Law Office of Kimberly A. Abrams & Associates, P.A.

Florida couple loses $46,000 in title dispute

Fraudsters recently scammed a Florida couple out of $46,000 in a title dispute. The couple lost the money when they wired the funds as allegedly instructed by their real estate agent. Unfortunately, the real estate agent’s account had been hacked and the hackers were able to divert to the funds.

Instead of going towards the home purchase, the fraudsters made off with the funds.

Such misfortune is not uncommon. Home buyers are wise to tread carefully when purchasing a home in Florida. Some proactive steps that can help reduce the risk of a similar problem include:

  • Communication. Do not wire funds without direct contact with the company. In this case, the real estate agent encouraged the couple to wire the funds. The agent did so without contacting the alleged title company. Law enforcement officers working this case have stated that the problem could have been avoided by verifying the information before moving forward with the transaction.
  • Common sense. Question any last-minute changes. Fraudsters will often send an email just before the scheduled closing informing home buyers that there has been a change. The email will include information on a need to transfer money prior to the closing. It is wise to call and confirm this information before taking action.

Part of the reason these schemes are so successful is the importance of a clear title during a real estate transaction. Without a clear title, a homeowner can have difficulties receiving full ownership of the property at the closing. Fraudsters will use this fear to encourage home buyers to move forward with the transfer as quickly as possible. Although prompt action may be required, a simple phone call can help to better ensure the money gets to the right location.

In this case, the couple has filed suit against the real estate agent and the real estate company in an attempt to recoup the funds.

No Comments

Leave a comment
Comment Information

Schedule A Consultation With An Attorney

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

Email Us For A Response

    Law Office of Kimberly A. Abrams & Associates, P.A.
    2699 Stirling Road, Suite A105
    Fort Lauderdale, FL 33312

    Phone: (954) 985-9715
    Fax: (954) 985-9745
    Map & Directions

Read Our Reviews on Google See Our Reviews on Facebook