov/records/DocumentRecording/PressRelease.html
• They steal mortgages too: http://www.phila.gov/records/DocumentRecording/Mortgages.html
• If you suspect if suspicious activity: http://www.phila.gov/records/DocumentRecording/Tips.html

I hope this information helps. In the meantime, the listing agent on my case is working with their client's to help them get this matter resolved. I will post another blog on this topic once I know the outcome. Until then...happy raining........