Category: (1)

Fraud in Real Estate

With some much business being conducted online, it is no surprise that unethical people troll the internet for victims. While so many remember the Phrase “I have a bridge I want to sell you”, modern thieves have gotten far more sophisticated. The big scams we are seeing right now involve the wire transfer of funds. In some cases, hackers, have obtained the online credentials of some realtors and possibly some large realty specialty firms. These hackers will send out e mails requesting the wire transfer of funds in relation to the real estate transaction you have in progress. Often enough these requests are often marked with language indicating the funds must be wired immediately, or within a specified amount of time. Before you wire any money anywhere, pick up the phone and call your realtor. Immediately after that call the title company. Your realtor should be doing the same. Verify any requests for funds with your title company. Do not send money!! Do not send money!!! Do not send money!!!! If at all possible when you enter into a real estate transaction work with local title companies with offices you can visit. The local companies are built on personal interaction and they work hard to get you over the paperwork hump to help you get into your new home. So would you like to buy a bridge?