Latest News

In the last two years, overseas con- artists have managed to sell two properties in Perth which they didn’t own.

This was devastating not only to the rightful owners of these properties, but also to the real estate agencies who were also victims in this dreadful situation. 

In both so-called Nigerian property scams, the criminals were able to convince the agent, the settlement agent, the banks and Landgate that they were the title holder and could sell the property.

Once the transfers had occurred and the sales settled it became apparent that everyone had been duped, including the legitimate owners of the houses.

These property scams had been possible because identity checks had not previously been a requirement when selling a home. However, as technology has advanced it has become possible for scammers to fake an identity and present themselves to a real estate agent as the legitimate owner of a property.

In response to these frauds, the State Government now requires the seller of a property to produce proof of identity.  This means a 100-point check in much the same way as you must do when opening an account with a bank or telephone company.

When sellers are unable to be with the agent at the time of listing their property they must have their identity documents sighted by a witness such as a JP, doctor, police officer, pharmacist, etc.

This may be inconvenient to some sellers and agents, but it’s a small price to avoid another such incident.

So, if you are a seller and wanting to list your property with an agent from this time forward, don’t be surprised when your real estate agent asks you to provide a series of identification documents to check you bona fides. 

SOURCE. REIWA COMMUNICATIONS