Forbes

Here are five of the latest home related scams.

Criminals are impersonating property owners to illegally sell their property. Typically, they’re choosing properties that are unoccupied and potentially even undeveloped land. This means, it can be months or years before the crime is detected. That could occur at a painful or traumatic time for the seller, perhaps due to a job loss or family death.

According to Matt Troiani, National Association of REALTORS® Senior Counsel and Director of Legal Affairs, “The scammers may be getting more sophisticated in using technology, including AI, to identify properties to fraudulently sell and to impersonate sellers.”

Tips: NAR has a tip sheet on its website for spotting red flags and recommended practices. Red flags include property significantly below market rate, cash requirements, no for sale sign at the property, among others. Tips include requesting proof of ownership, verifying the seller’s identity and contact information, using a notary at closing, among others.

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