SCR offers FOREWARN for alternate contact for the deeded owner (e.g., phone, email, mail).
The article mentions looking for the typical red flags (e.g., desire for quick discounted cash close) "too good to be true" aspect of scams and asking the potential scammer questions about the physical aspects of the land since many organized criminals operate from overseas and use the internet as a their means of access. So, the crooks often do not have knowledge of the actual land.
Get the closing attorneys and their law firm staff to help detect these scams. Alert the law firm that you have never met the seller and any red flags.
SCR offers zipForms which has a pay for e-sign verification product.
5.How does Identity Verification work? Identity Verification is an optional additional security measure to verify a signer’s identity. The zipForm® user will be charged $5 per signer per transaction and will be prompted to enter credit card information before sending off for signature. Identity Verification will ask the signer a series of questions to verify their identity. The information for these questions comes from publicly available data sources, such as county or city records. None of the information comes from the signer’s credit record nor impacts their credit record. All of the information complies with all relevant local and federal privacy laws.
Two Factor Authentication is: – A layer of security to protect access to documents which contain PII. – A unique, 1-time code sent via text message to each person accessing a transaction document. Securely accessing documents requires two things: o Something you have – a unique code sent via your cell phone o Something you know – a password – Safe-guarding your clients’ documents only costs $5 per real estate transaction, regardless of whether you have three signers… or 15 signers. Two-step verification is a preventative measure to help avoid a much larger, and much more costly, event in the future. – As a real estate professional selecting cybersecurity protection, you will receive the following benefits: – Transaction Protection – License Protection – Business Protection – Reputation Protection – As a real estate professional selecting cybersecurity protection, your clients will receive the following benefits: – Personal Information Protection – Security Assurance To use SMS Two-Factor Authentication, click the check box next to the blank field, then enter the 10- digit cellular phone number of the parties you wish to authenticate, then click Next. This will generate a one-time use code which is sent to the number(s) provided that will be used during the signing process. The use of the Text Message Authentication feature requires a non-refundable fee of $5 per signer, as does the Verify ID feature. Neither feature is included as part of member benefits offered to agents.
Posted by: Byron King on 03/13/23 (This information is only accurate as of 03/13/23. You must contact SCR for updates and changes to this information after 03/13/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)
This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.