A recent call to RASCW raised concerns over the legitimacy of a prospective buyer and serves as a good reminder to all. As the WRA Legal Department states: if it sounds too good to be true, it probably is.
In this particular instance, the buyer is from out-of-state and moving to the Madison area. He communicates solely via email (his cell phone number is no longer active). After receiving information on a number of area listings, he selected one property and requested that an offer be drafted for his signature. When he was asked to provide proof of funds for the cash purchase, he did provide a document from a particular bank that appeared to support his financial ability to complete the transaction. However, a close reading of the document raised some questions. When our RASCW Member contacted the bank, it turned out the buyer was not a customer there at all. When this information was presented to the buyer, he has subsequently ceased all communications.
Please remember to exercise caution, perform your due diligence, and perhaps most of all, trust your instincts.
