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Posted: 6:00 a.m. Thursday, May 9, 2013

Land selling reload scam



By Clark Howard


I’ve talked in the past about a scam where people would buy raw land, sight unseen. This was mostly taking place in the Mountain States like Idaho, Nevada, and Arizona.

Now The Cleveland Plain Dealer reports there’s a reload scam going on. Crooks are calling up those same owners saying there’s a developer quietly obtaining property and the land has skyrocketed in value.

The owners are talked into selling with the promise of a great return on investment. They sign the paperwork, pay an upfront fee, wire the money, and get ripped off. People have apparently been conned in 41 states.

Remember, any commissions to be paid are net of the revenue you receive at closing.