Back HomeLand Sales Fraud: How to Protect Yourself
For several years, real estate professionals have been warned to watch for individuals posing as landowners or their representatives. These imposters typically contact a Realtor, requesting to list a property for sale. They insist on electronic communication, are eager to accept a below-market price for a quick sale, and often insist on using a notary public of their choosing.
Recently, this scam has evolved to include direct approaches to neighboring property owners. The imposter offers to sell an adjacent parcel at an attractive but suspiciously low price, again aiming for a swift transaction.
To avoid falling victim to this scheme, consider these safeguards:
Verify Identity:
Request a copy of the seller’s government-issued photo ID. Fraudsters often disappear when asked for identification.
Engage a Title Company:
Require a title company be engaged to confirm clear ownership and issue title insurance. Title professionals are trained to detect fraudulent transactions and will ensure that a reputable notary public is used for closing documents.
Trust Your Instincts:
If a deal seems too good to be true, it likely is.
When in doubt, consult a trusted Realtor or Title Agent for guidance. Staying vigilant is the best way to protect yourself and your property.
