Real Estate Scam Targets Real Estate Agents & Home Sellers!
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Mike Payne
Mar 28, 2013, 12:50:02 AM3/28/13
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Mike Payne
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Article Title: Real Estate Scam Targets Real Estate Agents & Home Sellers!
Author: Mike Payne
Word Count: 824
Article URL: http://www.isnare.com/?aid=559347&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=559347
Easy Publish Tool: http://www.isnare.com/html.php?aid=559347
*********************** ARTICLE START ***********************
Beware scammers using Trulia to target real estate agents and home sellers in scam.
Last week, I become just another real estate agent caught in this scam. Fortunately, I saw the scam and alerted the closing agent and listing agent before any more time and money was lost.
Unfortunately, several real estate agents throughout the United States were not as lucky. Within the last few days of publishing a SCAM ALERT, I have heard from real estate agents who weren't as lucky.
Worse, closing agents and house sellers have lost money to this scam.
This scam NEVER should cause loss of money, though it has.
This scam NEVER should cause real estate agents or closing agents (including real estate attorneys) to lose time or money, though it has.
At this time last week, I thought I was working with a previous customer named Seiichiro Matsubayashi whom I had helped purchase a home a few years ago.
That's whom I *thought* had contacted me. His name was too close to this scammer's alias...too close I didn't confirm last name until some damage had occurred.
This was my big mistake.
I did not immediately confirm past customer�s name. Though this scammer�s alias was close, �Matsubayashi� turned out NOT to be my previous customer�s name.
As with all other realtors mixed up in this scam, all realtors confirmed:
� Scammers mention Trulia in the initial email to them asking for help in buying a property. In my case, there was no mention of Trulia, though I have a Trulia account.
� Scammers use this phone number: 1-416-824-1768
� Scammers use these email addresses: edb...@lawyer.com & seii...@asia.com
� Scammers ask for listings of 4 bedroom, 2 bath properties to be provided in $400,000-$500,000 price range.
� Scammers provide bank statement with $3.4MM, drawn off CIBC Bank in Canada as proof of funds.
� Scammers ask for closing agent�s full contact information in order to provide $155,000 earnest money deposit in certified funds. If agent requests wire instead of cashier�s, scammer indicates �Mr. Matsubayashi� temporarily is out of Canada and not able to execute a wire through his appointed law firm, Cassells Brock.
� Scammers request quick close with REALTOR paying out of pocket for required inspections � to be reimbursed later (of course).
Naturally, you wonder what house hunter in his right mind offers to purchase a property sight unseen. You're right, typicallly no buyer agrees to purchase sight unseen. In Florida, however, agents regularly work with buyers "sight unseen."
Further, all the while I thought I was hearing from a previous customer who did purchase and whose Asian assistant managed all communication with me.
Similarly, at that time I never talked with or met �Mr. M."
As crazy and unnatural as it seems to be contacted off your website and given terse instructions to draw up purchase paperwork without negotiations, that is what I experienced previously�complete with hefty earnest money deposit provided as certified funds, not a wire.
Sadly, some realtors contacting me about this same scam perpetrated on them claimed the closing agent and realtor never saw the scam until after:
� SELLER actually moved out of the house (at great expense).
� CLOSING AGENT refunded the buyer�s $155,000 when the buyer consummates the scam by canceling the purchase and demanding his $155,000 be refunded. Apparently, some closing agents do NOT demand wired funds to open & close a file. Apparently, some closing agents do NOT require �false funds� issued as certified checks to clear before (i.e. 10 days) before issuing refund on cancellation.
� REAL ESTATE AGENT wastes time and money (in some reported cases).
You see, real people (real estate and closing agents & house sellers) are really being hurt across the United States by this scam targeting Real Estate Agents (apparently through Trulia), Closing Agents & Home Sellers. Fortunately, I confirmed the last name of my previous customer, but not quickly enough. In my case, I'd drawn up all paperwork, met with list agent and Seller who in turn were ecstatic to be selling at full list in a depressed Sarasota, Florida, market.
PLEASE don�t allow anyone you know (including real estate agents, house sellers, real estate attorneys & title agents) to fall for this real estate SCAM targeting HOUSE SELLERS throughout the United States.
Already, real estate agents, closing agents & property sellers throughout the country are challenged enough to SELL houses without having to face scams. To see detailed chronology of this scam, go now to Sarasota Real Estate SCAM Alert! For more specific images and details regarding this scam spreading throughout US like a virus, go to my blog (see below).
About The Author: Sarasota Realtor Mike helps homeowners avoid foreclosure. Mike and his team also help buyers and sellers avoid costly mistakes as property values drop and 30-50% off 2006 "bubble" prices are not the bargains they appear to be. Contact me now at 941-914-9980 or http://www.sarasotahomesforsalenow.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=559347
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Mike Payne
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=559347
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=559347
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Real Estate Scam Targets Real Estate Agents & Home Sellers!
Author: Mike Payne
Word Count: 824
Article URL: http://www.isnare.com/?aid=559347&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=559347
Easy Publish Tool: http://www.isnare.com/html.php?aid=559347
*********************** ARTICLE START ***********************
Beware scammers using Trulia to target real estate agents and home sellers in scam.
Last week, I become just another real estate agent caught in this scam. Fortunately, I saw the scam and alerted the closing agent and listing agent before any more time and money was lost.
Unfortunately, several real estate agents throughout the United States were not as lucky. Within the last few days of publishing a SCAM ALERT, I have heard from real estate agents who weren't as lucky.
Worse, closing agents and house sellers have lost money to this scam.
This scam NEVER should cause loss of money, though it has.
This scam NEVER should cause real estate agents or closing agents (including real estate attorneys) to lose time or money, though it has.
At this time last week, I thought I was working with a previous customer named Seiichiro Matsubayashi whom I had helped purchase a home a few years ago.
That's whom I *thought* had contacted me. His name was too close to this scammer's alias...too close I didn't confirm last name until some damage had occurred.
This was my big mistake.
I did not immediately confirm past customer�s name. Though this scammer�s alias was close, �Matsubayashi� turned out NOT to be my previous customer�s name.
As with all other realtors mixed up in this scam, all realtors confirmed:
� Scammers mention Trulia in the initial email to them asking for help in buying a property. In my case, there was no mention of Trulia, though I have a Trulia account.
� Scammers use this phone number: 1-416-824-1768
� Scammers use these email addresses: edb...@lawyer.com & seii...@asia.com
� Scammers ask for listings of 4 bedroom, 2 bath properties to be provided in $400,000-$500,000 price range.
� Scammers provide bank statement with $3.4MM, drawn off CIBC Bank in Canada as proof of funds.
� Scammers ask for closing agent�s full contact information in order to provide $155,000 earnest money deposit in certified funds. If agent requests wire instead of cashier�s, scammer indicates �Mr. Matsubayashi� temporarily is out of Canada and not able to execute a wire through his appointed law firm, Cassells Brock.
� Scammers request quick close with REALTOR paying out of pocket for required inspections � to be reimbursed later (of course).
Naturally, you wonder what house hunter in his right mind offers to purchase a property sight unseen. You're right, typicallly no buyer agrees to purchase sight unseen. In Florida, however, agents regularly work with buyers "sight unseen."
Further, all the while I thought I was hearing from a previous customer who did purchase and whose Asian assistant managed all communication with me.
Similarly, at that time I never talked with or met �Mr. M."
As crazy and unnatural as it seems to be contacted off your website and given terse instructions to draw up purchase paperwork without negotiations, that is what I experienced previously�complete with hefty earnest money deposit provided as certified funds, not a wire.
Sadly, some realtors contacting me about this same scam perpetrated on them claimed the closing agent and realtor never saw the scam until after:
� SELLER actually moved out of the house (at great expense).
� CLOSING AGENT refunded the buyer�s $155,000 when the buyer consummates the scam by canceling the purchase and demanding his $155,000 be refunded. Apparently, some closing agents do NOT demand wired funds to open & close a file. Apparently, some closing agents do NOT require �false funds� issued as certified checks to clear before (i.e. 10 days) before issuing refund on cancellation.
� REAL ESTATE AGENT wastes time and money (in some reported cases).
You see, real people (real estate and closing agents & house sellers) are really being hurt across the United States by this scam targeting Real Estate Agents (apparently through Trulia), Closing Agents & Home Sellers. Fortunately, I confirmed the last name of my previous customer, but not quickly enough. In my case, I'd drawn up all paperwork, met with list agent and Seller who in turn were ecstatic to be selling at full list in a depressed Sarasota, Florida, market.
PLEASE don�t allow anyone you know (including real estate agents, house sellers, real estate attorneys & title agents) to fall for this real estate SCAM targeting HOUSE SELLERS throughout the United States.
Already, real estate agents, closing agents & property sellers throughout the country are challenged enough to SELL houses without having to face scams. To see detailed chronology of this scam, go now to Sarasota Real Estate SCAM Alert! For more specific images and details regarding this scam spreading throughout US like a virus, go to my blog (see below).
About The Author: Sarasota Realtor Mike helps homeowners avoid foreclosure. Mike and his team also help buyers and sellers avoid costly mistakes as property values drop and 30-50% off 2006 "bubble" prices are not the bargains they appear to be. Contact me now at 941-914-9980 or http://www.sarasotahomesforsalenow.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=559347
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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