If you want to purchase or sell property, you must be wary of various scammers. Real estate is one of the largest investments you can make and you want to protect your assets as much as possible.
The Attorney General of Texas allows people to file complaints against scammers who may find ways to steal your money during a real estate agreement.
Cashier check scams
Sometimes property owners fall victim to a common cashier check scam. If you post your listings online a person may offer you a cashier check. When you accept it, the check will be for more too much. The point of the scam is to have you send the difference back to the scammer before you realize you have a fake cashier check.
Wire fraud scams
Wire fraud scams typically occur when you receive communication from someone who claims to be from the title or escrow company. You may receive an email, text or phone call from someone with instructions on how to wire your escrow funds.
Scammers set up websites that look legitimate and may have email addresses that appear to be familiar. Generally, you have to inspect the email address closely to notice any discrepancies. They can spoof phone numbers too. The phone number may only have a one-number difference from your title company. Often, scammers will reach out to you days before closing on the home and if you follow their instructions, you will wire the money straight to them.
Regarding real estate agreements, you should remain cautious and follow your instincts.