The Boston Division of the Federal Bureau of Investigation (FBI) has issued a warning to both property owners and real estate agents regarding what it dubbed “a steady increase in reports of quit claim deed fraud” across New England.
The FBI noted that 58,141 victims reported $1.3 billion in losses relating to real estate fraud nationwide between 2019 through 2023. During the same period in the Boston Division – which includes all of Maine, Massachusetts, New Hampshire, and Rhode Island – 2,301 victims reported losing more than $61.5 million. Massachusetts recorded the greatest level of fraud losses, with 1,576 victims being defrauded out of $46.2 million, although the FBI added the total losses may be much higher due to a lack of reporting by victims to law enforcement.
“Folks across the region are having their roots literally pulled out from under them and are being left with no place to call home,” said Jodi Cohen, special agent in charge of the FBI Boston Division. “They’re suffering deeply personal losses that have inflicted a significant financial and emotional toll, including shock, anger, and even embarrassment. We are urging the public to heed this warning and to take proactive steps to avoid losing your property. Anyone who is a victim of this type of fraud should report it to us.”
The FBI stated that real estate professionals can help to avoid this type of fraud by following these tips:
- Avoid remote closings, if possible
- Ask for in-person identity checks
- Request copies of documents that only the property owner would have, including a copy of the most recent tax bill, utility bill, or survey from when the property was purchased, in addition to the individual’s ID
- Send a certified letter to the address of record on the tax bill
- Look up the phone number by reverse search or through the phone carrier
- Call to verify the public notary and confirm he/she attested to the documents.
