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Beware of Cyber Fraud in Real Estate Transactions

Categories: Blog, News, Purchasing a New Home | Posted: January 28, 2020

cyber fraud in real estate transactions












We are hearing more and more about instances of cyber fraud in real estate transactions in our local area. Beware and take extra precautions when sending money online via wires!

“In 2018 alone, 11,300 victims reported real estate or rental fraud, resulting in losses of more than $149 million, according to data from the Federal Bureau of Investigation’s Internet Crime Complaint Center.” (Shared Content) Read Full Story – The 4 most common mortgage and real estate scams and how to stop them

The Ivey contract gives you a reminder about Cyber/Internet Fraud:

BEWARE OF CYBER/INTERNET FRAUD: Buyer should be cautious of the potential for fake/spoofed emails and/or impersonating telephone calls from hackers and/or scammers attempting to defraud Buyer by way of wire or other types of financial fraud. These scams are on the rise in real estate transactions across the United States. The scams are various in nature but in many instances, fraudsters assume the online identity of the actual mortgage lender, closing attorney, real estate broker, and/or builder by using multiple lines of communication. Posing as any of these service providers, the fraudsters may attempt to direct Buyer to wire funds to a bank account controlled by the fraudster rather than an actual party to the transaction contemplated herein. The faked communication may appear to be originated from what looks to be an actual email address and/or telephone number of one of the legitimate parties, while in fact originating from the fraudster.  A buyer should at all times use caution when sending money if it is requested through email or telephone. Verifying any request, especially if a change in the account information has been made, with the originating party is a best practice and a way to help prevent this type of fraud. Please take the extra step to look up the phone number of the requesting party to make sure you have the correct information and do not go by the phone number listed an email or unsolicited telephone call as these could be set up by the fraudster to verify the fraudulent information.


Ivey Homes is a leading new home builder in Evans, Grovetown and Augusta, GA and Aiken, SC, with home pricing ranging from the  $140,000’s to Custom. For more information about living in or building a new home in Columbia County, Richmond County or Aiken County, visit! Connect with us on our Facebook page and Text: IVEY to: 77848 for convenient updates.

Caroline Ashe

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