The U.S. Secret Service of Cybercrime Investigation has observed a sharp increase in reports of real estate fraud associated with vacant property free of liens and loans. I hope this scenario never pops up in your career but want to make sure you're aware of it as I've had real estate agents in my sphere experience it this year. The criminal searches public records to identity property that is free of a mortgage, liens and the physical identity of the owner (many times this is someone foreign or elderly or someone who has a career that motivated them to intentionally scrub their info from the internet.) The criminal then poses as the property owner, likely requests it being listed below current market value to generate immediate interest, expresses preferences for a cash buyer and negotiates the sale of the property. The fraud is often discovered when recording the transfer of documents with the county but there are ways to prevent it from getting that far (ways that the title company handling the transaction should be on the look out for as well.)
Thanks for your information. It always amazes me how scams crop up in our industry, and anywhere. Just another reason to compare legal documents, and scrub title reports. Have a great day!
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Will Hamm
Aurora, CO
Thanks for the heads up. Here in CT, all sales need lawyers so I would like to assume that it would get noted before it went too far.
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Will Hamm
Aurora, CO
ugh, thanks for sharing and providing the warning. It is really a shame how common these scams are , across so many areas
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Will Hamm
Aurora, CO
Hello Trish Cole and I know of some agents do not even look at the title work, big mistake
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I don't think this could happen here Will as we use attorney's for all our closings!
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Will Hamm
Aurora, CO
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Lawrence "Larry" & She...
Plainview, NY
Our title companies are on it. They sent out a big warning last month letting us know what they are finding. I just got an email today which I deleted from a so called prospective seller that wanted to sell quickly. Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 I've had friends in NY who had this happen and they closed with an attorney. These scammers are really getting good!
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Will Hamm
Aurora, CO
Bad stuff, thanks for the heads up.
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Will Hamm
Aurora, CO
HI Will- it is a shame and sad that these thieves keep coming out of the woodwork to prey on people.
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Will Hamm
Aurora, CO
Will interestingly two people just got found guilty and will be heading to jail for stuff like this in my market, Endre
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Will Hamm
Aurora, CO
Scam, scam, everywhere a scam... Is that how the song goes? There are definitely way too many scams in the world these days.
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