As a real estate professional, you do your best to educate and protect your clients from fraud and scams. You watch for anything suspicious, such as requests to sell a property below market value, communication only through electronic means, or requests for a remote closing using a specific notary. But once you feel a real transaction is opened, what then?
If you are looking to enhance the security and protection of your real estate transactions, consider what your title company is proactively doing to prevent fraud and ensuring a smooth closing process. With scams targeting real estate transactions on the rise, it’s crucial to partner with a title company that prioritizes fraud prevention measures.
Key Points for Consideration:
- Internal Controls: How does your current title company oversee the wire transfer process? Are they equipped with robust internal controls and procedures to protect against wire fraud?
- Financial Information Security: What tools or platforms does your current title company use to collect financial information? Do they have adequate security controls in place to safeguard buyer and seller information?
- Title Investigation and Research: How thoroughly does your current title company investigate and research the background of titles to ensure there are no legal or financial issues?
- Customer Education: Does your current title company educate you and your clients about the risks of real estate fraud and scams? Do they provide sufficient warnings and guidance to protect against these risks?
- Client Protection Measures: What proactive measures does your current title company have in place to protect clients from fraud and scams? Are they committed to ensuring a secure transaction process?
- Experience and Reputation: Consider the level of experience of your current title company in handling real estate transactions.
By evaluating these factors and considering a switch to a title company that is more proactive in preventing fraud, you can enhance the security and protection of your real estate transactions, providing peace of mind to you and your clients.
For more information about avoiding real estate scams click here: https://landtitleco.net/avoiding-real-estate-scams-6-things-to-consider/