Bob Timm's "RealMan" Blog

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Guarding Against Real Estate Fraud

I was pleasantly surprised to see the cover of this months THE NATIONAL NOTARY, Guarding Against Real Estate Fraud.

Notary MagazineAs a former Real Estate agent and a Real Estate Broker the part a Notary Public played in detecting and helping prevent Real Estate fraud had never occurred to me.

This article really opened my eyes as far as what a Notary Public may encounter.

The number one scam I took notice of was adult children stealing from their parents. This shouldn't surprise me as I know of such a case very well. Here is how it works.

Knudt obtains a Power Of Attorney form off of the Internet or at the office supply store. He fills it out making him POA for his aging Grandpa Al. He takes the POA to a Notary (or two until he finds a gullable one) and gives him/her a sad story that Al is in tough shape and could not come along. Could you pleaseee help  me and papa Al, pleaseee? The gullible Notary notarizes the POA and Knudt is free to steal what ever he wishes under the forged POA.

This article is full of stories with some notaries being fully aware to those that were totally clueless. New York city alone reported 2,000 cases of deep fraud in a four year period that involved a "faulty" notarization. Sometime no (licensed) notary is even involved, the National Notary Association fraud team went on line and purchased a fake notary seal for just $9.99.

The article is three pages of great information about Real Estate fraud and how a good, conscience Notary can help you spot fraud. My advice to Real Estate agents is that you should trust your Notaries instincts if they think something isn't quite passing the smell test. Any time a client is in a huge hurry and wants to cut corners here and there, especially wanting to get something notarized when the signer is not available start weighing that commission against the possible legal hassle or even jail time that me be ahead for you.

 

WARD COUNTY NOTARY SERVICES

ROBERT L. TIMM, OWNER

201 Main Street South, Suite 116

 Minot North Dakota 58701

Bob Timm,  Facebook

Call or text 701-720-8513

Comment balloon 14 commentsBob "RealMan" Timm • March 29 2019 02:40AM

Comments

A number of years ago, I listed a home.  It had been on the market only a few days when I get a call from a lady.  She asked questions about the property and then asked if I would let her know if any offers came in.  I asked why she would want me to do that.  She responded that she and Mr. seller were divorcing, and that her signature had been forged to get her off the title.  The notary was none other than Mr. Seller's new girlfriend!  I immediately, handed the listing back!

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 4 months ago

Hello Bob, Great information to learn about and Myrl has a interesting comment, I will be back to see other comments

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 4 months ago

That's interesting Myrl Jeffcoat . I hope someone reported the girl and that she lost her notary license.

Posted by Bob "RealMan" Timm, Owner of Ward Co. Notary Services, retired Realtor (Ward County Notary Services) 4 months ago

Myrl Jeffcoat 's example is PERFECT for showing how a corrupt notary can contribute to Real Estate fraud Will Hamm 

Posted by Bob "RealMan" Timm, Owner of Ward Co. Notary Services, retired Realtor (Ward County Notary Services) 4 months ago

Morning Bob.

I don't notarize anything without both parties being there,  watching them both sign the document

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) 4 months ago

That's the only way to do it James Dray .

Posted by Bob "RealMan" Timm, Owner of Ward Co. Notary Services, retired Realtor (Ward County Notary Services) 4 months ago

Hi Bob, You have to stay vigilant every day...

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 4 months ago

Oh boy, that is truly scary, Bob! I can't imagine a Notary signing off on something like that but, I suppose it takes all kinds to make a world, right?!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 4 months ago

Bob, I am always amazed at how low people will go.... with that said I can tell you stories where even Escrow & Title Reps were involved in Fraud... gratefully many ended up the river serving their country in Yellow Jumpsuits....Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 4 months ago

This is important information to share. All of us need to be alert for fraud. 

Posted by Roy Kelley (Realty Group Referrals) 4 months ago

Yes we do Sheri Sperry - MCNE® and the bad guys keep coming up with new tricks every day.

Posted by Bob "RealMan" Timm, Owner of Ward Co. Notary Services, retired Realtor (Ward County Notary Services) 4 months ago

That's right Debe Maxwell, CRS every profession has folks who should not be in it and then too anyone of us could be tricked by some huckster if we are not on guard.

Posted by Bob "RealMan" Timm, Owner of Ward Co. Notary Services, retired Realtor (Ward County Notary Services) 4 months ago

Endre Barath, Jr. it is amazing to me that it would happen at a legitimate title company. Glad to hear that those responsible do get caught and have to pay the price.

Posted by Bob "RealMan" Timm, Owner of Ward Co. Notary Services, retired Realtor (Ward County Notary Services) 4 months ago

We do all need to be alert Roy Kelley . As a former lawyer I'm sure you have seen some really crazy things involving fraud.

Posted by Bob "RealMan" Timm, Owner of Ward Co. Notary Services, retired Realtor (Ward County Notary Services) 4 months ago

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