REALTOR associations across the country are warning of a seller scam that is happening more frequently.
The scam usually involves a fake seller that tricks an agent into listing and selling a vacant lot that they do not own.
Some warning signs to watch out for include the seller being unable to meet in person and wanting to do everything by email, the seller wanting to list the property below market value to generate immediate interest, the seller quickly accepting a cash offer and be willing to accept substantially less than full price if they can close quickly and the seller provides photos IDs that are barely legible.
View the resources below for additional details:
- Fake Seller/Fake Buyer Scam Alert - Sale of Vacant Lots (from the South Carolina Department of Labor, Licensing and Regulation
- Real Estate Scams - Vacant Properties (from the United States Secret Service Cybercrime Investigations)
- Scams and Safety Information (from the FBI)