The Rising Issue of Vacant Land & Seller Impersonation Scams
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Seller impersonation fraud continues to be a significant concern in the real estate industry, affecting both agents and clients alike. Despite ongoing efforts to combat these scams, they persist as a growing threat, with recent data indicating alarming trends. Seller Impersonation Fraud: A Persistent Threat In 2023, a troubling 28% of title insurance companies reported encountering attempts of seller impersonation. This nefarious practice didn’t diminish in 2024 either, with 19% of companies facing such attempts in April alone. This persistent threat underscores the need for heightened awareness and proactive measures to safeguard against fraud. Learn More about this trend here: ALTA -Seller Impersonation Fraud Attempts Increase One notable case highlighted the severity of these scams when a fraudulent seller impersonation led to an unsuspecting buyer unwittingly initiating a construction project on land that was never legitimately for sale. The ramifications can be financia...