Buying or selling a home is one of the largest financial transactions most people will ever make — which unfortunately makes real estate transactions a prime target for cybercriminals. One of the most devastating and increasingly common threats is wire fraud.
Wire fraud scams are sophisticated, convincing, and fast-moving. Even savvy buyers and sellers can fall victim if they’re not informed and vigilant. Understanding how these scams work — and how to protect yourself — is essential when navigating a real estate transaction.
🚨 How Wire Fraud Happens in Real Estate
Criminals often gain access to email accounts belonging to real estate brokers, title companies, attorneys, or clients. Once inside, they monitor communications and wait for the right moment — usually near closing — to strike.
You may receive what appears to be a legitimate email containing wiring instructions. The message may:
- Look exactly like it came from your real estate broker or title company
- Use correct names, logos, and signatures
- Reference the correct property, transaction timeline, or closing date
- Create urgency (“Funds must be wired today”)
But the wiring instructions are fraudulent — and once funds are sent, they are often impossible to recover.
💰 Why Wire Fraud Is So Dangerous
- Wire transfers are immediate and irreversible
- Funds can be routed overseas within minutes
- Criminals often disappear once the transfer is complete
- Victims may lose tens or hundreds of thousands of dollars
This is why prevention — not recovery — is the most critical defense.
🛑 Golden Rules to Protect Yourself
Whether you’re a buyer or seller, follow these best practices every time:
✔️ Always Verify Wiring Instructions Verbally
Never wire funds based solely on an email.
Always call the intended recipient (title company, escrow officer, or attorney) using a phone number you independently verify — not one listed in the email.
✔️ Treat Any Change as a Red Flag
Wiring instructions rarely change. If you receive an email stating that they have, pause immediately and verify by phone.
✔️ Do Not Share Sensitive Information by Email
Avoid sending:
- Social Security numbers
- Bank account numbers
- Credit card details
Unless the communication is encrypted or delivered in person.
✔️ Secure Your Own Devices and Accounts
- Use strong, unique passwords
- Enable two-factor authentication
- Avoid public or unsecured Wi-Fi when conducting real estate business
✔️ Trust Your Instincts
If something feels rushed, off, or inconsistent — stop and verify. Criminals rely on urgency and distraction.
⚠️ What To Do If You Suspect Wire Fraud
Time is critical. If you believe fraudulent wiring instructions were sent or funds were misdirected:
- Immediately contact your bank
- Notify the title company or escrow agent
- Inform your real estate broker right away
- Act fast — the sooner action is taken, the better the chance of limiting loss
🏡 Why This Matters in Santa Fe Real Estate
Santa Fe attracts out-of-state and second-home buyers, many of whom conduct transactions remotely — which can increase vulnerability to wire fraud scams.
This makes clear communication, verification protocols, and experienced representation especially important in our market.
✨ Final Thoughts
Wire fraud is not about carelessness — it’s about criminals exploiting trust and timing. The good news is that nearly all wire fraud cases are preventable with education, awareness, and a simple rule:
Never wire money without verbally confirming instructions using verified contact information.
Being informed is one of the most powerful protections you have during a real estate transaction.
✨ About Adrienne DeGuere, Sotheby’s International Realty – Santa Fe
I’m a licensed Realtor® specializing in Santa Fe’s luxury and relocation markets, with 130 successful transactions and a top-4% local ranking. Protecting my clients — financially and otherwise — is a core part of my role. I prioritize clear communication, secure processes, and proactive education at every stage of a transaction.
If you’re buying or selling a home in Santa Fe and want to understand how to safeguard your transaction from wire fraud and other risks, contact me. I’m here to guide you every step of the way.
