News Update: Warning Regarding Closing Docs By Email

Most of us get closing documents by email from the title company or closing agents handling our closing. Along with those emails can be the wiring instruction for sending funds to your closing agent.

BEWARE OF GETTING WIRING INSTRUCTIONS BY EMAIL

If your computer has been hacked or your email address has been compromised in any way, the hacker or person on the other end can see you are about to close on a property and all the closing information regarding the transaction.  At that point, all the hacker has to do is send you an email with wiring instructions that looks like it is from the closing agent simply requesting you wire the amount on the closing statement.

If you follow those wiring instructions not realizing the email isn't from the the closing agent, then you will be instructing your bank to wire funds to someone else, most likely someone in another country.  Because your bank did what you told them to do, they are not liable.  The mistake will be on you and you will most likely never see your money again.

Always call your closing agent and verify the exact wiring instructions and the exact account number by phone when dealing with closing documents sent by email.