A home buyers email scam is afoot. In fact, the scam has been reported on before. Although, it seems that was not enough to put a lid on the illegal activity for good. In fact, both realtors and home buyers especially beware of Bay area email scams. Beware of becoming targets for ruthless thieves, after your money when you’re ready to close on a home. Tragically, they have been successful with other buyers in the San Francisco Bay area. Don’t be one of them!
Home Buyers Especially Beware of Bay Area Email Scams Targeting Payments at Closing
It seems that the thieves know the Bay area real estate market sustains skyrocketing prices and bidding war frenzy. The rising prices and bidding wars are a result of low home inventory and high demand. In fact, it could be that these email scammers know the bidding frenzy makes for easier buyer targeting.
How do these scammers get a hold of your money? First, they hack your realtor’s email account. That allows them to read the email strings carried on between you and your realtor. Then, when they learn it’s become time for you to send the payment to close escrow, they strike. They send an email that appears to come from your realtor. It instructs you to wire the money. Although, it goes to a fake account that allows them to intercept and abscond with your thousands of dollars.
Don’t be like a recent victim, who lost $500,000 in this scam. I understand it was her life’s savings! Fight back. Home buyers especially beware of Bay area email scams. Also, be vigilant, and under no circumstances respond to any email asking you to wire any amount of money! You can easily verify everything by talking directly with your realtor. Know exactly who you are talking with. If needed, only talk to your realtor in person, on such a critical closing step.
Home Buyers Find Relief and Protection From Bay Area Email Scams
Don’t let this treachery slip under your radar. In fact, work with a realtor you can trust fully, for greater peace of mind. Work with someone in the Bay area and San Mateo County, who you can count on for excellent care and expert, highly ethical handling. In fact, a realtor such as this will have steps in place to ensure no such email scam happens on their watch. In the San Mateo County real estate market, that would be Diamond Certified, Five Star Real Estate Agent, Carmen Miranda.
It’s good to know this home buyer scam has come to the attention of the National Association of Realtors and the FBI. Also, it’s not just the realtor’s email being hacked. It could be the title company. It could be the lender. In fact, it could even be the transaction coordinator. Make sure you are getting the care, and secure handling you need, in every step of the buying process. Get with Carmen Miranda.