Fraud: What's Your Story?

[David Haynes]

I and my team have completed several hundred transactions in the last couple of years in Philadelphia and its neighboring suburbs (Montgomery County and Delaware County). It doesn't happen often, but we did just discover another fraudulent deed. After being in the game for a while, we can usually sense when something is off before we enter contract. This time it was discovered by our faithful and reliable title company who always does an extremely thorough job. It was discovered while sorting through a couple of judgments. The phony seller had no title to the property and pathetically said that he "didn't know any better." Long story short, it's being reported to the authorities and he'll be serving some time behind bars.

I would love to hear about your story. Have you been a victim of fraud? Was it discovered before closing? How was it discovered, and how did you handle it?