Have you ever been deceived or misled by someone in the land business?
If so, what happened?
More importantly, what were the ‘red flags’ you wish you had noticed and paid attention to?
Please be as specific as possible.
Note that I’m not asking about problems with the property. I’m asking about problems with the property owner, the seller, or the agent who sold you the deal.
In other words, people problems.
When you encounter someone who has intentionally tried to deceive or mislead you, what were some dead giveaway signs that should have caused you to walk away before it’s too late?
Seller would not answer questions such as deeded access, why selling, why name on tax bill was different than Deed at recorders office. I pulled a TLO report and found negative information such as BK and mechanic liens on his home. Asked for a copy of drivers license which he refused. I walked before it was too late.
I’ve encountered significantly more ‘owners’ who are posing as the property owner over the past 2 years. It’s gotten to the point where self-closings are a no-go. Even though I know how to do them on my own, there’s just too much risk and margin for error, especially when there are so many people in my market who are trying to scam others.
How do I figure out when I’ve got a scammer on the line? It’s usually when they refuse to get on the phone with me or they insist on using their special notary, or sometimes even their title company (yes, some of them even create their own fake title company websites).
If I catch even the slightest whiff that someone isn’t being completely transparent with me, I’ll walk from the deal. At a bare minimum, the deal must be closed by a title company. If a mistake is made, I want a title insurance policy to guarantee the title was clear. I will not take that liability on myself anymore.