@Isobel Archer You should read up about these scams.
The last thing consumers should worry about is being scammed when they buy or rent a home, or refinance a mortgage. Unfortunately, criminals are getting more creative in how they target consumers, leading to major financial headaches for their unsuspecting victims.
In 2018 alone, 11,300 victims reported real estate or rental fraud, resulting in losses of more than $149 million, according to data from the Federal Bureau of Investigation’s Internet Crime Complaint Center.
Many people are too embarrassed to file complaints, making it harder to catch the scammers who repeatedly victimize unwitting homeowners and home buyers, says Melinda Opperman, executive vice president of community outreach and industry relations with Credit.org — a nonprofit credit counseling agency and member of the National Foundation for Credit Counseling, or NFCC. https://www.bankrate.com/mortgages
/avoid-real-estate-scams/
It’s unfortunate but true: Scammers, posing as would-be cash buyers, are out there. And these all-cash home sale scammers are hoping to swindle sellers — and their agents — out of their hard-earned cash.
Even if the details of the scams differ, one fact is common to them all: These cash buyers don’t really want to buy your home for sale in Sarasota, FL, or Philadelphia, PA. But they’ll work really hard to make you believe they do.
Scam #1: The buyer
The scenario: You get an email from a foreigner who wants to relocate to the United States. He might even explain why. This buyer says he saw your property on Trulia, loves it, and would like to buy it sight unseen … and for cash. He then offers to send you a cashier’s check. Usually, this scammer requests that you retain an attorney to handle the finances and asks you to recommend one. You’ll receive all the pertinent information: the person’s name, phone number, address, and when he would like to close. Unfortunately, you’ll never get the cash, and you might end up parting with some of yours.
If a cash offer seems too good to be true, it could be. Fortunately, there are warning signs to watch for.
https://www.trulia.com/blog/be-wary-of-your-all-cash-home-sale/#
Oliver Ellerbe thought he had found the perfect home for his aging parents.
The brick house in Katy, Texas, near Houston, was just a five-minute drive from his own home. At the time, his mother and father lived more than an hour away, near the city of Conroe. The distance began to pose a serious problem when his father’s liver cancer spread through his body and left him unable to move about on his own.
“It became very difficult,” Ellerbe, 44, said. “My wife and I were interested in bringing him closer to us.”
At a real estate auction, Ellerbe, who works in the petroleum industry, made the winning bid on the house: $150,050. The moving plans began.
A few days before the scheduled closing in February 2015, Ellerbe received an email, seemingly from his real estate agent at the firm Keller Williams, notifying him that the wiring instructions had changed. Soon after, he drove over to his bank and sent the $150,050 to the new bank address.
Then he left for a hunting trip with clients. “Nothing felt off,” he said.
https://www.cnbc.com/2019/10/05/homebuyers-are-falling-for-this-scam-some-lose-their-life-savings.ht...
It is highly unlikely what happened in your scenario is any different than what has been going on for years. Scammers have more reason to stay on their toes. We're in a pandemic. Caveat Emptor....
Everything I've ever read about these things also states it's as bad as identity theft. Buyers have little to no recourse.
A Negative Mind ~ Will give you a Negative Life
Sign in 
Blogs & Forums
