Buying or selling a home in today’s market involves more than negotiating price and signing paperwork. It also requires a knowledge of the potential ways that ‘bad players’ seek to intercept wire transfers and title access. Such growing threats are now expanding to include social media scams, phishing attempts, and wire fraud schemes that target consumers during real estate transactions.
At Counsellors Title Agency in Toms River, NJ, since 1996, we believe informed clients are protected clients. Understanding how scammers operate can help safeguard your money, identity, and closing process.
Social Media Scams Are on the Rise: Scammers are increasingly advertising on social media platforms, online marketplaces, and digital classifieds, using fake listings, impersonation tactics, and false promises to lure victims. They may promote:
• Rental homes that do not exist
• Homes for sale they do not own
• Discounted services requiring upfront payment
• “Urgent” investment opportunities tied to real estate
• Fake moving, renovation, or settlement services
These scams often use attractive logos, amenable language, and discounted pricing that seems unusually favorable.
How to Protect Yourself Online: Whenever possible:
• Shop or transact through official websites
• Verify businesses independently
• Be cautious of deals that seem too good to be true
• Never send deposits or funds to unknown parties without verification
• Confirm ownership and legitimacy through licensed professionals
Wire Fraud: A Serious Threat in Real Estate
One of the most dangerous scams affecting buyers and sellers today is wire fraud. Criminals may hack or spoof email accounts connected to a transaction—such as buyers, sellers, lenders, attorneys, agents, or title companies. They then send fake wire instructions designed to redirect closing funds into fraudulent accounts. Once money is wired to the wrong account, recovering those funds can be difficult and time-sensitive.
How Wire Fraud Typically Happens: A buyer receives what appears to be a legitimate email saying:
• Updated wiring instructions
• Final payment details attached
• Immediate action required to avoid closing delay
• New escrow account information
These messages often look authentic and may include logos, signatures, and familiar names.
Important Warning: Caller ID, Emails, and Texts Can Be Spoofed
Scammers can make caller ID, emails, and text messages appear to come from:
• Your bank
• Your lender
• Your real estate agent
• Your attorney
• Your title company
If you are ever unsure, end the conversation immediately and contact the company directly using a phone number or website you know is legitimate.
Do not rely on links, phone numbers, or contact details sent in suspicious messages.