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  Geebo 9:00 am on February 23, 2024 Permalink | Reply
  Tags: business email compromise ( 13 ), real estate, Scams ( 1,487 )   

  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 ( 1,487 )   

  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 ( 1,487 )   

  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.

   
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  Geebo 9:00 am on January 19, 2024 Permalink | Reply
  Tags: Google Pay, real estate, Scams ( 1,487 ), zillow ( 16 )   

  Real Estate Scam: First-Time Homebuyers Offered Houses at a Fraction of the Cost 

  

  By Greg Collier

  The county tax assessor’s office in Oklahoma County, Oklahoma, is warning potential homebuyers of a scam that’s recently hit their area. Oklahoma County, includes the capital of Oklahoma, Oklahoma City. According to the assessor’s office, scammers are listing homes for sale that cost hundreds of thousands of dollars for just a few thousand. For example, a home valued at $400,000 was listed for sale on Zillow at just $6000. That price wasn’t meant to be a deposit or down payment, but the full price of the home.

  These scammers are preying on people who have little experience of buying a home. In fact, the ads claim the home prices are so low because the seller is rewarding first-time homebuyers. Typically, scammers who list properties like this claim it’s a tax write-off for them while playing the good Samaritan to their victims. These scammers usually insist the buyer be a first-time home buyer who has no representation such as a realtor, bank, investor, or attorney. The buyers are asked to make their payments through platforms like Venmo, or in the Oklahoma County instance, Google Pay.

  As you may have surmised, the scammers don’t own these homes, and often the homes are not for sale in the first place. Residents have reported prospective buyers and realtors showing up at their home because of the fraudulent listings.

  The Oklahoma County Assessor even called the phone number in one of the phony listings. The person on the other end of the call told them that they’re making a lot of money with this scam, and they can’t be stopped. The County Assessor’s Office said the main problem they’re having is that no victims of the scam have come forward yet. This would assist them greatly in trying to prosecute the scammers.

  If you’re a first-time homebuyer, please keep in mind that a homeowner offering a home at such a steep discount for a tax write-off is not a legitimate practice. Anyone claiming this in their real estate listing is trying to scam you. Also, you should avoid making any payments through platforms like Venmo and Google Pay, as once the payment goes through, it’s almost impossible to reclaim your lost funds.

  Finally, to safeguard yourself from deceptive property listings, it is advisable to verify information with the county’s tax assessment office. This resource will provide you with the necessary details to identify the legitimate homeowner and ensure a secure and informed home buying process.

   
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  Geebo 9:00 am on January 9, 2024 Permalink | Reply
  Tags: Cash App ( 42 ), real estate, rental scam ( 88 ), Scams ( 1,487 ), social media ( 85 )   

  Scammer demands deposit for unauthorized home tour 

  

  By Greg Collier

  A family from Tennessee was looking to move to another part of the state, searching for better job opportunities. They made their intentions known on social media, where they were approached by someone claiming to be a realtor. The realtor told the family he has a home in the area they’re looking to move to. The family was then asked for a $750 deposit. The $750 wasn’t meant as some form of security deposit or holding cost. The realtor said the family needed to pay the $750 just to tour the home.

  Unfortunately, the family paid the realtor the $750 through Cash App. When the family went to meet the realtor at the property, the realtor never showed up. When the family contacted the realtor again, he said he would be there the next day. The next day came, but still, the realtor failed to show up. This time, the realtor claimed that he had been stopped by police and even provided the family a picture of the police officer. It later turned out the police officer in the photo was from another state.

  The family started becoming suspicious about the deal when the realtor sent the family a picture of himself with a realtor’s license. Then the realtor tried to get even more money out of the family by offering them a refund of the $750, but the family would have to pay another $100 claiming that was Cash App’s business fee for the refund. When the family contacted Cash App, they were told there was no such fee.

  If you’re getting ready to make a big life change like moving into a new home, you may want to keep that decision off social media. Sadly, there are too many scammers who are tuned into certain keywords that help them find victims. If you’re approached by a stranger on social media who claims they can help you, be very suspicious and do not give them any money, especially through payment apps like Cash App, Venmo and Zelle.

  To safeguard against rental scams, conduct thorough research on the property. Rather than relying solely on the landlord’s proof of ownership, reach out to the county’s tax assessor’s office to verify the actual property owner. Additionally, perform a Google search using the property’s address to identify any discrepancies in multiple listings, especially differing rental rates. A lower-priced listing among them is likely a fraudulent scheme.

   
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  Geebo 9:00 am on December 19, 2023 Permalink | Reply
  Tags: deed transfer ( 15 ), hospice ( 2 ), real estate, Scams ( 1,487 )   

  Scammers try to steal home from hospice patient 

  

  By Greg Collier

  Having a terminally ill relative is one of the worst things someone can experience, especially if that relative is one of your parents. You’re either praying for a miracle or for their suffering to end quickly. You end up having to do things you never realized you would have to do, like preparing funeral arrangements for someone who is still alive. The last thing you’ll want to deal with is a pair of scammers trying to steal your parents’ home. Sadly, that’s what one man recently had to deal with.

  The victim’s mother has stage 4 cancer and dementia. She’s been under hospice care at her own home. It’s unclear how the alleged scammer came to obtain this knowledge, but the scammer is accused of filing a quit claim deed that shows the mother sold the house to the scammer for $8000. At the time of the supposed sale, the mother was out of state, receiving treatment. The mother couldn’t have even legally sold her home, as her son had power of attorney.

  Complicating matters was the fact that the quit claim deed was notarized; however, the notary may have been in on the scam. Police approached the notary to ask about the claim, and they said they would cooperate with them before avoiding all contact with police. Both the alleged scammer and the notary have been arrested.

  It’s unknown if this was the case in this story, but a lot of these scammers get their information about their victims from social media. Of course, you want to let your family know your relative’s condition, and social media is probably the quickest way to do that. However, before making that post, consider making a private list of need to know people in your friends list and make the post only visible to them.

  Fortunately, there are measures you can take to safeguard yourself. It is advisable to regularly visit the website of your county appraiser to keep track of the property’s ownership. In case your county appraiser lacks an online platform, you can visit their office in person. Additionally, certain counties offer programs that provide alerts in the event of any changes to your deed.

   
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  Geebo 9:00 am on December 7, 2023 Permalink | Reply
  Tags: deed transfer ( 15 ), funeral ( 18 ), grieving ( 3 ), mourning, real estate, Scams ( 1,487 )   

  Scammer tried to steal homes of grieving families 

  

  By Greg Collier

  It wasn’t more than two weeks ago where we posted what, we thought, was the lowest scam we’ve ever heard of. That was when scammers were selling funeral plots to grieving families when the scammers didn’t own the plots in the first place. Now, we may have found one that is possibly even lower than that.

  An Indianapolis man was recently indicted on 16 separate federal charges. The suspect is believed to have targeted grieving families after finding their deceased loved one’s name in the obituaries. For two years, he’s believed to have tried to force these grieving families into selling their homes.

  As per the county prosecutor’s office, the accused tried to coerce the sale of a homeowner’s property, camouflaged a $50,000 bank loan, and employed forged heirship documentation.

  In one instance, the suspect is accused of forging a sales agreement to force a woman in a nursing home to sell her home to him. In another instance, the suspect is accused of forcing a woman with short-term memory loss to lend him $50,000 with no intention of paying it back.

  Scammers often target victims who are in a state of emotional crisis. The goal here is to pressure the victim into making a decision that benefits the scammer, that often appears as a way to help the victim.

  While these scams may have been isolated to the Indianapolis area, it probably won’t be long before someone else tries it while thinking they can do it better.

  Since this is somewhat uncharted territory, we don’t have any concrete ways of protecting yourself from such a scammer. However, we do have some suggestions. If you’re still mourning the loss of a loved one, take as much time as you need to grieve. If you feel like someone is pressuring you into making a financial situation during that time, research whatever they’re offering when you’re ready to. If you have a parent who lost their spouse, and they also have cognitive disabilities, you may want to look into assuming guardianship or power of attorney. While it may appear to them that you’re taking away some of their freedoms, it may protect them in the long run.

   
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  Geebo 9:00 am on November 13, 2023 Permalink | Reply
  Tags: deed transfer ( 15 ), deeds ( 7 ), real estate, Scams ( 1,487 )   

  Scammer sells own father’s house out from under him 

  

  By Greg Collier

  A man from the Houston, Texas, area is currently on the run from the law after failing to appear for his court appearance. The suspect had been arrested for allegedly selling properties that didn’t belong to him, including one that belonged to his father.

  The suspect’s father allowed his son to stay at the father’s condo. The suspect forged the documents necessary to put the house in his name before selling the condo, and keeping the money for himself. This incident is said to be when the suspect realized he could sell other properties he didn’t own.

  The suspect was able to con his way into transferring the ownership of at least two multi-million dollar properties into his name. According to reports, the suspect would forge deeds and notary signatures in order to steal the properties. The plan was to sell the properties for pennies on the dollar before the actual owners could find out. Properties that had no financial liens on them were said to be the suspect’s main targets.

  A realtor became suspicious when one of their clients was trying to buy a $5 million property for less than half of the market value. This property was being sold by the suspect, which he didn’t actually own. When the realtor contacted police, they found the suspect was trying to sell another property he didn’t own.

  Unfortunately, this is not an isolated incident. We’ve posted before about victims who were told to leave their homes after scammers submitted forged deeds to the county showing they were the new owners. We’ve also shared stories about vacant lots being targeted in similar scams. If you own a property outright, you may want to pay attention to scams like this.

  Thankfully, there is a way to protect yourself. It’s recommended you go to your county appraiser’s website regularly to monitor the ownership of your property. If your county appraiser does not have a website, you can go to their office. Some counties even have a program where you can be alerted if anything changes on your deed.

   
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  Geebo 8:00 am on October 30, 2023 Permalink | Reply
  Tags: deed transfer ( 15 ), deeds ( 7 ), fake notary, real estate, Scams ( 1,487 )   

  How to lose your home to a scammer without even trying 

  

  By Greg Collier

  You would think it must be pretty difficult for someone to steal your home out from under you without you noticing. However, it might be easier than you’d imagine.

  A homeowner from St. Louis recently lost ownership of her house to a scammer she never even met. Allegedly, a man went to the Recorder of Deeds with a quitclaim deed which said the homeowner turned the house over to the man for no cost. The man even presented a notarized deed that indicated the homeowner was present when the supposed deal was made. Except, the notary who is said to have officiated over the transfer doesn’t even exist. There is no record of this notary being licensed in Missouri.

  You might assume that once the error was caught, the deed transfer would be cancelled, but the Recorder of Deeds office claims they did nothing wrong. They say it’s not their job to make sure the notary on the deed is licensed. Their excuse is they have 60,000 documents they process in a year, and it’s not their requirement to check each notary.

  Suffice to say, the homeowner is suing both the man who claimed the deed and the Recorder of Deeds office.

  This type of title scam can occur in various locations. We would like to emphasize that while we wish we could provide a foolproof method to shield yourself from such a scam, the effectiveness of protection depends on your place of residence. Certain counties in the US have implemented a program that alerts homeowners via email if any documents bearing their name concerning their property appear in county offices. Unfortunately, not every county offers this service.

  If you have concerns about falling victim to such a scam, it’s advisable to investigate whether your county has a comparable program in place. If not, you may want to consider reaching out to your county authorities and suggesting the implementation of such a safeguard.

   
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  Geebo 8:00 am on August 22, 2023 Permalink | Reply
  Tags: Cash App ( 42 ), craigslist ( 129 ), paypal ( 12 ), real estate, rental scam ( 88 ), Scams ( 1,487 )   

  Elaborate rental scam leaves more families homeless 

  

  By Greg Collier

  Rental scams seem to be grabbing plenty of headlines lately. There hasn’t been an increase in rental scams. Rental scams are one of the more common scams going today and has been for a while. We think the headlines are escalating because increasingly more families are becoming homeless because of the scam.

  For example, two families moved from out of state to Aurora, Colorado. The first family is from Las Vegas and saw an and for a four bedroom home for rent on Craigslist. This family tried to do all of their due diligence. They asked the landlord for proof of ownership, which they provided. The father of the family even drove from Las Vegas to Aurora to meet with a realtor who showed him the home. The man agreed to rent the home and arranged to make the deposit.

  The realtor asked for payment through Cash App, which the man almost recognized as a red flag. However, the Las Vegas man insisted on paying through PayPal instead. Once the realtor received the payment, he gave the family the code to enter the home. So, they packed up all their belongings and moved from Las Vegas into the Aurora home.

  They were living in the home for three days when another family showed up looking to move in. This family had moved from Arkansas to Colorado. When the two families compared their stories, they both realized they had been scammed. Everyone from the landlord to the realtor were scammers.

  It wasn’t too long before the property management company showed up. As property management companies are wont to do, they gave the first family 10 days to vacate the premises or be evicted. The second family didn’t even have that luxury. Now, both families are facing homelessness.

  So, how did the scammers gain access to the home in the first place? Once again, the property management company was probably using a lockbox which contained the keys. Too many realtors never change the code on the lockboxes, leaving them vulnerable to scammers. All a scammer has to do is contact the legitimate realtor and ask for a tour. Since many realtors allow guideless tours, they’ll give the lockbox code to any potential customer, including scammers. Once the scammer has the lockbox code, they’ll use it repeatedly to show the home to their victims.

  As always, the best way to protect yourself against rental scammers is to do as much research about the property as possible. Don’t ask the landlord for proof of ownership, instead contact the county’s tax assessor’s office to find out who the real owner is. Do a Google search on the property’s address to see if there are multiple listings with different rental rates. If there are, the lower priced one is almost guaranteed to be a scam listing. Lastly, never use payment apps like PayPal or Cash App for your deposit. These apps are vulnerable to a number of scams themselves.

  If you want to help the two families taken in by this scam, you can donate to their GoFundMe accounts here and here.