Tips to safeguard your money when wiring!

by Josh Bohling

Wiring Money Safely During Your Real Estate Transaction

When you're involved in a real estate transaction, wiring money to a title company is often a necessary step. However, it’s crucial to take precautions to ensure that your hard-earned funds are sent securely. As a REALTOR with LPT Realty, I’ve seen how small steps can make a big difference in protecting your investment. Here are some essential tips to wire money safely and avoid becoming a victim of fraud.

1. Verify All Instructions in Person or via Phone

Fraudulent wiring instructions are one of the biggest threats in real estate transactions. Scammers often intercept emails or send fake instructions that can look strikingly legitimate. Before you act on any emailed wiring instructions, confirm the details directly with the title company.

ALWAYS use the phone number listed on your contract between lines 33 and 35 to reach out to the title company to verify any and all emailed instructions including account and routing numbers. This ensures you're contacting the correct party and not a fraudster who might have altered communication through email or phone.

2. Be Wary of Last-Minute Changes

If you receive updated wiring instructions at the last minute, treat it as a red flag. Always pause and verify directly with the title company. Again, use the phone number from the official contract rather than relying on email or other unverified sources.

3. Protect Your Email Accounts

Scammers often target email accounts to gain access to sensitive information. Enhance your security by:

  • Using strong, unique passwords.

  • Enabling two-factor authentication.

  • Avoiding public Wi-Fi when accessing sensitive information.

4. Confirm Receipt of Funds

Once you’ve wired the money, call the title company immediately to confirm they’ve received it. This step is crucial to ensure that the funds haven’t been misdirected.

5. Report Suspected Fraud Immediately

If you suspect that you’ve been targeted or have sent money to a fraudulent account, act quickly. Contact your bank and the title company right away to see if the transaction can be reversed. Additionally, report the incident to the FBI’s Internet Crime Complaint Center (IC3).

Wrapping Up

Taking the time to follow these precautions can save you from devastating financial loss. As your realtor, I’m here to guide you every step of the way and ensure that your transaction proceeds smoothly and securely. If you have any questions or concerns about wiring money during your real estate transaction, don’t hesitate to reach out.

Stay vigilant, stay safe, and trust your instincts! If you have any questions, I am always a phone call away. 

 

Josh Bohling LPT Realty 239-320-5326

GET MORE INFORMATION

agent

Josh Bohling

+1(239) 898-1419

Name

Phone*

Message

I agree to be contacted by Josh Bohling LPT Realty via call, email, and text. To opt out, you can reply 'stop' at any time or click the unsubscribe link in the emails. Message and data rates may apply. 

Policy Information can be found in the link below.

https://www.sellmyhouseswfl.com/site/privacy-terms#privacy-policy

};