Police in Southampton, New York, are warning realtors and homeowners to be cautious of scammers trying to sell fake vacation rentals. These fraudsters are targeting exclusive properties they do not own in the Long Island area, which is a popular vacation spot with many second homes. This type of scam could also occur in other vacation destinations where real estate attorneys may not be involved in transactions.
According to local police, criminals are pretending to be property owners and contacting real estate agents to help them sell lien-free, vacant land. They are able to deceive potential buyers by accepting funds transferred to an out-of-town account. This scam has become more prevalent in the area, and real estate agents are advised to be vigilant.
Real estate agent Zachary Scher mentioned that these scammers are often easy to identify because they call from out-of-state numbers, have limited information, and seem eager to sell the property quickly. Legitimate sellers typically take their time to research agents and are not in a rush to make a deal. Unusual behavior, such as only communicating through text or email and avoiding face-to-face meetings, should raise red flags.
Scammers target properties with no mortgages and use fake identities and powers of attorney to deceive title companies without the homeowner’s knowledge. This fraudulent activity can take years to rectify, but homeowners with title insurance can recover their homes. It is crucial for real estate professionals to verify sellers’ identities by asking for multiple forms of identification, holding face-to-face meetings, and conducting thorough research.
As the summer vacation season begins, police are warning visitors to be cautious of online scams offering products that scammers do not actually own. Similar fraudulent activities have affected homeowners whose properties were falsely listed on rental apps like Airbnb and VRBO. It is essential for real estate agents and homeowners to take extra precautions to avoid falling victim to these scams.
In conclusion, it is important for individuals involved in real estate transactions to remain vigilant and verify the authenticity of sellers to prevent falling victim to scams. By taking proactive measures, such as conducting thorough background checks and requesting face-to-face meetings, potential buyers and real estate professionals can protect themselves from fraudulent activities in the market.
