Hi, I think I'm being scammed? Today I saw Bigger Pockets name on an online ad for Patch of Land. So I'm hoping you can help me? I purchased and closed on a property from Patch of Land in 2020. This month the local Title Co contacted me, saying they discovered they have $1000 of my earnest money. (A different Title Co was used to close). They need Patch of Land to release our funds. A guy with Patch of Land said they will only release it if I split it with him. I called and talked to the guy myself. He said he is not required to sign anything. If I want my funds released, I have to give him half. He said he is the only guy there trying to close stuff up for them. This is so shady please advise.

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Doug Smith

Lender
Tampa, FL

Doug Smith

Lender
Tampa, FL

Replied March 05, 2023 14:19

I've actually spoken on panels with folks from Patch of Land and they've been in business for a few years. I don't think they are scamming you, but it sounds like an employee certainly is...or likely the supposed title company that contacted you. Have you went to the website and called the number on the site? I do know they rebranded to a new name (I think Patch Lending). You're right...it's shady.

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Mtgtme Mtgtme

Replied March 25, 2023 13:28

Quote from @Jennie W.:

Patch of Land is a scam. Do not mince the words. The guy you talked could be Carlos Tabibi who has acquired the funds left out and milking the last penny. DO NOT SHARE 50%.What service did he he do to earn 50%?

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NREIG