Preventing Real Estate Fraud: Insights from the G Law Firm
In this discussion, ProNotary’s team speaks with Ricky from the G Law Firm, a legal practice specializing in real estate transactions, including residential and commercial purchases, development projects, and private deals.
About the G Law Firm
- Specializes in real estate transactions
- Handles residential and commercial closings, development projects, and private transactions
- Maintains a strong focus on fraud prevention to protect clients
Preventing Real Estate Fraud
Common Fraud Trends
- Fraud frequently involves properties that have had long-term owners (often dating back to the 1920s–1950s).
- Fraudsters attempt to pose as owners, using fake IDs and resisting transparency during closing.
- Red flags include reluctance to provide legitimate identification and insisting on using their own notary.
Tools to Combat Fraud
Ricky outlines crucial strategies used to identify and prevent fraudulent property transfers:
Remote Online Notarization (RON)
- Performs multi-layer identity verification
- Provides encrypted audit trails for accountability
- Allows notaries to visually inspect signers and their identification
Internal Safeguards
- Comparing seller history and property records with presented IDs
- Sending a mobile notary to verify a signer’s identity in person when needed
Spotlight on Vacant Lot Fraud
Vacant lots are among the most common fraud targets because owners may forget about them or pass away, leaving the property unmanaged.
- Fraudsters easily find lot details online and impersonate owners.
- One recent case involved uncovering a fraudulent seller due to inconsistent historical ownership data and suspicious identification.
Watch the Full Discussion
See the complete conversation with Ricky from the G Law Firm here:
https://youtu.be/H3gFqPnhSto
Strengthen Your Real Estate Fraud Prevention
Looking to enhance your real estate transactions with strong fraud prevention tools like Remote Online Notarization?
Visit ProNotary.com to learn more.
