Question: I was recently contacted by an owner of a vacant lot who would like me to list it for sale. All our communication has been via text or email, so I have never met this individual in person. He would like a very quick sale and is willing to list the property below market value. However, he does not want me to place a ‘for sale’ sign on the vacant lot. This seems unusual…what do you think?

Answer: You may have to get a little more information from the owner to determine if you are actually dealing with the true owner of the property and not being pulled into a vacant lot scam. These particular scams involve a criminal posing as the true owner and attempting to sell the true owner’s property. The criminal is able to obtain detailed property information and the owner’s identity by conducting a search of public records. They will then enlist the assistance of a real estate professional to list the property in an attempt to add a layer of legitimacy to the scheme. The ‘seller’ will not attend closing but will manage to get closing documents executed, typically with a falsified notary. Their end goal is to get the net proceeds and disappear before anyone, including the real owner, knows what has happened.

You have mentioned a couple of red flags: no sign on the property, all communication via phone or email, and listing below market value. You should take some additional steps to determine if you have been contacted by the real owner of the property or an individual posing as the real owner. For example:

• Ask the owner for detailed information about the property and neighborhood that would not be readily available via public records.
• Request an in-person or virtual meeting and request that they provide a clear photo identification at that time (keeping in mind that photo identification documents can also be falsified).
• Request copies of documents that the real owner would have in their records, such as a plat of survey, closing statement from when they purchased the property or a title insurance policy.

For additional red flags and suggested best practices, please review and share our Vacant Property Scams flyer.