Browsing online real estate listings? Be sure to protect yourself from seller impersonation fraud!

It’s now possible to browse through online real estate listings to your heart’s content, but it shouldn’t be surprising that there are plenty of unscrupulous individuals who are willing to fleece you out of your down payment and then disappear without a trace. Fortunately, it’s easy to protect yourself by taking a few basic precautions. Cash-strapped sellers might list properties below their market value in order to make a quick sale, but you should always remember that if a listing seems “too good to be true,” it likely is!

First National Title (FNT) is Arkansas’ largest independent title company, and you’ll always be able to work directly with seasoned professionals in or near your community. We take your privacy and security very seriously, and offer title insurance products from highly rated underwriters to help you protect your investment! Here are a few frequently asked questions about seller impersonation fraud, and we’re always a phone call away if you have any additional questions!

What is seller impersonation fraud? Criminals can be quite sophisticated in their mission to separate you from your money, including creating bogus listings for properties they don’t actually own. Even if the seller has a professional-looking website and sounds good on the phone, you should always be highly suspicious of any property listed at a price substantially below comparable properties in the area.

How can I confirm that a property listing is legitimate? Buyers and sellers don’t always meet at closing, but you’ll want to confirm that the property exists and the seller is a real person before making an offer on any property and especially an out-of-state property. You can confirm the seller’s identity by a reverse phone number search or sending an introductory letter to both the property address and the mailing address listed on the tax bill.

How can I protect myself? Using a “code word” can be very helpful in conversations with the seller, your lender, and your title company, before exchanging any personal information over the phone. You should also be extremely cautious if you receive any last-minute communications indicating a change in your wire transfer information.

If you have any additional questions about seller impersonation fraud or real property transactions, contact us online or at any of our 26 convenient Arkansas locations listed below!