MADISON, Ala. — Scammers are trying to make a quick buck by listing homes that are off the market and telling interested buyers- to wire them money for the deposit.
If you're in the market to buy a home - you may want to listen up.
Renee Tripp, co-owner of Twins Realty, says, "What's happening is we had a client that called me about a week or so ago and she said that there were some agents there to show her house and to her surprise her house was not on the market. I said as much as I would've love to have listed it, I didn't place the home on the market and neither had she.
Tripp sold her client a home a few years ago - and to their surprise it was listed on Zillow again - but this time it wasn't actually for sale. The fake listing has received over nine hundred page views and it's gaining popularity.
"She had numerous agents come to her door they all insisted that they had made an appointment with the owner. Who happened to be somebody with an out of state phone number and they had been directing agents to the house to go ahead and show it," said Tripp.
The scammer will collect deposits usually using wire transfer - and after that - it's unlikely that the buyer will ever see their money again.
This is the latest example of real estate fraud - and it won't be last attempt to swindle buyers out of thousands - but there are ways to avoid this.
Tripp added, "I think a very good way is to work with a real estate agent. In that case, you're sending your money to basically a real estate company's protected escrow account so your money is safe. Another way is if you're purchasing a for sale by owner you definitely want to hold your money in escrow with an attorney. Never send the seller funds directly."