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Protect Yourself from Real Estate Fraud
Real estate scams are becoming increasingly sophisticated, and they can occur at any point during a transaction. Watch for these common warning signs:
◆ Someone wants to sell or lease a property entirely online or outside the usual real estate channels.
◆ You receive an unexpected request for passwords, financial details, Social Security numbers, or other personal information.
◆ Wiring instructions arrive by email—especially if they have changed suddenly or seem unusual.
◆ A message from someone involved in the transaction feels out of character.
◆ You are pressured to act quickly on an “exclusive” real estate investment opportunity.
The National Association of REALTORS® recommends a simple approach: “Stop, verify and then act.” Never send money or sensitive information based solely on an unexpected message. Instead, contact your real estate agent, lender, or title company using a phone number or email address you already know and trust.
If you believe money has been sent to a fraudster, immediately contact your financial institution and law enforcement. Acting within the first 24–48 hours may improve the chance of recovering the funds.
Source: National Association of REALTORS®, “Consumer Guide: Fraud Red Flags.”
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allybosak@mhreteam.com
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469-438-0907
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August Housing Market
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