Real Estate and Mortgage Fraud, Part 3 ~ "The Investigative Process" ~Inside Santa Clara County Association of REALTORS' General Membership Meeting

lw4n6581.jpgPart 3

Nicolas Smith, Private investigator

The examples of the "truthyness," which endlessly frustrate professionals and home shoppers, are comically listed on Teresa Boardman's weblog. Clearly, it is no laughing matter when visitors feel fooled into viewing a property based on deceptive marketing practices. (How Not to sell a home).

Nic Smith aptly described the "fraudsters," who prowl the real estate marketplace committing "foreclosure scams." These are the individuals who can easily persuade a financially strapped homeowner to "sign over title," and a "memo of understanding," (all under the pretense of restoring the defaulting party as rightful owner, if and when the economic storm clouds pass).

Smith quoted from his excellent article, " The Psychopath at Work, Home and Play." Referring in part to, "Surprisingly, many psychopaths lead perfectly normal lives." These "sub-criminals are amoral," later adding, "they lack empathy, remorse and see people as objects to be manipulated." (You're preachin' to the choir, Nic). After the meeting, Smith said that licensees are held to a standard of, " What the seller knew or should have known about their property." He strongly feels, that some day the standard will be, "What you knew about your client, or should have known about your client."

Nichols J. Smith, CPP CA Lic # 5617 41 Sutter Street, Suite 1230 San Francisco, CA 94104 Direct 415-738-2995 Fax 415-358-6877 Toll Free 800-516-2448

Pat Kapowich, "Negotiating Smooth Transactions Throughout The South Bay"