Closing Cost Scams

Homebuyers beware! If you aren't careful you might get tricked into wiring money to the wrong person.

From accepted offer to closing you have roughly on average a month to 45 days. During this time you are at risk of closing cost scammers. These scammers not only try and pose as real estate agents but settlement agents as well. Last year these con artists accumulated roughly 1 billion and 16 million the prior year. Thieves will try and hack into agents email and track upcoming transaction. When the closing date nears they will send an email that talks about closing and wiring money. If you do not double check with your agent that the email is certified you might be at risk. As a realtor in this day and age, my clients are my number one priority. I make sure they know day one that they must not only double check but triple check with me before wiring money. I also make sure they do not click on links or call phone numbers in such emails unless I have approved. Whomever you might work with make sure to talk to your real estate or settlement agent about the closing process and wire transfer. Once you have made the transfer confirm the funds were received!

All in all just be careful when buying a home and wiring money.