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Homebuyers Lose $1.5 Million in Wire Scam

The Wire Scam

Just days before settlement on the sale of home in Northern VA, emails will abound between homebuyers, home sellers, Realtors, lenders and title companies.  Among the chaos, thieves initiate their scam to rip off unsuspecting homebuyers of their cash and the realization of buying a home!

An unsuspecting home buyer receives an email that appears to be from their title agent, lender or Realtor with logo, name signature and all.  The email has specific wire instructions for the cash to be sent in order to close on the home.  The homebuyer, knowing they prefer to send a wire rather then get a cashiers check, send the cash to the bank identified in the email.

Like a thief in the night, as soon as the wire arrives, the online scam artists withdraws the cash and closes the account.

Unfortunately, stories like this are on the rise in Northern VA and across the DMV.  Check out this recent story by NBC Washington (Channel 4)….

Bottom Line

When receiving any correspondence from your lender, Realtor, or title agent during the home buying process make sure the email is legit.  Verify the correct senders email address and with instruction on sending money or sensitive personal information, go a step further and pick up the phone directly to your Realtor!  Make sure you know who you are speaking to on the phone and not by using the number listed on the fake email!!!

 

 If you are thinking of selling or buying a home in Northern VA —

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