Buyers and sellers need to be extremely cautious with all wire instructions
Due to the high incidence of hacking into title companies system, buyers and sellers needs to use great caution during their transaction . The following tips will help prevent wire fraud and make sure the proceeds to/from a sale go to the correct party, not some offshore hacker:
Sellers:
- do not email/fax your wire instructions to anyone
- do provide the title company or attorney handling your transaction original signed wire instructions
- Insist that the title company/attorney recite back to you before disbursing the funds the wire instructions they have on record for you
Buyers:
- before wiring your cash to close to the title company, call them direct and verify their wire instructions
These proactive steps by buyers/sellers will help protect their funds from criminals.
Don’t assume best practices are being followed and be proactive toward your own financial security.
Any questions, please call us at 305-271-0100 or [email protected]
