Vacant lot scams. There has been a significant increase in the number of fraudulent sales of vacant lots. Commonly these lots are free of a mortgage and the owners live outside of the U.S. Fraudsters posing as the seller will contact a real estate agent and ask for assistance in finding a buyer for a quick sale. A contract is entered into and the closing is referred to a [title company]. All communication with the seller is via email. No phone calls! The closing documents will be handled as a “mail away” and the seller often says they will be signing in front of a notary at the U.S. Consulate or Embassy. These are very common! Be on the alert for these situations.
Excepts taken from Melissa Jay Murphy Executive Vice President, Chief Legal Officer, and General Counsel of the Attorney Title Fund Article 4/18/2022
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