Buying and selling a home is an exciting time, but there can be pitfalls for unsuspecting consumers. Buyers and sellers need to be aware that criminals continue to use wire fraud schemes to steal money meant for home purchases or to divert the proceeds from the sale.
Beware of email that includes wire instructions
Most schemes involve criminals who email buyers requesting the buyer to wire money. The fraudster sends you an email that appears to be coming from your real estate agent or the title agent with wire instructions and ask that you wire money for the closing. The wire instructions are inaccurate, and the money could disappear forever. Never trust wire instructions sent over email and ALWAYS contact your escrow company in person or by telephone before wiring funds.
Protect Your Money
Watch this short video for four tips to protect your money and advice for what to do if you’ve been targeted by a scam.