You’ve done the hard work. You’ve staged the home, navigated the inspections, and finally reached the closing table. Your “Net Profit” is sitting there, ready to be wired into your account.
But there is a growing threat in the New Hampshire real estate market that every seller needs to know about: Wire Fraud. What is Real Estate Wire Fraud? Real estate wire fraud is a sophisticated cybercrime where scammers “spoof” or mimic the email addresses of your real estate agent, title company, or attorney. Their goal is simple: to trick you into wiring your closing funds (or receiving your sale proceeds) into a fraudulent account.
Once a wire is initiated and cleared, it is nearly impossible to recover. For a seller, this could mean losing the entire equity of your home in a single click.
How the Scam Works: Phishing & Spoofing
Scammers are patient. They often monitor real estate professionals’ email accounts for months, waiting for a “closing” to be mentioned.
- The Authentic-Looking Email: You receive an email that looks identical to one from your agent or title company. It uses the same logos, signatures, and even the same “Reply-To” address.
- The “Last-Minute Change”: The email will claim there has been a sudden change in banking procedures or a “system update.”
- The Diverted Funds: They provide new wiring instructions and urge you to “act fast” to ensure the closing isn’t delayed.
The Consequences are Permanent
Unlike a credit card charge that you can dispute, a wire transfer is a “cash-equivalent” transaction. Once the money hits the scammer’s account—often offshore—it is dispersed instantly. For many sellers, this represents years of mortgage payments and home appreciation vanished.
How We Protect You at Nick Ponte Realty
At Nick Ponte Realty, your security is our priority. To ensure your proceeds land safely in your bank account, we follow a strict “Verify Before You Wire” protocol:
- No Last-Minute Changes: We will never email you with “new” or “updated” wiring instructions at the eleventh hour.
- The Phone Verification: Before you ever hit “send” on a wire, call your title company or agent at a known, trusted phone number (not the number listed in the suspicious email) to verbally confirm the account details.
- Secure Portals: We encourage the use of secure, encrypted title company portals rather than standard email for sensitive financial data.
The Golden Rule of Closing Day
If you receive an email asking for a change in wiring instructions, STOP. Call us immediately. A 60-second phone call is the only thing standing between your hard-earned equity and a cybercriminal.