Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

I need to close fast. Does moving quickly make me more vulnerable to wire fraud?

Closing quickly does not by itself make you more vulnerable to wire fraud, but a rushed closing gives you less time to notice a scam, so speed makes basic verification habits more important, not less. In Saskatchewan every sale closes through a lawyer's trust account, and the Law Society regulates how that trust money must be handled.

The actual fraud risk is usually a fake email claiming to be your lawyer with new wire instructions sent right before possession, timed to catch you when you are moving fast and not double-checking. Calling your lawyer's office directly, using a phone number you already had before the transaction rather than one from the email, catches nearly every version of this scam before money moves.

Real estate wire fraud losses reported to Canadian banks and to the Competition Bureau have run into real money across the country in a single year, which is why the extra 10 minutes it takes to call and confirm matters more than the days you might save by skipping it. None of this changes because your timeline is short, whether you close in 2 weeks or 2 months.

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