Does anyone know how this scam makes money

pothole70

I have an empty property for sale that I visited on Monday, I went back on Wednesday and the For Sale sign had been removed and the locks had been changed on the front and back doors. My estate agent and solicitor knew nothing about it. I then called 101 for advice from the police as I was getting a locksmith to enter the property and was concerned someone might be in there, but apparently they won’t get involved until a crime is committed. Even though now I have evidence that it appeared on another estate website for far less than what we are asking, and a neighbour witnessed thirteen people stood outside then entering the property in their eyes no crime has been committed. I was just told to call Action Fraud who don’t act to prevent fraud, they act after fraud is committed. So I fitted a new lock and bolts to the back door, an alarm fitted that also alerts me by phone if someone enters the property, and deadlock night latch on the front door, and a locksmith bill of £297 to get into the property, which I now feel ripped off, but at the time we just needed to get in.

So if you have got to the end of my story, has anyone experienced this and how without the deeds to the property do these scumbags make money out of it. Any advice would be appreciated.

Grumpy_chap

Have you signed up for Land Registry alerts?

Was any previous tenant / occupier fully (and willingly) vacated from the property?

beckstar1975

gosh, this sounds awful. If you haven't already sign up for land registry alerts immediately so if anyone tries anything re registering the property you will be alerted and can respond. Other than that no advice but good luck

springmagpie

a common fraud is that people advertise it for rent and charge people a sum of money to hold it for them, they do this to multiple people then disappear 

Keep_pedalling

Have you informed this other estate agent that the house is yours? Have you checked the land registry to make sure nothing dodgy has been going on there? 

Tryinghardtosave

How long has it been empty for? Does it look like it is decayed or derelict? Maybe they were eying it up for a cannabis farm or something ? Did you not report a crime of breaking and entering to the police ?
Do you have insurance for the building ?

Emmia

There's a few scams that might be involved - this HMRC blog goes through them.

https://hmlandregistry.blog.gov.uk/2024/11/18/keeping-a-close-eye-on-your-property-helps-us-prevent-potential-fraud/

user1977

springmagpie said:

a common fraud is that people advertise it for rent and charge people a sum of money to hold it for them, they do this to multiple people then disappear 

This seems most likely. There are alternatives like selling the property (via identity fraud of the OP, so they may wish to watch out in case that's happened).

Exodi

I think most likely the scam won't involve actually selling the house but making money pretending it's a rental - e.g. charging multiple people for security deposit and first months rent in advance.

Obviously having access to the house not only allows them to show unsuspecting victims round, it also reinforces credibility. Obviously they need a house that is vacant and up for sale is perfect. Some do it on AirBnb's but there's some traceability there as you have to make a booking and they often have some additional security (e.g. cameras) whereas most domestic properties do not.

That's not to say it's impossible they'd try to sell the house, it's just obviously significantly harder and riskier. I'd set up land registry alerts to put your mind at rest.

If you've changed the locks and installed an alarm, that's great. I'd be tempted to put up a big sticker in the door (secured by ADT or something).

Doesn't surprise me that the police refused to get involved.

pothole70

Thank you for all the replies just for an update the house is in need of modernisation and has an EPC of F so could not be used as a rental. This was my wife’s parents home they had owned the property for 70 years sadly now passed away. They never registered it with the Land Registry but our solicitor has the deeds and was leaving it to the new buyer to register when sold. Their advice was to register it in my wife’s name, which we have told them to proceed with and see if any other application have been submitted, but I believe this could take anything over 7 months with all the new builds being registered.

WIAWSNB

Haven't you approached that other EA? Are they a credible company? Local?

I'd go in and inquire about the place, and have your phone recording in your pocket. Ask about the house's 'story', the owner, and why it's for sale - general stuff. 

After the spiel, inform them of who you are. 

If they are dodgy or complicit, report them to their regulating body. 

If, however, they are innocent - they've also been 'scammed' - they should have the contact details of the scammer. Then the police.