Detroit real estate scams on the rise

Two acts, a house in Detroit – and a few very confused owners. One has the key to the front door, the other a key to the side door.

“We got to the closing table, and since we have already wired our money and signed the closing documents, a fraudulent act has emerged,” said Nader Shariff, real estate investor.

The bogus waiver had spelling mistakes and everything. He put the sale of a $ 100,000 home on the east side of Detroit in limbo for Shariff.

“The ‘party A’ in this fraudulent act has sold the property to the ‘party B’, while the ‘party B’ does not realize it is fraudulent,” Shariff said. “So now ‘Party B’ is pouring money into this property because they don’t know any better.”

Shariff is on the other side – he holds the lawful guarantee deed. But remember, “Party B” thinks they own it too. The two paid separate contractors to fix it at the same time.

“We walked in and noticed that all of the trash had been removed from the back yard and inside the property – it was a bit confusing considering our key was still working.

“Come and find out, our key still works and they are using the side door where they changed the locks now.”

It sounds weird, but Shariff, who says he bought and sold 200 homes this year alone, says it’s an easy scam.

“Anyone can make a quick bill of claim and save it, (but) does that make the sale correct or valid, no,” he said.

A deed of waiver is different from a deed of guarantee which costs a few hundred dollars more but ensures that you actually own a property.

“We have an owner who bought it and was looking to sell it, who is now being told he’s not even the owner,” said Matthew Kerry, Kerry Law PLLC.

Kerry is now ready to press charges against the false facts. He says the same team of bad actors continue to do the trick in the city – and its investors are dissuading it.

“Unfortunately in this town he has it most often,” Kerry said. “And it’s becoming a bit of the Wild West.”

Shariff has found the woman with the false act, and she told him that she will see him in court – which he intends to do. One obstacle is that the justice system is supported by similar cases. It may take a year or more for the case to go to court.

Following: Man promising free homes pursues savage claims

Wayne County has a hotline for those who believe they have been the victim of a scam like this – call the Mortgage and Deed Fraud Unit at (1-313) 224-5869 .

Nader Shariff, a Detroit real estate investor, describes a fake deed scam involving a Detroit home.

Nader Shariff, a Detroit real estate investor, describes a fake deed scam involving a Detroit home.

Source link

About Christopher Taylor

Check Also

Los Angeles visits Detroit, seeks to break losing streak on the road | Sports

Los Angeles Lakers (8-9, ninth in Western Conference) vs. Detroit Pistons (4-11, 14th in Eastern …

Leave a Reply

Your email address will not be published. Required fields are marked *