Sending your closing funds is the moment wire fraud is won or lost. The good news is that protecting yourself takes only a few minutes and one simple habit. Let me give you the exact steps I want every client to follow.
Written by Anthony I. Shin, Esq., Principal and real estate attorney at Prime Title & Escrow
When it is time to move your funds for closing, a little discipline goes a long way. The criminals counting on a rushed transfer lose every time a buyer stops to verify. Here is how to send your money so it reaches me and no one else.
Verify every wiring instruction by calling a known, trusted phone number for my office, never a number printed in an email, and do it before you send a dollar. The American Land Title Association recommends exactly this, because a quick phone call defeats the scam at its only real weak point.
Verify the instructions by phone first
Before you initiate any transfer, call my office at a number you already trust and confirm the wiring instructions out loud: the bank, the account name, and the account number. Use a number you got independently, from a signed document, my official website, or earlier contact, not a number from the email itself, since a criminal can print their own number there. If the instructions you received match what I confirm by phone, you are clear to proceed. If they do not, you have just stopped a fraud.
Treat any change as a warning
Wiring instructions for your closing should not change. If you receive a message saying the account details have changed, that the bank is different, or that funds need to go somewhere new, do not act on it. The American Land Title Association flags last minute changes as a classic sign of fraud. Call me at a known number and confirm before doing anything. I cover the full set of signals in the red flags of wire fraud.
Send through your bank, in person or by trusted channel
Initiate the wire through your own bank using the verified details, ideally in person or through your bank’s secure online portal that you log into directly. Double check the account number against what you confirmed by phone. Take your time. There is no legitimate reason you must send closing funds within minutes of receiving a request, and that pressure is itself a warning sign.
Your job is not done when you hit send. Call my office at a known number shortly afterward to confirm the funds arrived. This matters because the recovery window for a misdirected wire is short, often measured in hours, and the sooner a problem is caught, the better the chance of stopping it. If anything is wrong, see what to do if you have been a victim and act immediately.
Ask about alternatives
Depending on your closing, you may not need a wire at all. Some transactions allow a certified or cashier’s check, which avoids the wire entirely, though larger amounts often require a wire under good funds rules. Ask me what your specific closing requires, and I will tell you exactly how your funds should move, which fits into your overall cash to close.
One more habit that helps: write down the verified bank, account name, and account number when you confirm them by phone, and check what you enter against that note when you set up the wire. A single transposed digit can send funds astray, and comparing against your own written record catches a mistake or a tampered detail before you hit send. It takes a few seconds and removes any doubt.
These steps apply on every closing across Virginia and West Virginia. None of them are complicated, and together they close the door on the most damaging fraud at a closing. When your closing approaches, I will give you my instructions through a secure channel and tell you exactly how to verify them.
Contact me before you wire anything and I will confirm your instructions and walk you through sending your funds safely.
Get Your Free Quoteor call (703) 552-4155Frequently asked questions
How do I send my closing funds safely?
Verify the wiring instructions by calling a known, trusted phone number for the title company, never a number from an email, and confirm the details before you send. Then call again right after sending to confirm the funds were received. Treat any change in instructions as a red flag.
Should I wire funds based on instructions I received by email?
Not without verifying them by phone first. Email is the channel criminals exploit. Even if the instructions look correct and come from a familiar address, confirm them through a phone number you already trust before sending anything.
What phone number should I use to verify wire instructions?
A number you obtained independently, such as one from a signed document, the company’s official website, or earlier in person contact. Never use a phone number printed in the email containing the wire instructions, because a fraudster can put their own number there.
Is it safer to bring a check or cashier’s check instead of wiring?
For some closings a certified or cashier’s check is an option and avoids the wire entirely, though large transactions often require a wire. Ask me what your closing requires, and whichever method you use, verify the details directly with my office first.
Should I confirm the funds arrived after I send them?
Yes. Call the title company at a known number shortly after sending to confirm receipt. The sooner a misdirected wire is caught, the better the chance of recovery, since the window is often measured in hours.
This article is general information about sending closing funds safely in Virginia and West Virginia. It is not legal or financial advice for your specific transaction. Always confirm wiring instructions directly with my office by phone before sending funds, and contact your financial institution and me immediately if you suspect fraud.