Protecting your money is not a feature I add at closing. It is built into how I run every transaction. Let me show you the safeguards that stand between your funds and the criminals who target closings.
Written by Adam L. Engel, Esq., Principal and real estate attorney at Prime Title & Escrow
When you trust my office with your closing funds, you are trusting a system designed around safety. Here is what that system looks like in practice, so you know exactly how your money is handled from the moment it leaves your account.
Your money is held in a dedicated escrow account, my wiring instructions reach you through a secure and verified channel, I never change them by email, I confirm receiving details independently, and I disburse only according to the closing. Virginia law reinforces this with a tight recording and disbursement timeline.
Funds held in escrow
During your transaction, funds are held in escrow, which means my office holds them neutrally until the conditions of the closing are met. Nothing is released early, and nothing goes to anyone until the documents are right and the closing is complete. This neutral holding protects both buyer and seller, and it is one of the core jobs I describe in what a title and escrow company does.
Instructions delivered, and never changed, the safe way
I give you my wiring instructions through a secure, verified channel, and I tell you in advance how they will reach you. Just as importantly, my instructions do not change, and I will never email you a change to them. That single commitment defeats the most common scam, because if you ever receive a message claiming my details have changed, you will know immediately that it is fraud. This mirrors the guidance of the American Land Title Association, whose best practices call for independent verification of wire instructions.
Independent verification on my side too
Verification is not only your responsibility. On my side, I confirm receiving details independently before funds move, and I encourage you to call my office at a known number to confirm my instructions before you send. The protection works because both of us verify through trusted channels rather than relying on email, the channel criminals exploit. Your part is covered in how to send your closing funds safely.
Virginia’s Wet Settlement Act requires the settlement agent to record the documents and disburse the funds within two business days of closing, which I explain in the Wet Settlement Act. That legal timeline keeps disbursement prompt and accountable, so your funds do not sit in limbo and the process stays transparent from closing to disbursement.
A process built to stop fraud
Each of these safeguards closes a door that criminals try to open. Escrow keeps funds from being released early, secure delivery keeps instructions from being faked, the no email change rule makes any change request an obvious warning, and independent verification catches anything that slips through. Together they are why I treat your funds as something to be protected by design, not by luck.
There is also a human side to the protection. The people handling your funds are trained to recognize impersonation and social engineering, and the escrow account is reconciled so that what comes in and what goes out is accounted for. The American Land Title Association’s best practices treat that combination of trained people and documented procedures as central to keeping client funds safe, and it is the standard I hold my office to. None of it depends on you spotting a clever fake, which is the point, since the safeguards are built to hold even on a busy day.
These protections apply on residential and commercial closings across Virginia and West Virginia. If you ever have a question about how your funds are being handled, the answer is always a phone call away. I would rather explain the process ten times than have you wonder for a moment whether your money is safe.
Reach out and I will walk you through exactly how I hold and protect your closing funds from start to finish.
Get Your Free Quoteor call (703) 552-4155Frequently asked questions
How does a title company protect my funds in escrow?
By holding your funds in a dedicated escrow account, delivering wiring instructions through a secure and verified channel, refusing to change instructions by email, independently confirming receiving details, and disbursing only according to the closing. Virginia law also requires recording and disbursement on a tight timeline.
Will you ever change my wiring instructions by email?
No. My wiring instructions do not change, and I will never send a change to them by email. If you ever receive a message claiming my instructions have changed, treat it as fraud and call my office at a known number to confirm.
What is escrow and how does it keep money safe?
Escrow is a neutral holding of funds by my office during the transaction. The money is not released to anyone until the conditions of the closing are met, which keeps both sides protected and ensures funds are disbursed correctly rather than handed over early.
Does Virginia law affect how quickly my funds are disbursed?
Yes. Virginia’s Wet Settlement Act requires the settlement agent to record the documents and disburse the funds within two business days of closing, which keeps the process prompt and accountable.
How do I know wiring instructions really came from you?
Because I tell you in advance, in person or through a secure channel, how my instructions will reach you. If anything arrives differently, especially by an unexpected email, verify it by calling my office at a number you already trust before acting.
This article is general information about how funds are protected in escrow in Virginia and West Virginia. It is not legal or financial advice for your specific transaction, and procedures depend on the closing. Please confirm the handling of your funds with me directly, and contact me immediately if you suspect fraud.