At Home With Lisa-What Is Seller Impersonation Fraud?

I want to talk about something that has been rearing its ugly head alot more across the nation and that's Seller Impersonation Fraud.  Have you heard of this?  Let me briefly explain how it works.

The Scheme:

The criminal searches public records to identify real estate free of mortgage and other liens and the property owner's identity.

The criminal then poses as the property owner, contacts a real estate agent stating they want to sell their property quickly, and will list it below market value to generate immediate interest.

The criminal, demonstrates a preference for a cash buyer (they close quicker) and with minimal requests from buyer, such as no inspections.  Then they will quickly accept an offer.

The criminal will refuse to sign closing documents in person and requests a remote notary.

The criminal or co-conspirator also impersonates the notary and provides falsified documents to the title company or closing attorney.  

Title company or closing attorney unwittingly transfers the closing proceeds to the criminal.

Oh, and all communication is electronic, not in person.

So what can you as the property owner do to protect yourself?

I encourage you to create something like a google alert of your property address.  A listing will trigger a notification alerting you to the potential scam.

Contact local law enforcement and file a fraud report immediately with local and state law enforcement and the (FBI)’s Internet Crime Complaint Center

I'm Lisa Longest with Realty Navigator. I am a full time Realtor® GRI® RENE®, C2EX®, CDPE® and PSA® in Anne Arundel and Queen Anne  Counties.  I am here for all your real estate needs. If you are looking to buy, sell or question me about the market in your area, feel free to contact me. I am located in Annapolis and Kent Island. My email is LisaLongest.RE@Gmail.com and cell is 443-786-4200.  
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