CONMEN pretended they wanted to buy an elderly man's £1m townhouse before moving in and turning it into a squat.
Police said the gang tricked their way into the four-storey Victorian terrace in Jericho, Oxford, after spotting a for-sale board outside and persuaded the owner to let them have a look around.
The pensioner is then thought to have asked them to post the keys back through the letter box of his nearby home when they had finished looking at the five-bedroom house.
But police believe the gang refused to leave the house in Walton Street - turning it into a squat and using it as a drugs den.
About 17 police officers and PCSOs raided the house.
After smashing down the door they seized drugs paraphernalia, including a cannabis grinder and a homemade pipe.
They also seized about seven bicycles and about 80kg of lead - all thought to have been stolen.
Six men were arrested. Four were later released without charge, and the other two bailed pending further inquiries.
Drugs co-ordinator PC Leigh Thompson said: "We had information that someone was dealing class-A drugs from the premises and we had numerous complaints from local residents that drug dealing and antisocial behaviour were taking place.
"It had been on the market - the for-sale sign was outside. Some chaps came round and the owner said Let me show you around'. He gave them the keys and said When you have finished drop them through the door' - and they never dropped them back."
PC Thompson said the owner of the house was extremely upset about what had happened and would be given counselling.
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