District attorney Dan Dow has urged all real estate professionals and undeveloped land owners to beware of a new real estate scam.
The scam has been on the rise in San Luis Obispo county by impersonators contacting local real estate agents to sell undeveloped property.
A release by the San Luis Obispo county district’s attorney office says the impersonators are likely a part of an organized crime group. The impersonators identify undeveloped real estate, often vacant lots or rentals, and contact a real estate agent posing as the property owner to sell the property. The criminal quickly accepts an offer, and requests remote notary signing and providing falsified documents to the title company. All communication is typically done electronically, and not in person.
As part of prevention, the office of the district attorney is asking all real estate sales professionals to stay alert, and for undeveloped property owners in San Luis Obispo county to routinely search the internet to see if their property is being listed for sale.
