Wire fraud is ever present and ever increasing in real estate closings! Although the scams are quite sophisticated, there are simple steps that every homeowner can practice to help reduce the risk.
- Examine your emails! Scammers send complex and convincing emails that may appear to be from someone connected to the closing. The emails may even include specific documents that your lender or attorney has prepared.
- Check the URLs of each email. For example, All Nelson & Galbreath, LLC emails will end with the following URL: @nelsongalbreath.com.
Verbally confirm wiring instructions with a trusted source. Review both the routing and account numbers with someone you know within a firm or institution.
- Listen to your instincts! Stay in communication with your lender, realtor, and closing attorney. When something does not feel right, pick up the phone to confirm. Use checks when possible.