LAKE WATEREE – The Sheriff’s Office is investigating a real estate scam targeting property owners and potential buyers in the Lake Wateree area. This fraudulent scheme involves individuals posing as the rightful owners of vacant or undeveloped land and attempting to sell the property without the true owner’s knowledge.
In a recent incident, a property owner discovered a For Sale sign on his land, placed without permission. The scam was caught before any transaction took place. However, a separate but similar case progressed to the point where tens of thousands of dollars were transferred before the fraud was identified.
How the Scam Works
Scammers search for property where the legal owner lives out of the area and rarely visits. A For Sale sign is placed on the property to lure interested buyers.
The scammer uses stolen or fabricated identification to impersonate the property owner. A fraudulent sale is initiated using real estate agents and attorneys, often with convincing documents.
Funds are wired to the scammer, sometimes before the fraud is discovered.
Warning Signs for Buyers and Agents
- The seller communicates only via phone or email and avoids video calls or in-person meetings.
- Contact information may seem generic or out-of-state.
- The seller pushes for a quick sale, often at a price well below market value.
- Identification may appear valid but may contain inconsistencies or outdated information.
How to Protect Yourself as a Buyer
- Independently verify the seller’s identity, especially when dealing with vacant land.
- Cross-reference property ownership through the Fairfield County Assessor or Register of Deeds.
- Be cautious of suspiciously low prices or high-pressure sales tactics.
- Work with reputable, local real estate professionals and attorneys.
How to Protect Yourself as a Property Owner
- Visit your property regularly, or have someone you trust check on it.
- Watch for unauthorized For Sale signs or activity.
- Consider filing a property alert with the Register of Deeds Office to be notified of filings involving your land.
- Report anything suspicious to law enforcement right away.
Report Suspicious Activity
If you believe your property is being targeted or have concerns about a land transaction, contact the Sheriff’s Office immediately at (803) 635-4141.