09/08/2023
Great job, Jennifer, for your diligence in exposing these scammers!
We have a remarkable story to share with you, featuring Jennifer, a Senior Real Estate Paralegal with Mozley, Finlyson & Loggins LLP. who recently encountered a potential real estate scam. Joanna Jones, FNT Georgia’s State Manager immediately wanted to hear Jennifer’s story and her red flags to share with you! Here is the interview with Joanna and Jennifer.
Jennifer: My law firm was handling a closing for an Investor Buyer on a vacant lot, and the closing date was just a week away. This immediately raised concerns about possible fraud.
Joanna: That does sound concerning. What did you do next?
Jennifer: Well, I knew the official title search would take too long given the tight timeline. So, I decided to conduct an online title check to spot any obvious issues. To my surprise, I found that the sellers, who claimed to be from California, actually lived right next door to the property.
Joanna: That's a significant red flag. What was your next step?
Jennifer: I had a gut feeling that something was off. So, I went on a deep online dive to gather more information. I searched social media and tried reaching out to the supposed sellers but received no response. I found the owner’s daughter in-law on LinkedIn and sent her a message with no response. At this point, the fraudster is pushing for the mail away docs (going to be executed in CA). Since I did not want to use the phone number or email that I was provided on the seller’s information sheet I continued my investigation and contacted the owner’s restaurant. I left an urgent message with the hostess for the owner to call but still no response.
Joanna: It must have been frustrating not getting any replies. How did you continue your investigation?
Jennifer: Despite the pressure to rush the mail-away documents to California, I refused to use the contact information provided on the seller's information sheet. Instead, I contacted the local community bank where the true owners had a mortgage on their neighboring property. Knowing the bank rep could not give out any personal information I told her my side of the story and explained that the bank customer appears to be being defrauded.
Joanna: What did the bank reveal?
Jennifer: The bank rep contacted the true owners of the property. The bank confirmed my suspicions: the true property owners had no intention of selling their property. It was indeed a scam. The true owners got back to me right away.
Joanna: So, thanks to your persistence, the scam was averted. What happened next?
Jennifer: Once we had concrete evidence, our firm's attorney informed all parties involved that the closing would not proceed. It was a relief to know that we had prevented a potentially disastrous situation.
Joanna: That's an impressive story of trust in your instincts and thorough research. What's your key takeaway from this experience?
Jennifer: Trust your gut feelings. If something doesn't seem right, take the time to investigate further, even when pressure mounts to close the deal quickly. It's better to be safe than sorry.
Joanna: Thank you, Jennifer, for sharing this insightful experience. Your determination and diligence saved the day, reminding us all to stay vigilant.
Jennifer: I hope this story can help others avoid falling victim to similar scams.
