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Real Estate Scheme Costs a Couple Life Savings
Amy P. Fennell • January 2, 2018
Sources: KUTV.com
and CNN
A fraudster posing as a real estate agent sent a couple an email asking for cash. Now, the couple may lose their entire life's savings.
The Browns, anxious to move into their new home, received an email that appeared to be from their real estate agent and title company. The message asked them to wire the funds. "We were so eager to get everything done in a hurry so we could move," Anne Brown said.
The Browns went to their credit union and followed the instructions they received in the fraudulent e-mail. The transaction went unnoticed for a few days until the real title company asked the couple's real estate agent, Carrie Butterfield, why she had told the Browns the incorrect amount of the wire transfer. "My response was, I never told the Browns to send a wire," said Butterfield.
Police and the FBI are investigating where the wired cash went and if it can be recovered. "We see the view of our dream home slipping away," said Anne. But the couple is sharing the lesson they've learned. "We don't want it to happen to anybody else, if we can help in a way. So, we're willing to swallow our pride," Brown said.
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As previewed last week, NAR is pleased to share the latest consumer guide focused on alternative listing options. This guide covers the role that MLSs play in marketing a home, office exclusive and delayed marketing exempt listing options, and the disclosure required when filing an exempt listing. For additional information and helpful resources on the new Multiple Listing Options for Sellers policy, please check out facts.realtor . As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Alternative Listing Options Navigating Multiple Offers Homeowners Associations Marketing Your Home Seller Disclosures Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover deeds and titles.
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