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Sat, Feb 25, 3:07 PM
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https://www.gstatic.com/images/icons/material/system_gm/2x/arrow_drop_down_black_20dp.png'); background-position: center center; background-size: 20px; background-repeat: no-repeat; background-attachment: initial; background-origin: initial; background-clip: initial; cursor: pointer; padding: 0px; vertical-align: baseline; height: 20px; width: 20px; margin: 0px 0px 0px auto; position: relative; right: 0px; top: 0px; display: flex; opacity: 0.71;" />Be on the lookout for fradulent sellers.
Fradulent sellers are becoming more and more common. These scam artists may call a Realtor to list a property that they don't own, and through the use fake Id's attempt to show they are the seller of record. It's important to remember that fraudsters are adept at disguising their deceptions so that it may be impossible for the customer to recognize them before closing the transaction. Always rely on an Experienced Realtor who will go to great lengths to ensure the property they are selling is indeed owned by the seller of record and not a fraudulent seller.
If a buyer should go all the way through to closing with a fradulent seller, they may end up facing financial losses and other negative consequences as the home they purchased is not legitimate.
When a buyer purchases a home from a fraudulent seller, the legal owner of the home is still the original owner. The fraudulent seller does not have any legal rights to transfer ownership as they have engaged in an illegal transaction. This means that even if all closing documents have been signed The ownership of the home is illegal and not valid in the eyes of the law, so it cannot be transferred to them.
If a buyer goes all the way through to closing with a fradulent seller, they may end up facing financial losses and other negative consequences as the home they purchased is not legitimate including legal fees.
To avoid any possiblity of this happening to you Always rely on an Experienced Realtor who will go to great lengths to ensure the property they are selling is indeed owned by the seller of record and not a fraudulent seller.
I'm Judy Ballard with Illustrated Properties and Christies International Luxury Marketing specialist.
And as always make it a great home buying or selling day.
