Tip 13-2011: Agents Beware — Local Real Estate Scam

There is a real estate scam making its way through various local real estate agencies.  A foreign buyer (“Masakazu Ichiro” or some other variation of that name) wants to buy a higher priced property for cash (usually sight unseen).  He contacts a local Realtor for a list of suitable properties and will then eventually contract to buy one of the properties.
The scam then continues as he does not want to wire the deposit money to the Realtor’s account, but instead wants to use a third party to hold the deposit.  The alleged buyer then asks for a recommendation of an attorney to handle the closing and also be the third party holder of the deposit.  Finally, the buyer wants wiring instructions so he can wire the deposit to the third party’s (attorneys) escrow account.
Do not fall for this scam!  Do not waste your time dealing with this “person”. The alleged buyer only wants information regarding the escrow account.  He does not intend to buy a house, he’s just trying to steal the law firm’s identity, which according to the bank he can then use to create bogus checks.  Once again, if it seems to good to be true (a high end cash buyer who does not need to see the property), it is.  Be careful out there!
Please contact us if you have questions or need legal advice.

Senior Partner

William D. Tucker, III
Tucker Griffin Barnes P.C.
Charlottesville, Virginia
434-973-7474
Tucker@TGBLaw.com
www.TGBLaw.com

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About Charlotteville Personal Injury Attorney

Personal Injury attorney helping people injured in automobile, truck or mortorcycle accidents.
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