Internet real estate scam

A Vernon couple selling their home via the internet found out just in time that the potential buyer was a scam artist. The people were contacted by a foreign buyer via email from a “for sale by owner site,” where the property was listed.

The first contact purportedly from a man named “Paul” in Manchester England, seemed promising with an indication he would have a Realtor or lawyer check out the property.

The next email received by the couple, who don’t wish to be identified, indicated the buyers didn’t want to deal with an agent after all and that he and his wife had agreed on the price and were prepared to buy the home based on the pictures posted online.

The email insisted on having details of the sellers “Equity Line Credit Account” so they could place a deposit, and it was signed “Bob” instead of “Paul”.

The name change prompted the sellers to contact the Better Business Bureau.

“Upon further examination the emails appear to be similar to other scam attempts likely originating from Central Africa,” says Kevin Rothwell with the Better Business Bureau.

“Hallmarks of these include poor grammar and spelling and a very quick move to get banking information.”

Due to the sub prime mortgage crisis in the United States foreign scam artists are looking for desperate sellers in North America, willing to turn over sensitive financial details without asking too many questions.

“These scams turn on greed and desperate circumstances, fortunately this time neither came into play and the people avoided what could have been a costly mistake,” indicates Rothwell.

Consumers concerned about possible scams can contact the BBB at 888-803-1222 or www.bbb.org.