One of many fastest-growing actual property scams targets vacant or unoccupied homes on the market.
It begins with somebody forging paperwork to promote a home they don’t personal. They listing a home beneath market worth and settle for a fast provide – with a choice in the direction of money consumers – to steal the cash from the sale.
Put your guard up if a vendor:
- Tells your agent they solely need a money purchaser.
- Doesn’t present up for closing or asks to signal paperwork electronically.
- Asks for a distant notary at signing and desires to make use of their very own notary.
- Asks that the cash from the sale go on to them.
Some suggestions:
- Go to the home you need in particular person. Solely the true home-owner may give your agent the important thing.
- Ask your agent to make use of a trusted in-person notary at closing.
- Purchase title insurance coverage. Your actual property agent will probably suggest it and your mortgage firm will in all probability require it. Title insurance coverage protects you from issues with an possession title.
Report fraud to the Texas Attorney General, the Federal Trade Commission, and your native police.
