How to Protect Yourself and Others Involved
Seller Impersonation Fraud: Seller impersonation fraud involves the deceptive practice where an individual or group of individuals pretend to be the property owner when marketing to a potential buyer. The fraudster undertakes the identity of a genuine seller to gain the trust of unsuspecting realtors, buyers, and closing agents by establishing fake profiles, listings, or websites that closely resemble those of the legitimate property owner (s). The fraudster sweeps the web for publicly available information related to the seller and may steal photos, forge deeds, or alter contact information, to influence and convince the unsuspecting parties involved. This more commonly occurs on vacant lands, with absentee or foreign owners located elsewhere. For this reason, heightened scrutiny is required when dealing with such scenarios. (See The Fund Concept-January 2024 Vol 56)
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