Last week, one of our agents was contacted via email from a man wanting to buy this agent’s listing (Condo). This man claims he is about to retire from China and move to the USA. He wants to pay cash and wants the agent to write up the transaction and Docusign it to him. The agent was a bit suspicious and told this man he would need to send a check for the entire purchase price and deposit it with escrow immediately. Of course the man said he wouldn’t do that but he would send the agent a copy of his bank statement showing he had sufficient funds to close. The man sends a copy of his passport and a copy of his bank statement showing plenty of money to close. The agent still a bit hesitant sends the P & S via Docusign and can see that the buyer did open the file and said he needed to have his attorney review it. The agent called the number on the bank statement for the bank to verify the funds, but the buyer had blacked out the account number and the bank said they needed the account number to verify.
The agent then told someone else about this and they did a little detective work and found out this guy has done this many times. He sends escrow the earnest money check and then wants out of the deal and wants the earnest money back right away. Problem is, the check he sends is no good to begin with.
This is a huge waste of our agents time and all agents need to know this guy is doing this a lot per a website that we found:
Agents always be aware, this stuff happens from time to time and you need to be on guard.