Scam Alert: Bank owned, vacant and foreclosed properties being targeted in New Mexico

Members Beware: Both GAAR and SFAR has been notified of what appears to be a real estate scam.

Bank owned, vacant, foreclosed properties appear to be the target. Here is the general MO:

  • Scammers attain notarized fraudulent deeds of ownership, gained access to the properties and re-keyed locks.
  • The scammer then contacts a broker to list the property.
  • Once the broker lists the property, offers to purchase the property are submitted, accepted and, at least in one instance, closed.

Members please be aware and help get the word out!

4 Fraudulent listings were identified in Santa Fe's MLS, all 4 listings have been “Terminated”, but there may be more. GAAR has been notified of one potential alert that is currently being researched.              

  • In Santa Fe all 4 MLS listings had this phone number in the Agent Only Remarks as 307-200-9594. The number was not used in the suspected SWMLS listing
  • Fraudulent Notarized Seal (California)
  • LLC name sometimes same as street name

How you can protect yourself from this fraud:

  • Verify your owners
  • Secure Title Binders
  • Be diligent!

If you are aware of any suspecious listings, especially if they match this methodology, please contact GAAR immediately.