How the scam works:
You have just bought a small house in Mexico as an investment property. You can’t be there every month, maybe not even every year, so it is necessary to hire somebody local to take care of it.
Whomever you decide upon, whether a property manager or somebody presenting themselves as the administrator of a homeowners’ group, be careful what papers they require you to sign. As much as you trust them, even if you met them in person, never sign a power of attorney agreement.
It was reported that scammers use this to con the elderly who own properties in Mexico, taking advantage of the POA to sell the house. By the time the owners visit Mexico next, the scammers are long gone.
How to avoid:
Get a proper translations for all documents and don’t sign a Power of Attorney contract for this.
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