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  Geebo 8:00 am on June 12, 2024 Permalink | Reply
  Tags: home buying ( 6 ), real estate, Scams ( 1,429 ), zillow ( 16 )   

  $1M home offered for $10K in scam 

  

  By Greg Collier

  A Kansas City couple recently discovered that their luxurious 5,300-square-foot ranch home had been fraudulently listed for sale on Zillow. The scam became evident when friends began inquiring if they were selling their nearly million-dollar home for a mere $10,200.

  Despite the home’s actual market value being around $1.2 million, the fraudulent listing presented a too-good-to-be-true offer, claiming it was part of a charitable gesture to help first-time buyers. The listing further attempted to restrict access to real estate professionals, lenders, and attorneys, aiming to scam potential buyers directly.

  Unfortunately, this scam is not new. Real estate scammers often list high-value homes for sale online at a fraction of their actual price. They typically claim to own multiple properties and present the low price as a way to assist first-time homebuyers, purportedly for tax benefits. However, these scammers specifically target first-time buyers without representation from a realtor, bank, investor, or attorney. They also request payments through platforms like Venmo or Cash App, adding to the fraudulent nature of the scheme.

  In this instance, in Kansas City, the fraudulent listing invited interested buyers to contact a phone number associated with a Las Vegas area code and requested a $200 advance payment through an online banking app, just to take a tour of the home.

  This led to scam victims knocking on their door, expecting a home tour. The couple’s attempts to resolve the issue included providing proof of ownership to Zillow, yet responses from the site were slow. After the local newspaper became involved, Zillow removed the listing.

  If you’re a first-time homebuyer, remember that a homeowner offering a home at a steep discount for a tax write-off is not a legitimate practice. Anyone making such claims in a real estate listing is likely trying to scam you. Avoid making any payments through platforms like Venmo, Cash App or Zelle, as recovering funds from these platforms is nearly impossible once the payment is made.

  To protect yourself from deceptive property listings, verify information with the county’s tax assessment office. This resource will provide you with the necessary details to identify the legitimate homeowner, ensuring a secure and informed home buying process.

   

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  Geebo 8:00 am on May 31, 2024 Permalink | Reply
  Tags: contract for deed, home buying ( 6 ), real estate, Scams ( 1,429 )   

  Avoiding risky home-buying practices 

  

  By Greg Collier

  For those navigating the home-buying market, it’s crucial to be aware of potential pitfalls, particularly when considering a ‘contract for deed.’ This method involves an agreement where the home buyer makes payments over time directly to the seller, rather than securing a traditional mortgage. While this can seem like an attractive option, it carries significant risks.

  The primary concern with a ‘contract for deed’ is the reduced level of protection for buyers compared to standard mortgages. This makes it easier for unscrupulous individuals to exploit the situation. Minnesota’s Attorney General has issued a warning, emphasizing the need for caution and understanding when entering into such contracts. It is essential to fully understand the terms of a ‘contract for deed’ and to be aware of your rights and responsibilities before signing.

  Ensure that the seller has paid the home’s property taxes and that the property is not in foreclosure. Unpaid taxes or foreclosure status can lead to serious complications down the line.

  Determine if the contract includes a balloon payment, and if so, understand the amount and due date. This lump sum payment can catch buyers off guard and create financial strain.

  Before entering into a contract, have a clear plan to pay off the entire amount. Additionally, account for annual property taxes and maintenance costs.

  Obtain a professional home appraisal and inspection. This step ensures you are not overpaying and that the property is in good condition.

  Be prepared to handle repair costs, property taxes, and general upkeep once the contract is signed. These expenses can add up quickly and need to be factored into your budget.

  Check the interest rate being charged by the seller and compare it with rates from lenders. Ensuring the rate is competitive can save you money in the long run.

  Record the contract with the county recorder’s office within four months of signing. This step may provide additional protections under the law.

  If you find yourself a victim of a scam, report it immediately. Many individuals feel ashamed when they realize they have been scammed, but remember that con artists are skilled professionals. Reporting these incidents helps protect others and can prevent future scams.

  In summary, while a ‘contract for deed’ might seem like a viable alternative to traditional home financing, it comes with substantial risks. Thoroughly understanding the contract and being cautious about the details can help you avoid potential pitfalls and make informed decisions in your home-buying journey.

   
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  Geebo 8:00 am on May 10, 2024 Permalink | Reply
  Tags: Immigration ( 13 ), migrant crisis ( 3 ), real estate, rental scam ( 88 ), Scams ( 1,429 )   

  Rental scam targets migrants 

  

  By Greg Collier

  A Denver homeowner’s journey began innocuously enough, with a knock on her door from a migrant seeking to rent her home. Bewildered, she turned him away, only to encounter similar hopefuls in the days that followed. These migrants, deceived by online listings and duplicitous promises, arrived at her doorstep, wallets lighter and dreams shattered.

  The migrants had been victimized by rental scammers. As awareness of rental scams grows among American consumers, the scammers are shifting their focus to those who may be unfamiliar with such schemes. Regrettably, newcomers to our country are perceived as ideal targets by these scammers.

  Armed with stolen identities and falsified documents, rental scammers lure unsuspecting victims with promises of affordable housing, only to vanish into the digital ether once their pockets are lined with ill-gotten gains. Through WhatsApp messages and social media platforms like Facebook, they cast their net wide, preying on the desperate and the hopeful.

  Despite the frustration and helplessness she feels, the homeowner refuses to be a passive bystander in this fight against exploitation. By filing a complaint with the Denver Police and raising awareness about these fraudulent activities, she epitomizes the spirit of community activism.

  Yet, amidst the darkness, glimmers of hope emerge. Activists’ tireless efforts to educate and empower migrants through outreach initiatives exemplify the resilience of the human spirit. By equipping individuals with the tools to recognize and report scams, she instills a sense of agency in the face of adversity.

  At its core, the fight against rental scams transcends borders and boundaries. It is a testament to our collective humanity, a reaffirmation of our shared responsibility to protect the vulnerable among us.

  If you’re interested in supporting the migrant community in your area, there are numerous ways you can assist them in steering clear of rental scams.

  Please consider sharing information about common rental scams targeting migrants through social media, community forums, and local outreach events. You can also offer guidance and support to migrants who may be navigating the rental market for the first time in the US. Share tips on how to verify the legitimacy of rental listings.

  Many migrants may face language barriers when communicating with landlords or navigating rental agreements. Offer language assistance or connect them with interpreters or bilingual resources to ensure they fully understand their rights and obligations.

  Encourage individuals to report any suspicious rental listings or encounters with potential scammers to local law enforcement agencies, consumer protection authorities, or housing advocacy organizations. Prompt reporting can help prevent further victimization and protect others from falling prey to similar scams.

   
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  Geebo 8:00 am on May 1, 2024 Permalink | Reply
  Tags: deed transfer ( 13 ), forged title ( 3 ), real estate, Scams ( 1,429 ), title theft   

  Title Theft: The shocking crime robbing property owners blind 

  

  By Greg Collier

  In the heart of Houston, Texas, a tale of land theft has rattled the very foundations of property ownership. A landowner was recently devastated to learn that her cherished plot of land had been illicitly transferred to another party without her knowledge or consent.

  This story is not an isolated incident but rather a symptom of the growing criminal trend of title theft. This insidious form of fraud sees rightful property owners stripped of their assets, often resulting in substantial financial losses and profound emotional distress.

  Through a web of falsified documents, fake identities, and dishonest transactions spanning continents, these criminals exploit vulnerabilities in the property registration system to perpetrate their crimes. In the victim’s case, the paper trail led all the way to Austria, where a fake notary and fraudulent documents facilitated the transfer of her land to an unknown recipient.

  Efforts to combat title theft have been met with mixed success. Legislative measures aim to bolster protections for property owners by mandating stringent verification procedures for title transfers.

  County clerks play a pivotal role in safeguarding against title theft, with initiatives such as photo ID verification serving as crucial deterrents to fraudulent transactions. Yet, as evidenced by the victim’s ordeal, gaps in the enforcement of such measures persist, highlighting the need for greater collaboration between law enforcement agencies, legal professionals, and regulatory authorities.

  In the face of this ever-evolving threat, property owners are advised to take proactive steps to protect their assets. Utilizing resources such as property transaction alerts, offered by some county clerks, can provide an early warning system against unauthorized activities. Additionally, investing in title insurance and home title monitoring services can offer an added layer of security against potential losses resulting from title theft.

   
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  Geebo 8:00 am on April 10, 2024 Permalink | Reply
  Tags: deed transfer ( 13 ), deeds ( 7 ), quitclaim deeds, real estate, Scams ( 1,429 )   

  Victim losing home in quitclaim deed scam 

  

  By Greg Collier

  In a heart-wrenching turn of events, a widow from Mississippi, found herself ousted from her family home after falling victim to a deceptive scheme. Left to fend for herself and her two grandchildren following her husband’s sudden demise, the victim faced financial strain, struggling to navigate the complexities of single-income living. Desperate for relief, she sought assistance from a company recommended by a family member, only to find herself fighting for her home.

  The victim recounts her fateful decision to confide in the company representative, sharing a copy of the deed of trust to her home in hopes of securing financial respite. Little did she know that this seemingly innocuous act would pave the way to her current troubles. The consequences of her trust proved dire when a quitclaim deed surfaced, transferring ownership of her cherished home to unknown hands.

  The ensuing legal battle saw the victim stripped of her home of nearly two decades, labeled a trespasser on what was once her property. Despite her protests and pleas, a county court ruled in favor of the company, ordering her eviction and demanding repayment of purported debts exceeding $19,000. The weight of injustice bore down heavily on the victim’s shoulders as she scrambled to find shelter for herself and her vulnerable grandchildren.

  Her story serves as a poignant reminder of the dangers lurking in the shadows of financial desperation. The Better Business Bureau (BBB) echoed this sentiment, cautioning against the insidious tactics employed by scammers under the guise of mortgage assistance. The allure of relief can blind even the most cautious individuals, leading them unwittingly into the clutches of exploitation.

  The BBB offers practical advice to safeguard against such predatory practices. Vigilance is paramount, with property owners urged to monitor their records diligently through the county’s register of deeds, flagging any unauthorized transactions. Heightened awareness of credit activity and steadfast refusal to transfer property ownership to dubious entities serve as crucial deterrents against potential scams.

  For those who have fallen victim to a quitclaim deed scam, recourse exists through legal channels and law enforcement intervention. Seeking counsel from an attorney and exploring protections afforded by title insurance can provide a glimmer of hope amidst the darkness of deceit.

   
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  Geebo 8:00 am on March 21, 2024 Permalink | Reply
  Tags: Cash App ( 42 ), Facebook Marketplace ( 65 ), real estate, rental scam ( 88 ), Scams ( 1,429 )   

  Online home rental scams still persist 

  

  By Greg Collier

  In the quest for a new home, the excitement of finding the perfect place can sometimes blind us to potential dangers lurking beneath the surface. One Huntsville, Alabama, family, like many others, found themselves in a predicament that serves as a stark reminder of the prevalence of rental scams in today’s digital age.

  Their story began with hope and anticipation as they stumbled upon a promising listing for a spacious 3-bedroom, 2.5-bathroom home in a desirable neighborhood. With ample space for her family and their beloved dogs, it seemed like fate had led them to their dream home. Little did they know, this seemingly perfect opportunity would soon turn into a nightmare.

  Upon contacting the supposed landlord via Facebook Marketplace, the family was met with prompt responses and arrangements for a tour of the property. Despite initial red flags, such as the absence of the landlord during the tour and instructions to access the property through an electronic lockbox, they proceeded with unwavering trust.

  Throughout the process, the purported landlord remained courteous and accommodating, alleviating any doubts the family may have harbored. With the presentation of an electronic application, approval, and a virtual lease agreement, everything appeared legitimate. Even the method of payment, a combination of Cash App and Walmart Money transfer, seemed routine, mirroring the family’s current dealings with their legitimate landlord.

  It wasn’t until the family’s prudent decision to verify the authenticity of the listing online that the harsh reality of the situation came crashing down. Multiple listings of the same property on reputable platforms, all managed by a professional property management company, exposed the elaborate ruse orchestrated by scammers. The family was devastated when they realized the extent of the deception and the loss of their hard-earned money, $1,125 was gone in an instant.

  To prevent falling victim to rental scams, it’s crucial to exercise caution and employ protective measures. Cross-reference information provided by landlords with reputable real estate platforms and property management companies.

  Exercise caution if landlords refuse to meet in person or request unusual payment methods. Just because your current landlord accepts payment through an app doesn’t imply that every user of that app is reliable. Payment apps like Cash App are intended for transactions among people you already have personal connections with.

  If something feels off, don’t ignore your intuition. Take the time to investigate further before committing to any agreements or payments. And By reporting scams to the appropriate authorities, you not only protect yourself, but also contribute to the prevention of future fraudulent activities.

   
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  Geebo 9:00 am on February 27, 2024 Permalink | Reply
  Tags: business scam ( 3 ), check scam ( 80 ), fake check ( 49 ), overpayment scam ( 9 ), real estate, Scams ( 1,429 ), tree cutters   

  Homeowner almost loses trees to business scam 

  

  By Greg Collier

  Scams come in various shapes and sizes. Take the widespread jury duty scam, for instance. Scammers reach out to numerous individuals, aiming to persuade as many as possible into parting with their money. On the other hand, scams can also be highly specific, honing in on niche industries that most people wouldn’t consider as typical scam targets.

  In a recent incident in Nashville, a homeowner found themselves warding off multiple tree-cutting companies attempting to remove perfectly healthy and mature trees from their property. While it might initially seem like the mischief of local pranksters or a vexed neighbor, the homeowner wasn’t actually the main focus of the scam.

  It’s suspected that the tree-cutters were ensnared in the overpayment scam, often known as the fake check scam. In this ploy, a check surpassing the agreed-upon amount is furnished for a transaction, with scammers urging the return of the excess before the victim or their bank detects the check’s falsity. This tactic leaves the victim liable for the entire amount to their bank.

  The homeowner’s property was targeted in the scam due to its status as a listed property for sale. Scammers often exploit homes in this situation, assuming they are unoccupied during the sales process.

  Business owners can take proactive measures to safeguard themselves against the overpayment or fake check scam.

  Before proceeding with any transaction, especially involving a check for an amount exceeding the agreed-upon price, confirm the customer’s identity and purpose of the transaction.

  Whenever possible, encourage or require the use of secure and traceable payment methods such as electronic funds transfer, credit cards, or certified checks. These methods offer more security compared to personal or business checks.

  If you receive a check, especially if it’s unusually large or if there’s pressure to return a portion of the payment, independently verify its authenticity. Contact the issuing bank directly to confirm the validity of the check.

  Don’t release goods or provide services until the check has fully cleared. Depositing a check doesn’t guarantee its clearance, and it may take time for banks to confirm its legitimacy.

  By implementing these precautions, business owners can reduce the risk of falling victim to the overpayment or fake check scam.

   
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  Geebo 9:00 am on February 23, 2024 Permalink | Reply
  Tags: business email compromise ( 13 ), real estate, Scams ( 1,429 )   

  The costly conundrum of real estate email compromise 

  

  By Greg Collier

  Two years ago, a California couple embarked on the daunting journey of finding their dream home amidst a competitive market and low-interest rates. After viewing 50 homes, facing disappointment with three failed bids, they finally secured a house, breathing a sigh of relief. Little did they know, their ordeal was far from over.

  Navigating through the intricacies of the escrow process, the couple encountered an unexpected twist at the eleventh hour. What seemed like smooth sailing turned into a nightmare when they received wire instructions for their down payment via email, purportedly from their escrow agent. Trusting the legitimacy of the communication, they wired a substantial sum, only to realize days later that they had fallen victim to a scam.

  The email, meticulously crafted by fraudsters, mirrored previous correspondences, complete with a familiar tone and personalization, lulling the couple into a false sense of security. This suggests potential breaches in the escrow company’s email system as the point of entry for the scammers.

  This incident, known as business email compromise, has become alarmingly prevalent, with FBI data revealing staggering losses amounting to billions of dollars annually. Despite mandatory reporting of fraud by escrow companies, recourse for victims remains elusive.

  Attempts to seek redress from the couple’s escrow company yielded no response, leaving them grappling with the harsh reality of their depleted savings and mounting debt. Forced to borrow from family to salvage their homeownership dreams, they now face the arduous task of repaying borrowed funds, a burden that weighs heavily on their shoulders.

  When making a down payment on a home, always confirm wire instructions through direct communication with trusted contacts, avoiding reliance solely on email correspondence. If prompted to call for wire instructions via email, ensure that you dial a known or verified number.

   
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  Geebo 9:00 am on February 13, 2024 Permalink | Reply
  Tags: craigslist ( 129 ), real estate, rental scam ( 88 ), Scams ( 1,429 )   

  Craigslist rental scam leaves landlord and tenants in a bind 

  

  By Greg Collier

  In a cautionary tale that underscores the importance of due diligence in the rental market, a landlord and four unsuspecting residents in Virginia Beach found themselves ensnared in a potential rental scam. What began as a seemingly routine rental agreement ended in confusion, financial loss, and upheaval for all parties involved.

  The story revolves around a realtor, who leased a four-bedroom home in late 2023, only to discover that she had fallen victim to a scam orchestrated by someone posing as the property owner. Initially, everything appeared to be in order, with rent payments arriving punctually. However, by December, the payments ceased, and communication with the supposed tenant abruptly halted.

  It wasn’t until February, when the realtor visited the property, that the full extent of the deception became apparent. Instead of finding her tenant, she encountered unfamiliar faces, shocked to learn that the person they had been paying rent to wasn’t the true owner of the property. Locks had been placed on individual bedroom doors, and the house was being sublet to unwitting tenants.

  Further investigation revealed that the imposter had listed individual bedrooms for rent on Craigslist, collecting money from multiple tenants while failing to fulfill his own financial obligations to the realtor. The deceit extended to using a different name in the listings, potentially to obfuscate his true identity.

  The ramifications of the scam were profound. Not only did the realtor face financial losses and property damage, but the unsuspecting residents also found themselves displaced and potentially out of pocket.

  This serves as a stark reminder of the prevalence of rental scams and the need for vigilance when navigating the rental market. Verifying property ownership is a crucial step for potential renters to ensure they are dealing with legitimate landlords and avoiding rental scams.

  Most counties maintain online databases where property records are publicly accessible. Prospective renters can search for the property address on the county assessor’s website to find information about the current owner. This information typically includes the owner’s name and contact details.

  Property tax records are another reliable source of information regarding property ownership. Renters can visit the local tax assessor’s office or access their website to inquire about property tax records. Tax records typically include the name of the property owner, the assessed value of the property, and tax payment history.

  Renters can directly verify property ownership by requesting proof of ownership from the landlord. This could include asking for a copy of the property deed or rental agreement. Legitimate landlords should be willing to provide this information to establish trust and transparency with potential tenants.

  By utilizing these methods, potential renters can verify property ownership and protect themselves from rental scams and fraudulent landlords. Taking the time to conduct due diligence and verify ownership details can help ensure a safe and secure rental experience.

   
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  Geebo 9:00 am on February 9, 2024 Permalink | Reply
  Tags: Cash App ( 42 ), real estate, rental scam ( 88 ), Scams ( 1,429 )   

  Rental scammer targets single moms 

  

  By Greg Collier

  There’s a common misconception that scammers exclusively prey on wealthy individuals. This couldn’t be further from reality. Scammers actually target those with limited financial resources because they’re aware that many low-income families can find themselves in dire circumstances through no fault of their own. The priority for scammers is simply to seize whatever money they can, with little concern for the repercussions on their victims.

  Authorities in Fayetteville, North Carolina, are actively pursuing a rental scammer who has been specifically preying on single mothers in search of housing. The scammer’s online advertisements purportedly aimed to assist single moms, luring them in with false promises. Multiple victims have bravely stepped forward, revealing that they fell victim to the scammer’s scheme, paying him only to discover that he lacked any legitimate authority to rent the property he was advertising.

  
  One victim shared her harrowing experience of being shown the home, being assured that it would be available within days after the previous tenants were evicted. Trusting the scammer’s words, she handed over a $300 deposit via Cash App. However, her hopes were dashed when she received a string of excuses as to why she couldn’t move in as promised.

  Another victim’s ordeal was even more devastating. Having paid $2000 to secure the rental, they were in the midst of arranging internet service and had even taken out renter’s insurance in anticipation of moving in. It was only later that they realized they had fallen victim to a scam.

  An investigation uncovered that the scammer actually resided in the very home he claimed to be renting out, which was owned by his parents.

  Rental scams like this one can have devastating consequences for single mothers and their children. Being duped in such a manner often leaves families homeless, further exacerbating the already dire housing crisis. With so many families already struggling financially, falling victim to such scams only worsens their situation, compounding their distress and uncertainty about finding stable housing.

  Single mothers can take several steps to protect themselves from rental scams. Thoroughly research the property and the landlord before committing to anything. Check multiple sources to verify the legitimacy of the rental listing. Request proof of ownership or authorization to rent the property from the landlord. Cross-check this information with public records if possible.

  Avoid making payments through untraceable methods like cash or wire transfers. Use secure payment platforms or methods that offer protection against fraud, such as credit cards or rental platforms with built-in payment systems. If something seems too good to be true or if you feel pressured to make a quick decision, trust your instincts and proceed with caution.

  If you encounter a suspicious rental listing or believe you’ve been targeted by a scam, report it to the relevant authorities, such as local law enforcement or consumer protection agencies.

  By taking these precautions and remaining vigilant, single mothers can reduce the risk of falling victim to rental scams and protect themselves and their families from financial harm.