Fraud Alert

We have been notified of a local real estate fraud. Apparently, a buyer/couple claim that the wife is a cancer victim and they write a purchase and sale agreement on a local high-end property. They offer an all-cash sale with a very short close. They present a bank statement indicating that they have close to $25 million deposited with Wells Fargo. After the escrow is opened and inspections started, the buyers do not make the initial deposit into escrow. The sellers then cancel the transaction. This same scenario has been reported multiple times over the last couple of years from different brokerages. Agents are alerted to view these transactions carefully.