Cybercrime is on the rise in the real estate industry. These cybercriminals are hacking title company emails, along with real estate agent’s emails, and sending false wire information to consumers ahead of real estate transaction closings. Following are some tips to help you, and your money, stay safe.
- Avoid using email accounts such as Gma
il, Hotmail, Yahoo and AOL during your real estate transaction, as they don’t provide proper firewall safety features.
- Don’t click on links in emails that are not typically there, or are look suspicious. (Cybercriminals have become very sophisticated in their phishing schem
es by placing links in emails as bait. These emails will mimic contact information and email signatures you are accustomed to seeing on emails from the professionals involved in your transaction).
- Discuss the protocol for verifying any personal information requests you may receive associated with your transaction with either your real estate agent and/or title company closer.
- Avoid providing any personal account information in the body of an email or as an email attachment.
- Prior to providing any personal information verify with your real estate agent and title company the authenticity of any request.
- Prior to wiring any funds to the title company, verbally verify with your closer the accuracy of the account information.
- Double check at closing that the title company has the correct account information before any funds are wired into your account once closing in complete.
- Require verbal confirmation from your title company closer for any change associated with the funds for your real estate transaction.
There is no sure fire way to ensure you don’t become a victim of cybercrime, but these safety tips will help to make your real estate transaction a bit smoother.
Meet the Author
Libby Levinson made the move into real estate in 2005 and proudly joined Kentwood Real Estate – Cherry Creek in 2006. During her career, Libby has had the pleasure of helping a variety of clients navigate their real estate transactions: helping first-time buyers find their starter home; coordinating the synchronized sale and purchase for buyers looking for more space; sellers looking to down-size; and assisting sophisticated investors with their next investment opportunity. She has also enjoyed working with buyers building their dream home from the ground up. Libby is known for her ability to smoothly facilitate the complex details of both the buying and selling process.
Libby’s real estate website is www.libbysellsdenver.com. She also writes for www.lifestyledenver.com.