I know that as a closing attorney’s office, we ask a lot from buyers and sellers. Fraud makes it difficult for everyone to make sure everything goes smoothly in a closing. Technology has made a lot of things easier, but also easier to commit fraud in many instances.
We have to be on the lookout for bogus invoices, phishing emails, spoofed phone numbers, fraudulent emails, fake payoff instructions, and of course, fake wire instructions being sent to buyers. Fraud and criminals ruin a lot of things that were once easy.
I remember being able to pump gas and then pay afterwards. Enough people stole gas and drove off without paying, so now everyone has to prepay. Emails were once an easy way to send information. Now we have to make sure everything is encrypted and verified.
Your closing attorney should be verifying everything, even if it annoys you. I apologize in advance for asking for buyers’ and sellers’ correct email addresses and cell phone numbers, and then double checking everything. In the end, we are protecting everyone’s interests in the closing process to make sure nothing is stolen.
John C. Bennett is a real estate closing attorney and owner of Origin Title and Escrow, Inc.. Since 2003, Origin Title has handled real estate transactions – purchases, refinances, reverse mortgages – quickly and professionally. There will be no surprises, nothing misunderstood. Title searches are thorough and well-reasoned, to avoid unpleasant surprises later down the road. Calculate your closing costs in Georgia or Florida using our calculator or contact Origin Title using this form.