Wire fraud
A scam where criminals impersonate the title company by email and trick the buyer into wiring closing funds to a fake account. Always call to verify wire instructions using a phone number you already had.
Every term like this one lights up in the step you're on.
Free to set up. No credit card.Part 1 of 4
Why a seller cares
Criminals watch for closings and send fake wiring instructions that look like the title company's. A seller's proceeds and a buyer's cash to close are both targets, and money wired to a fraudster is almost never recovered.
Part 2 of 4
A simple example
Two days before closing an email arrives from an address one letter off the title company's, with new wiring instructions for your proceeds.
| What arrives | What people do who keep their money |
|---|---|
| An email changing the wiring instructions | Call the title company on a number you already had, never one in the email |
| A rush to wire today | Treat urgency as the warning sign it is |
| Instructions that match what the closer said on the phone | Wire, and confirm the money landed |
Wiring instructions never change by email. A phone call to a known number is the whole defense.
Part 3 of 4
What people get wrong
That it only happens to buyers. Sellers' proceeds are wired too, and a changed account number is the same scam in the other direction.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · read against CFPB: mortgage closing scams · how we research and check what we publish
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