Real Estate Scheme Costs a Couple Life Savings
Amy P. Fennell • January 2, 2018
Sources: KUTV.com
and CNN
A fraudster posing as a real estate agent sent a couple an email asking for cash. Now, the couple may lose their entire life's savings.
The Browns, anxious to move into their new home, received an email that appeared to be from their real estate agent and title company. The message asked them to wire the funds. "We were so eager to get everything done in a hurry so we could move," Anne Brown said.
The Browns went to their credit union and followed the instructions they received in the fraudulent e-mail. The transaction went unnoticed for a few days until the real title company asked the couple's real estate agent, Carrie Butterfield, why she had told the Browns the incorrect amount of the wire transfer. "My response was, I never told the Browns to send a wire," said Butterfield.
Police and the FBI are investigating where the wired cash went and if it can be recovered. "We see the view of our dream home slipping away," said Anne. But the couple is sharing the lesson they've learned. "We don't want it to happen to anybody else, if we can help in a way. So, we're willing to swallow our pride," Brown said.
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As previewed last week, NAR is pleased to share the latest consumer guide focused on Making Your Home More Energy Efficient. This guide helps homeowners understand how to reduce energy usage, make cost-effective upgrades, and improve the efficiency and appeal of their home whether they are planning to sell or stay. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Making Your Home More Energy Efficient Real Estate Auctions Buyer’s vs. Seller’s Markets Estate Planning Mortgage Interest Tax Deduction Understanding & Protecting Yourself from Title Fraud Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients so that they have the information they need to find success in their homebuying or selling journey. Please remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover buying a historic property.
