Fraudulent property sales are a growing concern nationwide. Scammers draft a fraudulent title before disappearing with the money, leaving the owner and buyer to clean up the mess. With so many second homes, South Lake Tahoe could be an attractive target for these scammers. This post will explain the fraud and offer tips to protect your South Lake Tahoe property.
Lake Tahoe Real Estate Market Watch
As of October 2024, the median number of days to sell a home in South Lake Tahoe was 73. However, Lake Tahoe real estate trends are constantly changing. Contact Michelle Keck for help buying and selling homes in the Lake Tahoe region.
Protecting Your South Lake Tahoe Property from Fraudulent Sales
Fraudsters target properties that are not the owner’s primary residence. They collect information about the owners and the property online. Using this information, they create fake IDs and fraudulent documents to pose as the real owners.
Scammers avoid in-person meetings with buyers and real estate professionals, preferring to communicate via email and text. They’ll list properties well below the market value to attract buyers quickly. Scammers will also only go for cash buyers for faster sales and an easier way to escape with the money. This combination of anonymity, technology, and speed enables them to execute the sale before the actual owner knows what’s happening.
What can you do to protect your property? Here are some tips.
Guard Your Personal Information
Protecting your personal information is critical to preventing these sales. Avoid sharing sensitive details on social media or public forums, like your birthday or address. Refrain from discussing your Lake Tahoe property online or its status as it concerns debt. Secure your email and other online accounts with strong passwords and 2FA.
Keep an Eye on Your Property
Visit your property regularly to look for suspicious activity, such as lock boxes, “For Sale” signs, or even people working there. If you can’t visit, ask a trusted friend who lives nearby to check on the property. Review public records associated with your property through the county recorder’s office to catch any unauthorized changes.
Sign Up for Title Alerts
Local governments are taking notice and offering services to protect property owners. Many counties now provide title alerts to inform owners of activity on the property title. Sometimes, it might be a letter or an email alert. Contact the El Dorado County clerk to inquire about getting title alerts for your property.
If you suspect fraud, it is essential to act quickly. Report the fraud to local law enforcement and collect all relevant documents. You’ll also likely need to contact a real estate lawyer to address the legal issues surrounding ownership.
Find Your Dream Lake Tahoe Property Today!
Are you ready to elevate your lifestyle with a Lake Tahoe property? Contact Michelle Keck for exceptional service and local insights. She can help you achieve your goals with Lake Tahoe real estate.
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