Identity Fraud:

At Ward & Taylor, we do many closings. Like, a lot. One of the benefits of being so plugged into the real estate market is that it allows us to see trends as they are developing – both good and bad. One of the disturbing trends that we have seen is an increase in fraudsters posing as property owners and attempting to sell property that they do not own.

It might go without saying, but as a real estate agent, it is important to know your client. You will be assisting in the purchase or sale process and helping them through an important stage in their life. However, in our interconnected world there is another, less discrete reason, why you should really get to know your client: Identity fraud.

Recently, the Fenwick Island Police Department issued a public alert after being notified that a scammer preyed upon an agent, acting as the owner of vacant land. In reality, the “seller” was a scammer, with no interest in the property, and attempting to take the sale proceeds on a property they do not own.  

As the scammers become smarter, they will inevitably develop new schemes. Therefore, the importance of really getting to know your client cannot be understated!

Stay informed, be prepared, and reach out to your trusted real estate attorney for legal advice. Contact us