Protecting your Property – Securing Your Money When Home Buying
The home buying and selling process is usually a positive time in a homeowner’s life. It’s a symbol of old chapters ending, new chapters beginning, and opportunities for change and progress. While the journey is usually a positive one, there are unfortunate steps that can turn this sweet time into a sour experience.
Wire frauds and scams are a sensitive subject in real estate. It’s a topic all sellers and buyers should be aware of but isn’t always explained properly in the process.
Fortunately, wire fraud can be stopped before it even starts. There are a few key steps everyone in the party can take to keep transactions safe and secure during the buying and selling process.
Keep everyone informed
One of the best ways to prevent something as serious as wire fraud from happening is to stay informed. By educating yourself and your team about best practices and warning signs, you’ll be able to avoid a scam before it happens.
Detect warnings in the email signature
Usually, a fraudulent email will contain warning signs that should make the client suspicious. These warning signs include everything from a spelling mistake to a missing number in the email address.
Call to verify
When buying or selling a home, make sure you surround yourself with the most reliable team. Your agent should be available for any questions or concerns you may have throughout the process. If you don’t feel confident about an online transaction, call your agent to verify you’re safe.
Change your passwords frequently
There’s a reason you’re constantly being reminded, and sometimes even required, by your email to change your passwords. Many times, scammers pick up on email accounts with little security. The scammers follow transactions, and when it gets close to closing time, they’ll send a fraudulent email. By changing your password frequently, you make it harder for scammers to gain access to your email and personal information.
If for any reason you suspect you’re a victim, call the FBI and your local police. Wire fraud is a serious offense and needs to be reported to authorities immediately.
Protecting your funds and identity should be top of mind for your agent and everyone in your party. Make sure to voice your needs and concerns when hiring an agent. Connecting with an educated and qualified agent can be the difference between a stressful or a seamless sale.
Special thanks to Keller Williams Biltmore Group, for more information, visit kwbiltmore.com.