So, You Think You're Safe: Four Ways to Protect You & Your Investment

So, You Think You're Safe: Four Ways to Protect You & Your Investment

Buying a home is an exciting milestone, but it’s crucial to prioritize safety throughout the process. From safeguarding your finances to ensuring personal security, taking preventative measures can make all the difference. Here, I outline four key areas to focus on to enhance your safety as a homebuyer.

1. Protect Yourself Against Wire Fraud

Wire fraud is an increasingly prevalent threat in real estate transactions, where criminals impersonate trusted parties to trick buyers into wiring their down payment to fraudulent accounts. To prevent becoming a victim, stay vigilant:

• Verify Payment Instructions: Always confirm wiring instructions with a trusted source. Call your title company directly using a verified phone number—never rely on emailed contact information alone.

• Be Skeptical of Last-Minute Changes: Criminals often create urgency to push fraudulent requests. Be especially cautious if you receive any sudden changes to wiring instructions close to the transaction date.

- Double-Check Details: Before initiating any transfer, double-check that the bank account information matches the trusted source’s provided details.

Taking these important steps can save you from potential financial catastrophe and emotional stress.

2. Change Your Email Password Before Starting the Home-Buying Process

Cybercriminals often exploit a buyer’s weak email security to intercept sensitive information during real estate transactions. As a precaution, change your email password before you begin house hunting or communicating with agents, lenders, or title companies.

• Use a Strong Password: Create a password that’s unique and difficult to guess—a mix of upper and lowercase letters, numbers, and symbols is ideal.

• Enable Two-Factor Authentication (2FA): Adding an extra layer of security by enabling 2FA ensures that even if someone has your password, they still need a secondary code to access your account.

- Avoid Public Wi-Fi: Refrain from accessing email or handling financial details over unsecured public Wi-Fi networks, which can be breeding grounds for cyber-attacks.

This proactive step helps to secure your personal data and communications, minimizing the risk of fraud or identity theft.

3. Meet Your Agent First Before Touring Homes

While virtual introductions and phone conversations are great starting points, it’s essential to meet your real estate agent in person before you start visiting homes. This not only strengthens trust between both parties, but ensures you’re working with a legitimate professional who prioritizes your safety.

• Verify Credentials: Make sure your agent holds a valid real estate license in your state. Most state licensing boards have an online tool to verify agent credentials.

• Choose a Public Location: Your first meeting should take place in a public space, such as your agent’s office or a coffee shop.

- Share Your Plans: Let a friend or family member know where you’re going, who you’re meeting, and when you expect to return.

These precautions are especially valuable if you’re a first-time buyer or new to an area. A trustworthy agent will understand the importance of these measures and encourage them.

4. Get to Know the Neighborhood

Lastly, when you place an offer on a home, it’s tempting to let your excitement overshadow practical concerns. However, taking the time to investigate the neighborhood ensures you’re not just buying a house—you’re investing in a community where you’ll feel safe and happy.

• Visit at Different Times: A neighborhood that seems quiet during the day may have a different atmosphere in the evenings or on weekends. Visit at different times to get a comprehensive sense of the area.

• Talk to Neighbors: Conversations with current neighbors can offer invaluable insights into what it’s like to live there, including safety, noise levels, and community culture.

• Check Crime Rates: Online tools and local police department websites often provide crime statistics for specific areas. A bit of research can give you peace of mind about your decision. That includes checking the local sex offender registry that is available online.

- Consider Local Amenities: Factors like nearby parks, schools, and shopping centers contribute to safety and convenience. Ensure the neighborhood fits your lifestyle needs as well.

Buying a home is not just about finding the perfect property—it’s about ensuring the entire process is secure and informed. By taking precautions against wire fraud, securing your email, meeting your agent in person, and thoroughly researching the neighborhood, you can protect your investment and experience greater peace of mind. A safe and confident home-buying journey paves the way for a joyful life in your new home.

As always, if I can help you buy or list a home in Tacoma or anywhere in the Puget Sound, please text or call me at (206) 643-8845 or connect with me at www.erikmolzen@bhhsnw.com

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