Home Fraud Alert! How to Safeguard Your Real Estate Transactions in the Digital Age

The Jones Zone

In this episode of The Jones Zone, host Darryl Jones is joined by Walt Tamulinas, a top real estate agent, to discuss all things real estate fraud. Unfortunately, this is a topic that is becoming more prevalent in the real estate industry due to many factors such as AI. With buyers at risk, Walt and Darryl take some time in this episode to discuss how the fraud is happening and how home buyers can protect their investments. They cover various types of fraud, including wire fraud, fraudulent deed transfers, and strategies to safeguard against them.

Episode Highlights:

• Wire fraud is a significant issue, where criminals hack emails and provide false wire transfer instructions to steal funds intended for escrow.
• Criminals can clone voices using AI to sound like legitimate parties in a transaction.
• Vacant properties are vulnerable to fraudulent deed transfers, where criminals record fake deeds and sell the property.
• Subscribing to property monitoring services and hiring professional property managers can help detect suspicious activity.

Key Questions Asked:

1. How do we prevent real estate fraud in today's technological age?
2. What are the common methods used by criminals to perpetrate wire fraud?
3. How can fraudulent deed transfers occur, and how can homeowners protect themselves?
4. What steps can be taken to verify the authenticity of wire transfer instructions and prevent fraud?
5. How can property monitoring services and professional property managers help detect and prevent fraud?
6. Can recording a lien or notice of contract on the property be an effective safeguard against fraudulent transfers?

Guest Information:

Walt Tamulinas - Real Estate Broker

Email: [email protected]

Website: https://eranoc.com/

Contact Darryl:

Darryl & JJ Jones Real Estate

Email: [email protected]

Phone: [phone]