Wire fraud and closing safety for buyers
Closing is when large sums move between accounts. Criminals know the calendar, the jargon, and the pressure. This page is about verification habits you can actually follow—not horror stories. It is general information published by Tabaconda LLC (Florida, USA). It is not legal advice, not a guarantee against fraud, and not a substitute for instructions from your title company, escrow officer, attorney, or bank.
Why real-estate wires are targeted
Attackers monitor or spoof email threads among buyers, listing agents, title companies, lenders, and attorneys. They send “updated wiring instructions” that look almost identical to legitimate messages: logos, file numbers, polite urgency. If you follow the fake instructions, funds can leave your account and become difficult to recover.
The attack works because:
- Closings already feel urgent and document-heavy.
- People are trained to obey email attachments and “secure” PDF instructions.
- Bank wires are fast and hard to reverse compared with card payments.
- Multiple parties make it easy to assume someone else already verified the details.
Non-negotiable rules
- Never trust email alone for final wire details.
- Call a known-good number from the title or escrow company’s official website, a business card you received in person, or a number you verified earlier—not a number that appears only inside a suspicious email.
- Confirm out loud the beneficiary name, bank name, routing number, account number, and amount.
- Treat urgency as a risk signal. Real closings have schedules; “wire in the next twenty minutes or lose the house” is a classic pressure pattern.
- Use dual control when buying with a partner or business entity: two people check the same details before anyone hits send.
- Do not re-wire “corrections” without repeating the full verification process. Criminals sometimes follow a successful fake with a second “sorry, wrong account” message.
Verification script (copy and adapt)
Hi, I’m calling to confirm wire instructions for [property address / file number]. Please read the receiving bank name, account name, routing number, and account number. I will not accept changes that arrive only by email. My name is [name] and my file number is [number].
Write down the name of the person you spoke with, the time, and the outcome. Keep that note in a physical closing folder.
Day-of-closing timeline (template)
Markets differ. Use this as a coordination template, not a universal calendar.
| Window | Action |
|---|---|
| T−7 days | Confirm who will send instructions; save verified phone numbers in your contacts |
| T−3 days | Ask whether any portal or multi-factor process will be used |
| T−2 days | Dry-run call: practice the verification script with the real firm |
| T−1 day | Slow down; freeze unexpected changes; sleep |
| Morning of funding | Final spoken confirmation; wire only after a match |
| After wire | Keep confirmation numbers; refuse “oops re-send” without re-verify |
Shared inboxes and couples
Shared email inboxes increase the chance that whoever sees a phishing message first acts on it. Agree in advance:
- Who is allowed to initiate a wire
- What threshold requires a second person
- Where the verified phone numbers live (paper + phone contacts)
When the closer changes midstream
If your file moves to a new title officer or firm, treat that as a new verification event. Do not reuse old instructions. Source contact information independently again.
What AI can and cannot do
AI assistants can help you draft checklists, summarize a closing timeline, or role-play a verification call. They cannot prove that a bank account belongs to a legitimate title company. Do not paste full account numbers into public consumer chatbots. Prefer private notes and phone calls for secrets.
What to keep in a physical closing folder
- Printed contact card for title/escrow
- File number and property address
- Lender contact
- Notes from each verification call
- Your walk-away rules and payment comfort numbers from earlier HOME stages
Paper still works when phones die and inboxes flood.
If you suspect a fraudulent wire
Act immediately:
- Call your bank’s fraud line and report the wire.
- Notify the title/escrow company and your attorney or agent using verified contacts.
- Follow the bank’s instructions on any recovery process and law-enforcement reports.
- Preserve emails and headers; do not delete evidence.
Speed matters. This is not a “wait and see” situation.
Related Execute pages on this site
- Offer strategy and comps
- Inspection prep checklist
- Moving day checklist
- Closing costs explained
- Home buying framework
Closing communication hygiene (extra)
| Do | Don’t |
|---|---|
| Prefer phone verification for money movement | Click unexpected “updated wire” attachments |
| Use official portals when the firm provides them | Reuse weak passwords across closing accounts |
| Confirm changes with two channels | Approve wires while distracted in a rideshare |
| Keep a written log | Assume your agent already double-checked account digits |
Title company intro questions (ask early)
- How will final funds instructions be delivered?
- What phone number should I save today for verification?
- Who is my day-of contact if something looks wrong?
- Do you ever send last-minute account changes by email only? (You want the answer to be no.)
Write the answers down. That document becomes the source of truth when email gets noisy.
Published by Tabaconda LLC, Florida, USA. General information only—not legal, tax, or financial advice.
Optional office hygiene (not security theater)
Process beats gadgets. If you keep a physical closing folder: document accordion folder, label maker. Amazon links may earn a commission—affiliate disclosure.