A Caution to Home Buyers

Wiring Funds

“Buyers and sellers should confirm all email wiring instructions directly with the escrow officer by calling the escrow officer on the telephone. In that conversation, the correct account number information should be repeated verbally before taking any steps to have the funds transferred.”┬áSilicon Valley Association of REALTORS┬«

In a world that now relies almost solely on technology to complete sales tasks, it isn’t surprising that theft has found its way into the Real Estate industry. Many of us have had that “uh-oh” moment gazing at that disappointing, little negative symbol when checking our bank account. It is even more disappointing when we know that the cause of that overdraft was the result of a purchase made by an identity thief. Despite Melissa McCarthy and Jason Bateman’s on screen antics, having your hard earned funds stolen is no laughing matter. For your own protection please make sure to thoroughly discuss money transfers with your realtor and check out this article for tips on how to prevent fraud from happening to you!

-CD

 

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