Tracey Reynolds, Attorney at Law

10/23/2024

As I have researched and studied fraud scenarios, I have found the biggest threat is the client obtaining fraudulent wiring instructions and acting upon them. This is KEY to understand: Most attorneys use secure portals, secure email to share wiring instructions and have insurance in place as well however there is NO SAFEGUARD/NO INSURANCE in place for the client receiving and acting on instructions sent from a fraudster, and agent nor the attorney can stop the fraudster from sending theses emails.

Scheme Example:
A homebuyer is ready to close on their property. After the closing details are finalized and the homebuyer is provided their bottom line number, they receive an email just before closing: "URGENT : New Instructions For Wiring Your Closing Funds." or simply receive wiring instructions appearing from the attorney's office. The email will likely look authentic, come from a similar email address to match the agent's email or the attorney's office email and include a personal email signature. The client, in being eager to have closing go as planned, acts on the fraudulent instructions.

What to do:

1. Ask the attorney's office how the homebuyer will receive the wiring instructions which should be from a secure portal.
2. Direct the homebuyer to verify the wiring instructions by calling the attorney's office via a telephone number they obtain from an independent source other than the instructions: example: Google/website.
3. Educate the homebuyer that - URGENCY is a sign of fraud. Any urgent act should cause the homebuyer to STOP and think - call their attorney's office.

10/16/2024

ALERT: Vacant lot scams are increasing at an alarming rate and becoming more sophisticated. This past year, our office detected 2 fraudulent sellers after receiving the contract for sale. Both were vacate lot properties with no mortgage.

Scammers research the public records targeting vacant parcels of land and properties without a mortgage. The scammer will then pose as the landowner asking a real estate agent to list the property below market value.

Red Flags:
The “seller” requests to sell a vacant property for less than its fair market value.
The “seller” only communicates electronically.
The “seller” typically requests a remote closing using a remote notary which also will be fraudulent.

Helpful Suggestions:
1. Verify Seller Identities: Ask for Seller identification. Always ensure that the identity of the seller is verified through multiple channels. Do not rely solely on email communications or electronic documents. The South Carolina Realtors Association is now providing complimentary prospect intelligence with FOREWARN – instant identity, criminal, and property verification.

2. Use Secure Communication Methods: Conduct sensitive transactions through secure, encrypted communication channels.

3. Scrutinize Documents Thoroughly: Be vigilant in examining all documents related to the transaction. Look out for any inconsistencies or signs of tampering. We have seen cases where the fraudster obtained a driver's license listing the County Tax Office mailing address for the property owner, used a fake notary service and actually communicated with the attorney's office as the Seller via telephone calls in addition to the common trend of emailing only.

10/09/2024

Did you create or register a company in the United States this year? You may have a federal filing deadline approaching. Learn more: https://fincen.gov/boi

For companies with simple ownership structures, reporting beneficial ownership information to FinCEN can take under 20 minutes. Learn more about this new federal requirement and securely file your company’s report. https://fincen.gov/boi

10/02/2024

Small business owner? Your company may need to comply with a new federal filing requirement. Learn more about beneficial ownership reporting: https://fincen.gov/boi

09/27/2024

Attention York County Homeowners

The 2024 York County tax invoices are now available online at https://onlinetaxes.yorkcountygov.com/taxes #/.

In reviewing your invoice, it is essential to be aware of the exemptions available to homeowners in York County. One of the most significant exemptions is the 4% primary residence exemption. You can find more information regarding property tax exemptions on our website: https://www.threynolds.com/resources/property-tax-info

If your tax invoice will be paid through your lender escrow account, review for accuracy. If you will be paying the invoice directly, the amount due is late on 01/16/2025. Remember if you purchased your property this year, the tax invoice will will be released in the name of your seller c/o your name. This is the normal process, and the seller's name will not appear on subsequent yearly invoices.

If you have any questions about your property tax invoice or exemptions, feel free to reach out to our team.

09/26/2023

2023 Property Tax Notification: York & Lancaster County

Attention property owners:
• Property Tax Details: The 2023 property tax amounts for York and Lancaster County are officially listed online. Click the following links to access and review your tax invoice. https://onlinetaxes.yorkcountygov.com/taxes #/ https://mylancastersctax.org/taxes.html #/
• Escrow Account Holders: If your lender manages your tax bill via your escrow account savings, your primary responsibility is to ensure the accuracy of the invoice. Payment will be processed by your lender.
• Residential (4%) Exemption: Property owners using their property as their primary residence should apply for the 4% residential exemption if the application has not already been completed.
• Homestead Exemption: Residents who have lived in the state for a minimum of 1 year and were 65 years or older as of 12/31/2022 are eligible for the homestead exemption.
For detailed criteria and application procedures for these exemptions, kindly refer to our website at threynolds.com under the 'resources' section.
• Note for 2023 Property Purchasers: Invoices for properties purchased this year will be issued in the seller’s name, care of (c/o) the new homeowner.

06/25/2022