Vacant Land Scam Alert
One increasingly prevalent scheme involves fraudsters posing as property owners to sell vacant land they don't actually own. The scam typically begins with the fraudster conducting a public records search to identify vacant land and obtain the rightful owner's information.
Fraudsters typically target properties with no mortgages so the scam can move forward without having to alert a lender or obtain a mortgage payoff. Posing as the property owner, the fraudster contacts multiple real estate agents until one agrees to list the property.
The fraudster is usually well-prepared with fake identification documents containing the real owner's address, forged property records, and even counterfeit notary stamps and seals. They often push for a fast sale, are willing to accept offers below market value, and provide reasons for not being available in person.
What Can You Do:
Be cautious when a seller is unable to meet in person.
Question below market, all-cash sales with urgency.
Verify the seller's identity.
Carefully review all documents and notary acknowledgments for signs of fraud.
Register for property fraud alerts through your county's official website.
This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client relationship.
For more information on this and other topics, please contact Kevin via any of the channels listed below:
📧 kevin@kmckernan.com | 📞 718-317-5007