BIC TIP #1321: Treat Vacant Land Sales as a Scam
“Treat all vacant land sales as a scam until they are not.” Stephen Long, your Notorious BIC, says most of the real estate scams going on in the industry right now revolve around vacant land.
Verify the Seller Is the Seller
As a prudent broker, whether you are listing or selling, do your due diligence to verify that the seller is in fact the owner of the property.
The Scams Are Convincing
These are not sloppy attempts. Stephen warns that scammers are:
- Producing fake driver’s licenses
- Producing fake deeds
- Using AI to make the fraud harder to spot
Document Everything
If a transaction comes before the North Carolina Real Estate Commission, they are going to look at what you did to try to prevent it. If you do not have good documentation showing that you tried to verify the seller, you can get in trouble. If you do have good documentation and the scammers were simply very convincing, that happens. Do the best you can, and document that you did.
The Practical Takeaway
Approach every vacant land deal with healthy skepticism. Verify the seller’s identity and ownership, and keep a written record of every step you took to do it.
This BIC Tip is general real estate education for licensees and consumers, not legal, tax, or financial advice. Rules and forms change, so verify current NCREC rules, MLS rules, and standard forms, and consult a North Carolina attorney or qualified professional about your specific situation. See Disclaimers & Disclosures.
