Owner Impersonation Scam?

[James H.]

I have purchased 6 properties over the last 20 years or so.  But, they have always been through agents.  A few weeks ago, however, I started a yellow letter campaign with hand written (color copied), hand delivered, letters.  The response has been about 5%.  Amazing.

I got my first good lead yesterday. Someone says that his mother has had to move out of her home and that the family would like to sell the home. The person who contacted me was in his 20's and was using a .EDU address from a reputable state university. He explained to me that his mother had moved out, that tenants had not taken care of the home, and that the family was happy to receive my letter and would consider the type of offer that I am willing to make (cash, 70% ARV minus repair cost).

Great!  However, searches of the county records indicate that the owner is a widow who lives in another city.  She has many rental properties near the home in question, though.  She and her late husband purchased the home in question over a decade ago and it is paid off.  (The caller told me that there was still a mortgage.)  The kicker is that the ethnicity of the first and last name of the owner and her late husband is very different than the ethnicity of the caller's name.

Is it worth the time getting the experience of meeting with a person like this?  I assume that a title company would immediately spot and eliminate owner impersonation scams. 

Thoughts?

[Account Closed]

Does it really matter?  Anything not on the up and up would be handled at the closing.  I would proceed but ask him for copies of the mortgage and ask him what his mother's name is.  If it doesn't match, casually say that the city has someone else's name as the owner.  This could be straightened out in about 3 minute with a call.  You don't know if this guy is adopted or a step child or just a really close friend who calls the lady his mother.  Ask if he can get his mother to come to lunch to sign the agreement of sale or something.  Make him put up or shut up.