by Mike Colpitts 
Land thieves are stealing land in Lee County. Just last week five fraudulent land thefts were attempted, according to authorities.- The Royal Palm Coast Realtors Assocation is warning land buyers to be cautious when considering a land purchase.
- Protect yourself and your money by working with a Realtor with many years of experience who can lead you through the steps to protect your assets.
Land thieves return to Lee County with vengeance, according to the Royal Palm Coast Realtors Association. At least five fraudulent transactions were attempted last week, including an executed contract on an empty parcel of land valued at $250,000.
“There continues to be a rise in fraudulent land listing activity in Lee County,” a statement released by the Realtors board stated. “These scams typically target vacant parcels of land, where owners are being impersonated, push for fast closings, and attempt to secure fraudulent payouts.”
Authorities are investigating the attempted frauds but awareness and diligence are critical to protecting clients and business dealings as land thieves return to Lee County.
Land fraud has had a strong historical foot hold in Lee County, where land thieves attempted land fraud hundreds of times during previous real estate downturns, most recently following the 2008 real estate crash. Land thieves were notorious in Cape Coral in the 1960s when many arrests occurred of fraudsters in land thefts that occurred over newly developed subdivision lots.
Red flags to watch for in listings include significantly below market pricing intended to spark quick action. Aggressive high-pressure tactics on a seller’s behalf, who may also push for fast decisions to list property and push buyers to make fast decisions are also signs of possible land thief interactions.
The tactics are fairly common for quick buck cons, who push for fast decisions, fast money transfers and make signatures without review. The cons are often evasive and provide as little information as possible to get buyers to make a decision, often offering deep discounts on property to get signatures on a purchase agreement.
“Unwillingness to provide proper documentation or inconsistent responses,” are also signs of possible land fraud. Experienced land fraudsters often target inexperienced real estate agents.
Some of the interactions to list parcels of land start over the internet through emails and texts. Fraudsters seldom want to meet in person fearing authorities will get involved quickly. Unusual payment requests through wire transfers to unfamiliar banks and accounts are also signs of possible fraud.
Most of the scams involve vacant land with out of state parties. Some have discrepancies between the legal addresses and official county tax records, especially offshore addresses. Some have mismatched signatures or altered paperwork.
Experienced Realtors usually verify the ownership of land parcels and check seller credentials against county tax records. Less experienced agents are so hungry to get a new listing that they often take listings without confirming ownership.
The local board of Realtors is warning its membership to use caution when taking listings.
“Confirm seller location. Ensure consistency between tax records and seller-provided information.
Insist on personal interaction. For vacant properties, meet in person or via trusted representative.
Engage Title Companies. Rely on established title company verification procedures.”
Veteran title company officers and title agents are always on the lookout for land and title fraud, which they have become accustomed to over the years.