Buying or selling a home is one of the biggest financial transactions of your life. Unfortunately, scammers are finding new ways to take advantage of unsuspecting homeowners, buyers, and real estate professionals. The rise of wire fraud in real estate and various wire transfer scams has made it crucial for all parties to be vigilant. At Accurate Title, we believe knowledge is the best defense against fraud. Here are some common real estate scams and how to protect yourself.

1. Beware of Wire Fraud

Wire fraud is one of the most common and devastating scams in real estate. Hackers target homebuyers by impersonating title companies or real estate agents, sending fake wiring instructions to steal closing funds. Bank wire frauds and mortgage wire fraud have become increasingly sophisticated, making it essential to understand the risks involved in wiring money to title companies.

How to Protect Yourself:

  • Always verify wire instructions by calling your title company directly using a known, trusted phone number.
  • Be suspicious of last-minute wiring changes—legitimate companies won’t suddenly switch details.
  • Avoid clicking on links in unexpected emails. Hackers use phishing scams to steal personal information.
  • Implement a rapid response plan in case you suspect wire fraud in real estate transactions.

2. Fake Listings & Rental Scams

Scammers post fake real estate listings or rentals, often copying legitimate listings and advertising them at too-good-to-be-true prices. These scams can sometimes involve vacant land fraud or seller impersonation fraud.

How to Protect Yourself:

  • Never send money before seeing the property in person and confirming the legitimacy of the listing.
  • Work with a licensed real estate agent or title company to verify ownership.
  • If an owner or agent rushes you to send a deposit via wire transfer, proceed with caution.
  • Be aware of types of wire fraud that may occur during real estate transactions.

3. Deed Fraud & Title Theft

Deed fraud occurs when someone forges a homeowner’s identity to transfer property ownership to themselves, often using fake documents. This can result in someone taking out loans or selling your home without your knowledge. Title insurance plays a crucial role in protecting against such frauds.

How to Protect Yourself:

  • Regularly check your property records with your county’s registry of deeds.
  • Set up fraud alerts if your state offers them. Some counties have notification systems that alert homeowners to changes in title.
  • Work with a trusted title company that conducts thorough title searches and ensures your property is secure.
  • Be aware of potential title company scams and verify the legitimacy of any title company you work with.

4. Email Phishing Scams

Scammers send emails pretending to be real estate professionals, asking for personal information or payments. These fraudulent emails often look real but contain subtle red flags. Phishing wire scams are particularly dangerous in real estate transactions.

How to Protect Yourself:

  • Always verify email addresses—scammers often create lookalike domains that appear nearly identical to legitimate businesses.
  • Double-check requests for sensitive information. Title companies won’t ask for personal details over email.
  • Use strong passwords and enable two-factor authentication on email accounts to prevent hacking.
  • Be cautious of realty wired emails that may contain malicious links or attachments.

5. Foreclosure & Loan Modification Scams

Fraudsters prey on struggling homeowners by offering fake foreclosure assistance or loan modifications, charging upfront fees and disappearing without helping. These scams often target vulnerable homeowners facing financial difficulties.

How to Protect Yourself:

  • Be cautious of anyone asking for upfront payments to modify your loan or stop foreclosure.
  • Verify companies with the Consumer Financial Protection Bureau (CFPB) or your state’s attorney general’s office.
  • Contact your mortgage lender directly if you’re facing financial hardship.
  • Be aware of mortgage closing scams that may occur during the refinancing process.

Trust Accurate Title for a Secure Closing

At Accurate Title, we take fraud prevention seriously. Our team follows strict security protocols to ensure a safe, smooth closing process. We work closely with financial institutions and adhere to guidelines set by the American Land Title Association (ALTA) to protect our clients from escrow wire fraud and other real estate wire transfer fraud.

To enhance security, we offer remote online notarization and digital closings options, which can help reduce the risk of in-person fraud. Our outgoing wire preparation process includes multiple verification steps to prevent unauthorized transfers.

Whether you’re buying, selling, or refinancing, we’re here to protect you every step of the way. Our wire fraud prevention measures are designed to safeguard your real estate transactions from various types of wire fraud.

Have questions or concerns about fraud? Give us a call—we’re happy to help! Remember, understanding how to avoid wire fraud in real estate transactions is crucial for a secure and smooth property transfer.

Additional Resources:

  • The FBI provides valuable information on real estate fraud prevention.
  • Enhance your cybersecurity knowledge to protect yourself from online scams.
  • Familiarize yourself with FinCEN (Financial Crimes Enforcement Network) guidelines for reporting suspicious activities.
  • Consider wire fraud insurance for additional protection during high-value transactions.

By staying informed and vigilant, you can significantly reduce the risk of falling victim to real estate fraud and ensure a safe and successful property transaction.

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“Ask for Accurate”

116 South River Road, Building A, Bedford NH 03110