Fraud Alert

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.

Danville Office

208 W. El Pintado Road

Danville, CA 94526

Tel: 925.837.2317

San Jose Office

111 North Market Street, Suite 300

San Jose, CA 95113

Tel: 408.363.3635

Sacramento Office

8880 Cal Center Drive, Suite 400

Sacramento, CA 95825

Tel: 916.368.1000