Houston real estate agents are reporting an uptick in wire fraud targeting home buyers, the Houston Association of Realtors said this week.
"FBI statistics show a record number of reported wire fraud victims across the U.S. in May 2018", the realty group said in a statement. "These have the potential of costing unsuspecting consumers thousands of dollars that will likely never be recovered"
HAR released the following tips to help guard against wire fraud:
• When possible, use a cashier's check for closing funds instead of a wire transfer.
• Call before you wire. Buyers should initiate a call to the title company and have the title representative read back the wiring instructions for verification before initiating a wire transfer.