newsreal estate agents beware if seller is looking to sell land for fast cash

Real estate agents beware if seller is looking to unload land for fast cash

virginia realtors logoAcross Virginia, and in neighboring states, real estate licensees are seeing a sharp increase in scams involving fraudulent buyers and sellers.

In the latest scam, criminals are contacting real estate agents to list properties they do not own. Typically, the criminals are looking to sell properties that do not have a mortgage – commonly in the form of vacant lots – below market value, for cash, and quickly.

By targeting properties that do not have a mortgage or other lien, scammers hope to complete the transaction before the true owner gets tipped off by the lender, according to Virginia REALTORS.

These criminals often claim some sort of emergency is keeping them stuck abroad or out of the area to explain why they are looking to sell so quickly.

“We’re hearing of a lot of cases in which the phony sellers use a medical or family emergency to explain why they’re unable to conduct the transaction in person,” said Virginia REALTORS® General Counsel Laura M. Murray. “Often, they will insist on conducting the entire transaction virtually.”

In many of these cases, the digital images of photo IDs provided by the criminals are intentionally made to be barely legible.

Steps to help agents protect themselves and their clients from scammers:

  • Conduct independent research on property ownership through county land records
  • Insist on meeting with sellers – either in person or by video call
  • Insist on a known settlement company or attorney being involved in the transaction

“It is imperative to trust your intuition,” said Virginia REALTORS® 2023 President Katrina M. Smith. “If something seems off, make sure to speak with your broker about further steps you can take before taking any actions with the consumer.”

For more information, visit

Crystal Graham

Crystal Graham

Crystal Abbe Graham is the regional editor of Augusta Free Press. A 1999 graduate of Virginia Tech, she has worked as a reporter and editor for several Virginia publications, written a book, and garnered more than a dozen Virginia Press Association awards for writing and graphic design. She was the co-host of "Viewpoints," a weekly TV news show, and co-host of Virginia Tonight, a nightly TV news show. Her work on "Virginia Tonight" earned her a national Telly award for excellence in television.