In the past few years, there has been a spike in cybercrime affecting homebuyers. According to the FBI, homebuyers are at risk because of a fairly easy-to-execute online scam. Basically, what can happen is a scammer can use malware to hack into the email of a realtor or title company. Then, they track when you (the homebuyer) are getting ready to go to closing. Right before your closing date, they will send an email from the realtor or title agent’s account that gives wire transfer details for an offshore account. You think you’re wiring the money for your new home’s down payment. Really, you’re sending your savings overseas, never to be seen again. In a flash, you lose your money and your new home. Scary, huh?
While these kinds of cybercrimes can get us into a panic, they don’t have to. There are a few simple things we can do to protect our money and our transactions. Take a look at the infographic we created this week. It’s full of helpful tips on how to keep your real estate closing from going terribly wrong.
Remember, an informed homebuyer is a happy homebuyer. If you are interested in learning more about the closing process and how you can protect yourself, give Brian M. Douglas & Associates a call. We are always here to help!