Happy Buyers and Sellers = happy closing agents/real estate agents. Thank you for allowing us to be a part of your closing.
Here's a great article on wire fraud. If you're a 'speed Facebooker' like most and it's too long to read...just check out items #10 through #14 under the heading 'Compromised Email Scams Are On The Rise'.
The loss numbers are staggering, and still growing. Items 12 and 13 of the article show that wire fraud losses grew from $19,000,000 in 2016 to $969,000,000 in 2017...an incredible 5100% increase! Stats for 2018 and 2019 show even more losses.
The real estate industry has developed several preventative measures, which primarily focus on dodging liability...as opposed to protecting the individual consumers. Although these tactics help, those committing the crimes are always several steps ahead of those trying to curtail/stop them.
Once again, the only 100% effective way to NOT becoming a victim of wire fraud....is to NOT send money via wire transfers unless absolutely necessary. And, NEVER ask the title company to email them to you. TIP: Lenders funding transaction or being paid off from one basically never get hit by wire fraud. Why? They all use the old-school fax machine to transmit their wiring instructions back and forth to the title company. Also quite safe is a text message (sent directly to the buyer by the closer at the title company) containing an image of the wiring instructions.
That said, certified funds are still (by far) the safest way to handle large $$ payments for buying properties.
Certified funds drafted by your bank and payable to the title company=No Risk. 👍
Wire transfers from the same bank, sent to the title company=High Risk. 👎
This seems simple but, unfortunately, human nature is that folks tend to think 'it won't happen to me'....until it does and they're in financial ruin 😭
Be careful out there, my friends....
50 Statistics That Show the Threat of Real Estate Fraud in 2019
notarize.com
Fraud is becoming more common as Internet scams become more creative and complex. Here are 50 statistics that show the threat of real estate fraud in 2019.We're happy to announce that Seminole County is the latest Florida county to adopt www.propertyfraudalert.com! This is a FREE way for property owners to know if/when their property's title has been manipulated by criminals who plan to steal equity or sell the property.
We HIGHLY recommend this service to anyone living in a county where it's available. Please don't stop there! Smart property owners use at least two methods of protecting against title fraud. For another no-cost option, please visit www.fraudshinestate.com/DIY.
These are great options, but they are only effective after you've already been victimized. The only way to STOP title fraud from happening to you is by enrolling your property into the (patent pending) system at www.fraudshinestate.com.
While we have you, please like this FB business page: Property Firewall.
Thanks! 👍
Seminole County Clerk Of Court
Property and mortgage fraud is the fastest growing white-collar crime in the United States. Scammers can file fake deeds, making it appear as if they own homes that are not actually theirs, for financial gain.You can register to receive free alerts when a deed, mortgage, or other document is recorded with our Official Records office using your name or your business name. This early notification can provide valuable time to stop these scammers in their tracks!
EDGE Media Hub
… In this in-depth Real Estate/ Title Fraud focused conversation Kelly and Kevin discuss the problems & concerns of title fraud in Florida affecting innocent people daily as well as ways to protect yourself and so much more…
Kevin J Overstreet grew up on a large cattle farm in Southwestern Missouri. After graduating with a Marketing Degree from Missouri State University in 1995, Kevin found his way into the title insurance industry. First working as a local title rep in St Louis, he was promoted several times and eventually headed up the company’s national division. In 2003, Kevin started his first independent title agency, Freedom Title of St Louis. Freedom Title quickly became one of the largest independently-owned title agencies in the Midwest.
In 2005, Kevin relocated his family to Tampa, FL and opened Insured Title Agency. After nearly 15 years in business, ITA has established itself as a premier provider of title/settlement services in the Florida market. During his 22 year career, Kevin has overseen the closing of over 40,000 real estate transactions. www.insured-title.com / www.fraudshinestate.com
Getting the EDGE is an interview style, one-hour, weekly, informative, inspiring show; not only providing the opportunity to promote & highlight business owners and leaders in the Tampa Bay Region, it’s an opportunity to get to know them personally and learn from their experiences. With EDGE it’s not only business, it’s personal.
To be a guest or for additional details, email EDGE at info@EDGEbusinessmagazine.com or visit www.EDGEbusinessmagazine.com
The POWER of the Testimonial!
Even if you don't believe me....EVERYONE believes Broker Bob! 👍
Title Fraud is REAL, and the only way to truly STOP it from happening to you and your loved ones is with the company and system we've developed at Property Firewall.
Please understand, Property Firewall is NOT competing with title companies in any way. In fact, we're here to ENHANCE what every title professional is already doing. In a soon-to-be-released update, all Florida title companies will be able to provide this valuable protection to their buyers....while earning a small commission 💲💲
Please share this with your preferred title company(ies).
The (patent pending) system has launched, and new members are joining the fight every day. Enroll your property(ies) at www.fraudshinestate.com today!
Thank you.
Long-Term Mortgage Rates Drop To 3-Month Lows
Long-Term Mortgage Rates Drop To 3-Month Lows
floridarealtors.org
It’s a great time to buy a home – if buyers can find one. The average rate for a 30-year fixed-rate mortgage declined to 3.60% this week from last week’s 3.65%.
