The Real Estate Bloggers

The New Nigerian Scam – Australian Home Sold By Internet Thieves

Posted: 11 Sep 2010 08:07 AM PDT

Money_down_the_drain We have been watching how Nigerian scammers have been renting homes they do not own on Craigslist but now a story coming out of Australia is showing how these thieves are selling homes they do not own.

The theft came after thieves sold a Perth, Australia home for nearly a half a million dollars, kept the proceeds, and left the original owner with a capital gains bill.

While stealing houses is not rampant yet via the internet, it may be something to watch for. The audacity of the thieves is amazing and that may be there secret weapon. Agents should keep an eye out for transactions that involve very little interaction with the seller.

Police have told Roger Mildenhall, 64, the money is gone and he may not see a cent of it, Australia’s Sunday Times reported in its Sept. 12 edition.? In a bitter twist, the building contractor may still have to pay thousands of dollars in capital gains tax, the newspaper said.

The investment property was sold in June but Mildenhall, who now lives in South Africa, was not aware of the fraud until a former neighbour contacted him last week.

Mildenhall told the Sunday Times it appears his house was put on the market after a series of emails were sent to a real estate agent asking for the home to be sold due to financial hardship.

Mildenhall said fraud squad police officers told him their initial investigations indicated the scammers were originally from Nigeria.

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The New Nigerian Scam – Australian Home Sold By Internet Thieves