Philadelphia Real Estate Helpful News and Views : Beware of Emails Wire Fraud Alert in Real Estate Transaction

Beware of Emails Wire Fraud Alert in Real Estate Transaction

 

There are many email scams going around these days . Perhaps your local TV station had a broadcast about wire fraud in Real Estate Transactions .I know mine did . I also heard about one from my Title Company that a person posing as an attorney a sent an Email saying to  wire the proceeds to a different account . There are buyers who are told to wire their funds to bogus account . Everything in this email look authentic . Everything usually happens near the end of a transaction . My local MLS has sent out warnings . Once this money has been sent unfortunately the sender will most likely never see their money again .Many have lost their life savings .

 

Wire Fraud and Real Estate let's talk about this . Wire fraud occurs when one party convinces another party to wire money based on false pretenses.  How does this happen in Real Estate ? Criminals hack into emails of either buyers , sellers ,or Realtors emails . They look for dates of closings . The hacker will go to great lengths to make this email look authentic . They want to trick you . Then they send a very convincing email with information they have gathered from emails with instructions to wire the funds .

 

These emails are very sophisticated and very hard to detect on line  even by the best of us . The best advice is never wire money this way without confirmation . Always call your agent and confirm the instructions . Call whoever is in charge . The person receiving the money on the other end . 

 

You will never regret taking the extra time to verify the information.  Always call on secure phone line to verify the information  before wiring any money . Just remember once this money gets into the wrong hands the sender will most likely never see it again Don't be a victim make that call . You will be glad you did . 

Buyers and Sellers  be aware we are dealing with sophisticated  criminals

looking to buy or sell your home please call me

 

 

Hannah Williams

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Re/Max Eastern

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Comment balloon 28 commentsHannah Williams • June 10 2017 05:16PM

Comments

Hello Hannah Williams,  Great topic for everyone in the rain.  Make it a great day!

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 15 days ago

Will Hamm  This is becoming a very dangerous situation and we should be warning our clients .

Thank you for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 15 days ago

Scamming is such an epidemic these days.  We have to constantly be on guard! Confirm Confirm Confirm has become just as important as Disclose disclose disclose and location location location.  

Posted by Carol Williams, "Customized Mentoring & Marketing Services" (U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business.) 15 days ago

Carol Williams  You are so right  in this comment ..You hit the naif on the head We really need to keep our clients informed

Thank you for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 15 days ago

We just had our first experience with someone not associated with the title company sending false wiring instructions.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) 15 days ago

We have to be diligent, there is a lot of wire fraud going around.  I love your video, do you have a staff of sign holders?  

Posted by Christine OShea (RE/MAX Realty Select) 15 days ago

Joe Pryor It something we need to be aware of and put our clients on alert . It is a new sophisticated criminal . I believe they are from out of the USA so once the money is wired it will be almost impossible to get back

Thank you for joining the conversation

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 15 days ago

Christine OShea  This is a serious problem . You are correct with us doing our due diligence to make the clients aware . You are funny the video is made with the help of biteable  I also love the signs

Thank you for joining the conversation

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 15 days ago

Hannah this scam hit here in CT a couple of years ago.  I am surprised they are still getting away with this.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 15 days ago

George Souto  It is getting even worse and more sophisticated . They are even warning people on the news .

Thank you for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 15 days ago

Hi Hannah - We first heard about this early last year. Lately all of the title companies here have sent out advisories on this. It's one of the nastiest scams ever, guaranteed to ruin lives.

Posted by Dick Greenberg, Northern Colorado Residential Real Estate (New Paradigm Partners LLC) 15 days ago

The title companies use secure websites and I ask the buyer to get the number straight from the title company on the phone.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional) 15 days ago

Good evening Hannah. Such scary and real stuff here. Good post and well written.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 15 days ago

Hi Hannah, 

It is always good to have reminders on these fraud and scams. Thank you!!

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 15 days ago

Hannah

With each new day there a new scam. We have to be very careful.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) 15 days ago

Hannah,

Thanks for sharing this with us.  I had heard of this a few month ago.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding and Marketing (Napa Consultants) 15 days ago

Good morning Hannah.  The old term "forever vigilant" comes to mind when I read this

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) 14 days ago

Hannah, this is a very timely post. It seems to be happening more and more and have seen a couple scam emails. They're not always easy to detect. Very scary that someones life savings could be gone in the matter of one wrong click.

Posted by Amanda S. Davidson, Your Alexandria Virginia Real Estate Agent (Amanda Davidson Real Estate Group) 14 days ago

That is a very dangerous Hannah Williams .  I think many title companies are setting up the instructions inside a secure account now.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 14 days ago

Dick Greenberg  Yes this is true . Now they are hacking realtors emails and getting information . They have dates and times . They send the info to the buyers or sellers  and it looks very authentic .

Debbie Reynolds  They are now scamming us

Sheila Anderson  It is very scarey indeed ..

Thank you for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 14 days ago

Sheri Sperry - MCNE®  they are doing these hacks last minute  ..best to be safe

Lou Ludwig  These hackers are going into our emails and getting the information  very scary

Ron and Alexandra Seigel  We can never be too careful - always alert people to make that call to check

James Dray  we can never be too careful with money

Thank you for taking the time to comment

Hannah

 

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 14 days ago

Amanda S. Davidson  The emails look very genuine may be off by a . or one letter exceptionally hard to detect

Grant Schneider  Yes they are and usually there is a time period also . Sometimes you might receive it and think it is correct .It might look legitimate . The person might make a mistake in a stressful situation . That is why we must continue to tell them to call first . It is easy to get fooled when something looks authentic . We must take precautions .

Thank you for joining the conversation

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 14 days ago

Hannah we must be ever so vigilant these days. Sad but true.

Posted by Anna Banana Kruchten, CRS, Arizona's Top Banana of Real Estate! (Phoenix Property Shoppe) 14 days ago

We have a disclosure about this that all clients must sign to indicate they have been informed about the scams out there.  It's pretty sad.

Posted by Susan Haughton, Susan & Mindy Team...Honesty. Integrity. Results. (Long and Foster REALTORS (703) 470-4545) 14 days ago

Anna Banana Kruchten, CRS  Especially if clients are having funds wired . Sometime they are better off having funds mailed the old fashioned way

Susan Haughton  That is a wonderful disclosure . It is sad but unfortunately some do not do their due diligence

Thank you both for joining the conversation

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 14 days ago

This is important information to share. Consumers need to be alert.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 13 days ago

Hi Hannah... I feel as if I spend a ton of time scrutinizing all emails and texts these days to make sure it's not a scam or fraud. So much wasted time...

Posted by Nina Hollander, Your Charlotte/Waxhaw/Fort Mill Area Realtor (RE/MAX Executive | Charlotte, NC) 13 days ago

Roy Kelley  unfortunately these scams are real and we all need to make consumers aware .. By the way Happy Anniversary to you and Dolores

Nina Hollander  it is annoying but it something we all must do . We also must make sure we alert our clients of these scams . Best to be safe then sorry .

Thank you both for taking the time to comment

Hannah

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 13 days ago

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