How closing-day scams work, and how to protect your money before you wire a single dollar.
Wire fraud doesn’t have anything to do with your title or your deed, which is exactly why it catches so many people off guard. It targets something different: the actual money moving between you, your bank, and your title company right before closing.
Closings involve large sums of money moving fast, and that combination makes them an attractive target. Let’s talk through exactly how this scam works, and what you can do to protect yourself before you wire a single dollar.
Here’s what you need to know up front:
- Scammers often impersonate your title company by email right before closing.
- Never wire money based only on instructions you got through email.
- Always confirm wire instructions by phone, using a number you already have, not one from the email itself.
- We will never change wire instructions by email without a phone call to confirm first.
Myth: Wire Fraud Only Happens to People Who Aren’t Paying Attention
It’s tempting to think this only happens to careless people, the ones who aren’t reading closely. That’s just not true.
Scammers actively monitor real estate transactions, and they send emails that look completely identical to messages from your title company or your agent. Even people who are paying very close attention have been fooled, simply because the emails look completely legitimate.
The safest mindset is to assume any wire instructions you receive by email could be compromised, no matter how confident you feel reading them.
How would a scammer even get details about my closing?
Usually by hacking an email account belonging to someone involved in your transaction, like your agent or your title company, and quietly watching for closing details and timelines.
Can this happen even if my own email is completely secure?
Unfortunately, yes. A scammer only needs access to one person’s inbox somewhere in the chain, like your agent’s, to gather enough details about your closing.
Myth: A Professional-Looking Email Must Be Safe
Real letterhead, a familiar signature, maybe even part of a previous email thread copied in. Scammers are good at making things look legitimate, which is exactly the problem.
Looks alone can’t confirm anything is actually safe. The only real way to verify wire instructions is a phone call, using a number you already have, never one listed in the suspicious email itself.
Make that call every single time, even if the email looks completely normal.
What should I do if I get new wire instructions by email?
Call your title company directly using a number you already have on file, before you send a dollar. Never call a number that’s listed in the new email.
Would Heights Title ever change wire instructions over email alone?
Never. We will always confirm any change to wire instructions with a phone call before you send funds.
Myth: If You Catch It Fast Enough, You Can Get the Money Back
This one is rooted in how other types of fraud work. Credit card fraud, for example, is often reversible. People assume wires work the same way, and they really don’t.
Wire transfers move fast between banks, and scammers often withdraw the funds within minutes of receiving them. Recovery is rare, even when it’s reported almost immediately.
Prevention really is the only reliable protection here. Verify every single wire instruction by phone, every time, no exceptions.
What should I do if I think I already sent money to a scammer?
Contact your bank immediately and ask them to attempt a wire recall, then file a report with the FBI’s Internet Crime Complaint Center. Speed matters here, though recovery is never guaranteed.
Why We Take This So Seriously
We’ve seen what happens when this goes wrong, and it’s devastating. Someone’s entire down payment, sometimes their life savings, gone in minutes because of one email that looked convincing enough. That’s exactly why we build verification calls into every closing we handle, and why we’ll never be offended if you call to double check something that seems even slightly off. That extra thirty seconds on the phone is worth it every single time.
Closing Soon? Let’s Verify Your Wire Instructions Together.
We always confirm wire instructions by phone before closing. If you get any email about your closing funds, call us directly and we’ll verify it with you.