Older Homeowners Beware!

King County Assessor John Wilson wants to warn senior homeowners of scams that could literally cost you your home. He wants seniors to be aware of predatory buyers – high-pressure would-be buyers of your home who try to rush you into accepting an “all cash” offer for a fraction of what your house is actually worth. Wilson advises you to be careful of any unsolicited offer to buy your house.  

Check the Department of Assessment’s website and check out your assessed value. If that unsolicited offer is for significantly less than the assessed value, be leery. As your family, friends, or a qualified real estate professional. Don’t fall prey to high-pressure offers of fast cash, quick closings, and no having to pay future property tax bills. 

Another scam is property lien fraud. The scam threatens an IRS lien or levy on your property and demands you immediately pay thousands to some official-sounding, faceless agency, like the “Bureau of Tax Enforcement.” If you pay, the crooks walk off with your money. You can find out more about how to spot and stop this on the IRS’s website. 

This final scam can be the criminal byproduct of identity theft. Crooks steal your identity, and then they use that information to take the title on your home, put it in their name, and try to force your eviction or demand money to release the title. Federal law enforcement reports title theft is one of the fastest-growing cybercrimes out there. You can protect yourself by both regularly checking your credit report and periodically checking King County title records here online.

For more information on how to protect yourself from scams targeting older homeowners, call the AARP Fraud Watch Network Helpline at 877-908-3360.  The Helpline is free, and you do not need to be an AARP member to call.  The AARP Fraud Watch Network launched in 2013 as a free resource for people of all ages and provides information about fraud and scams, prevention tips from experts, and an interactive scam-tracking map.  You can also sign up to receive free alerts on the latest scams and fraud.