Unfortunately as technology advances in all aspects of the world, there are people out there looking to take advantage of others. The best way to protect yourself is to be knowledgeable, always confirm before exchanging information or money, and ask questions if needed. Wire Fraud has become an increasing issue in Real Estate as a whole. Buyers are receiving emails that looks exactly like the title company they are using with wire information. However, the bank information is not that of a title company, but a scammer. The buyer then sends the wire and the funds are lost. Always make sure to call the title company at the number you have been using for the entire escrow process (not the one on the email) to confirm that this is the correct information.
When a buyer or an agent requests a showing, feel free to ask for that prequalification letter if it is not already provided. This is perfectly acceptable prior to allowing someone into your house, not only for security purposes but to make sure they are a qualified buyer to even be able to offer on your home. If the showing request comes directly through
When a prequalification letter or contract comes in with lender information, agent information, and title information, all of the title companies, agents, and lenders should have some sort of public presence. AZRE.gov actually allows you to look up agent licensing status. Look up the information of all contacts, and feel free to even call to confirm prior to responding to an offer.
Lastly, title companies are the middle man, or third party. You should never have to exchange monies directly with a buyer or seller. If a seller is asking for a direct deposit, or a buyer needs funds to lock in their offer, this is a scam. Earnest money is the only form of currency that should be held prior to closing and that should be held by the title company or a neutral 3rd party. This can sometimes be the representing broker, but typically title company is the safest way to go here.
Trust your instincts, always confirm, and ultimately at the end of the day, if needed our agents are available for a consultation to review your escrow and assist as needed.