The Dangers of Wire Fraud
Protect Yourself and Your Assets
Buying or selling a home is a life-changing event, and it's easy to get caught up in the excitement of it all. However, regardless of where you are in the process, it's important to be aware of any potential scams you could encounter along the way. Wire fraud is one of the scariest crimes affecting the real estate industry today—and its devastating consequences are often irreversible.
Looking for more information on how to stay protected during a transaction? When you work with Cielo Realty, we'll make every effort to keep you informed and protect your private information. If you want to learn a bit more about wire fraud, here are all the details you should know.
What is Wire Fraud?
Even if you're familiar with wire fraud, it's important to learn how it might affect your closing process. In the world of real estate, this scam involves someone posing as a person you trust and requesting large amounts of money via a wire transfer, which is often how buyers pay for their home at closing.
Wire transfers are almost always irreversible, and if you accidentally send money to a fraudster, you won't be able to pay for your new place. Billions of dollars have been lost to wire fraud over the last few years, but there are steps you can take to protect yourself and your assets.
Red Flags to Watch Out For
Getting Ready to Buy?
Looking for a team that will help you navigate the ins and outs of buying a home in Western North Carolina? That's where we come in! Cielo Real Estate is dedicated to keeping you safe every step of the way. For more information on wire transfers and potential real estate scams, just reach out to us at any time. We're always available via phone or email!