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

What is real estate wire fraud, and how do I protect my proceeds on a Saskatoon sale?

Real estate wire fraud happens when a criminal intercepts an email thread close to possession day and sends fraudulent banking instructions so your sale proceeds land in their account instead of yours. The Law Society requires your lawyer to confirm payment details by phone, never by email alone.

The fraudulent message usually mimics your lawyer's office, sometimes from a nearly identical email address, and asks you to confirm or update account details right before funds are due to move, which is exactly when a seller is distracted and least likely to double-check.

The protection is simple and always available: call your lawyer's office using a number you already have on file, not one supplied in the suspicious message, before confirming or sending any banking information tied to legal fees, typically $800 to $1,500, or your sale proceeds.

Joel Dyck raises this risk with every seller as possession day approaches, since a two-minute phone call is the entire defence. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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