subject: Sarasota Homes - Beware Squatting Renters! [print this page] Beware scammers using Trulia to target real estate agents and home sellers in scam.
Last week, I became just another real estate agent caught in this scam. Fortunately, I saw the scam and alerted the closing agent and listing agent before sellers wasted time and money on a sale that wasnt going to happen.
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.
Turns out, many closing agents and house sellers have lost money to this scam.
People selling houses have suffered, spending money to move out in anticipation of a sale.
Real estate agents have paid for inspections, believing theyd be reimbursed at closing.
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 a past customers name. Though this scammers alias was close, Matsubayashi turned out NOT to be a previous customers name.
As with all other realtors mixed up in this scam, all realtors confirmed something similar to the following I received:
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 so its likely they found me there as well.
Scammers use this phone number: 1-416-824-1768
Scammers use these email addresses: edbrown@lawyer.com & seiichiro@asia.com
Scammers ask for real estate agents to send listings of 4 bedroom, 2 bath properties 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 agents full contact information in order to provide $155,000 earnest money deposit in certified funds. If agent requests wire instead of cashiers, 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, typically no buyer agrees to purchase sight unseen. In Florida, however, agents regularly work with people out of state and/or out of country some buy "sight unseen."
In my case, I thought I was working with 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 previouslycomplete 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 moves out of the house (at great expense).
CLOSING AGENT refunds the buyers $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, Closing Agents & Home Sellers. Helping buyers and sellers presents enough challenges today, without having to contend with brazen scammers.
PLEASE dont 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.
Sarasota homes for sale fight scammers with simple solution buyers interested in Sarasota real estate need to open escrow with CASH.
Cashiers checks (i.e. certified funds) are too easy to forge. Please dont be upset if your real estate and closing agent insist on wired funds for your earnest money deposit and/or cash to close. To see the fake certified check and emails these scammers sent me, go now to my blog.
