A warning from authorities about property theft scams as they say property theft scams are up now 500% during the past few years.
Your home and property are typically your biggest asset, which makes it a big target for scammers. The FBI warned about property theft scams and how they can start when someone pretends to be the property owner. Jim Dennehy a Special Agent with the FBI says, “The bad actor might send out unsolicited emails to unsuspecting relators.
They want a cash deal within weeks. They’ve sold the land that doesn’t even belong to them. Experts say property theft scams happen in many complex ways, including scammers faking documents as if they’re the real owners. They can reach out to real estate agents to list the property. If the property is sold, a deed is transferred, and the original owners are out of luck having to take the case to court to win their property back. Dennehy says the FBI is alerting real estate brokers and title companies about the property scams too.