Prevent Wire Fraud During Your Real Estate Transaction
In most real estate transactions buyers and sellers will be asked to wire funds from their bank to escrow or from escrow to their bank. Scammers have decided to prey on those going through real estate transaction. Your REALTOR, should inform you of this possibility during your real estate transaction. If during your transaction you have received a request to wire funds whether it be in email or over the phone, make sure that this is a legitimate request. Call your title company and ask them if they sent out the request. Don't send out any bank information until you have received verbal confirmation from the title officer working your transaction that it is indeed needed.