A title is a legal document that verifies your right to own the home you are purchasing, while escrow services provide a secure place to hold money and contracts until the closing of a home sale. Both of these components are crucial to the homebuying process. Unfortunately, in recent years, there has been an influx of scams associated with titles and escrow services, resulting in substantial money loss for homebuyers. Here are some tips to help you protect yourself from these criminal activities.

Confirm Money-Wiring Instructions Beforehand

Many scams trick homebuyers into wiring money to scammers' accounts. The scammer masquerades as an escrow service and will often contact the buyer directly. Their phone calls, emails, and websites all come off as professional and legitimate, and they may use the name and logo of the lender you're dealing with, adding further credence to their disguise. To prevent wiring money to a scammer, always call your lender directly and confirm the money-wiring process with them. Get the name of the person you speak with, and after the conversation, hang up and call back to verify that they work there.

Don't Click on Links

Never click on links in unsolicited emails or texts regarding escrow services, as this could give scammers access to your information. It could also download damaging malware to your computer. Again, if you're unsure whether the source of the email or text is trustworthy, call the lender directly.

Never Wire Money to an Individual

Title and escrow scams will often ask homebuyers to wire money in the name of a particular person, who they typically tell you is your agent at the company. Any reputable business will operate under their corporate name and will have all money wired to the company, not to an individual. If you're directed to wire money in the name of a certain individual, it is a major red flag that something is not aboveboard with the transaction.

Choosing a trusted title and escrow service is essential when purchasing a home. Scarab Title & Escrow Services, LLC, works with customers in Pasco County, FL, and throughout the state. They are a professional escrow and title company with years of experience, expertise, and integrity, and they are committed to helping you navigate your real estate closing with ease and a minimum of stress. They are always happy to discuss their escrow and title services and provide you with the peace of mind you need; call (727) 378-4553 or visit their website today.