As you protect your home from the elements, don’t forget to safeguard it from fraudsters too. Let's dive into the latest scam news from Ohio, where fake real estate listings are on the rise. It’s time to ensure your property remains yours!
The Real Estate Scam Threatening Homeowners
Ohio’s top real estate experts are sounding the alarm on a new wave of scams involving fake real estate listings. Here’s what’s happening: Scammers are attempting to sell properties they don’t own or forging documents to transfer deeds fraudulently.
A Real-Life Example
Christina Hronek experienced this nightmare firsthand in Lorain County. While settling an estate, she discovered that five undeveloped acres of land, valued at $120,000, had been fraudulently sold for just $20,000. The deed showed a signature from the deceased property owner dated six months after his death – clear evidence of fraud.
The Mechanics of the Scam
- Fake Documents: Scammers create fake deeds with forged signatures.
- Complicit Notaries: Some notaries, either through incompetence or unethical behavior, facilitate these fraudulent transactions.
- Targeted Properties: The most likely targets are properties owned outright with no mortgage, often belonging to seniors.
How to Protect Your Property
Property Fraud Alerts
Sign up for property fraud alerts with your county recorder’s office. These alerts notify you if any documents with your name are processed, helping you catch fraud early.
Use Attorneys for Notarization
Consider having an attorney act as the notary for real estate transfers. Attorneys are notaries and face severe consequences for engaging in fraud, making them a more secure option.
Legislative Action
Ohio is taking steps to combat this issue with Senate Bill 94, which, if signed into law, will allow county recorder offices to accept digital documents. This change could make forgery more difficult and add an extra layer of security.
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