Warning

For those who have not heard of the following, be aware that there are many fraudulent schemes occurring involving real estate transactions in which parties are attempting to sell property they do not own. The offenders are finding homes with no mortgages and, on many occasions, absentee owners. They call an attorney's office as a "Seller by Owner" (no REALTOR) requesting representation. Rather than setting up a meeting, they fax or send in a contract. The transaction seems normal and usually has a legitimate mortgage. The purchasers are co-conspirators with the Seller.

When it comes time to close, the Seller will tell you they cannot be present at closing, and ask that you send them the documents. They will send the documents back to you, and promise to be present at closing; however, they send a representative. The properties that have been involved seem to be North Shore and Northwest Chicago properties.

There seem to be some common elements at this point:

1. Seller calls unsolicited;
2. Transaction is "By Owner";
3. There is no personal contact;
4. Does not want to attend closing;
5. Seller sends a "representative"; and
6. Buyer may not have an attorney.

Please be aware of the above type of transaction.

Thank you.