A listing agent who gets an email "out of the blue" from a geographically distant owner claiming to want to sell has some risk management strategies.

1. Be suspicious when you get a listing falling into your lap without the distant owner explaining how they contacted the REALTOR® (e.g., "Hey, my friend and neighbor sold 123 Sand Dunes Way with you recently and recommended you to me.").

2. Look up the property on Courthouse Retrieval Service and county websites. Be extra suspicious if the deed was recently recorded because it may be a fake deed. Find out who the deed’s recording lawyer was and call that lawyer to verify it is not a fake deed. Get the owners’ name and contact information here too.

3. Ask the distant owner to send some identification and jump on a Zoom with you. Currently, scammers avoid these issues. Red flags.

4. Ask the distant seller to go to a lawyer in their geographical location that the REALTOR® chooses for identification of the distant owner and closing. Beware when the distant owner is insistent upon using their own notary and lawyer. The REALTOR® can hire their own distant lawyer to work with the distant owner and the distant notary picked by the distant seller and the distant lawyer picked by the distant seller.

5. FOREWARN the distant owner. Use FOREWARN for contact information to verify the owner is selling.

6. Perhaps, talk to neighbors and or the owners association to get contact information to verify the owner is selling and see if they know if the owner might be planning on selling.

7. Use the county tax record contact information to verify the owner is selling.

8. Alert the closing attorneys that you do not know the seller and the seller is distant so be cautious due to vacant land sales scams occurring across the USA recently.

9. Be very careful with the money and wires. Test wire with a small amount? The lawyer handles the wiring instructions, not the REALTORS®. Warn everyone about wire fraud scams. https://screaltors.org/wp-content/uploads/Forms/610.pdf

Posted by: Byron King on 08/08/23 (This information is only accurate as of 08/08/23. You must contact SCR for updates and changes to this information after 08/07/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)

This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.