Wire Fraud in the Long Beach Island NJ Real Estate Market
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LBI Real Estate Wire Fraud 
LBI Real Estate Wire Fraud 
LBI Real Estate Wire Fraud
Long Beach Island Real Estate
Unfortunately, buying or selling a home in the Long Beach Island real estate market can open consumers up to fraud and theft. Nowhere is this more possible in the course of an LBI real estate transaction than in the form of wire fraud. Most funds are sent via bank wires from deposits to final payouts, and criminals are becoming better and better at fooling buyers and sellers alike. All consumers in the LBI real estate market should be aware of wire fraud and understand how to protect themselves from it.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
LBI Real Estate Wire Fraud
All buyers and sellers in the LBI real estate market should already be hearing this from multiple sources. Still, all consumers need to keep wire fraud in mind on all transactions. Wire fraud in the LBI real estate market and elsewhere is happening more frequently and will likely only worsen. Wire fraud in an LBI real estate transaction usually occurs when a client receives an email from someone pretending to be part of the real estate transaction. In this email, the party will state that wire transfer information has been changed or more money is due and asking the client to send it ASAP. They will then send new wiring info, which goes to the scammer. The scammer could be using an official name, but the email address is usually different and is not coming from an official account. Most companies can not block nor see what does not come from their individual web servers, so the legitimate parties have no way of knowing this is occurring.
The best things buyers and sellers can do to protect themselves are:
- Make sure trusted parties verbally tell everyone involved that nothing regarding money/wire transfer charges will be emailed and definitely that the only changes would come directly from the attorney’s or title company’s office.
- No one should send money without verbally acknowledging it with the attorney or title companies office.
- Clients should speak to attorneys or title companies immediately before transferring to verify that all information is correct verbally.
- Clients should also confirm with the attorney or title company that they see the wire transfer and have the money immediately after sending it.
- Buyers and sellers in the LBI real estate market should always be wary and second guess any email/text/fax message requesting money. Any one of those can be compromised.
Wire Fraud in the Long Beach Island NJ Real Estate Market
All attorneys and title companies should, at a minimum, be fully willing to cooperate with these guidelines, be fully aware by now that wire fraud in the LBI real estate market is a common occurrence, and are entirely agreeable with the verbal acknowledgment practice. By using common sense and double-checking the essential details, buyers and sellers can help to avoid wire fraud in the Long Beach Island real estate market. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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