Protecting Your Closing Funds: A Guide for Home Buyers and Sellers in Northeast Ohio

Buying or selling a home is stressful enough. The last thing anyone needs is a scammer trying to hijack your closing funds at the finish line.

Unfortunately, “wire fraud” and “closing scams” have become common enough that it’s something every buyer and seller in Northeast Ohio should know about—especially during busy seasons when email threads are flying and everyone’s juggling timelines.

The good news: this is one of those problems that’s very preventable… as long as you know the playbook.

Below is a simple, no-panic guide to protecting yourself (and your money) before closing day.

What Is a “Closing Scam” (In Plain English)?

Most real estate wire fraud follows a similar pattern:

1. A scammer pretends to be someone you trust (title company, lender, agent, or even a real email thread).

2. They send “updated” wiring instructions or a message that creates urgency.

3. You wire funds to the wrong account…and the money disappears fast.

   
   

It’s not about being “careless.” These messages can look extremely convincing, especially when you’re busy, excited, and trying to meet a deadline.

Why This Hits Northeast Ohio Homes Especially Hard

Mahoning County has a wide range of homes and price points—but a wire transfer is a wire transfer. Whether it’s earnest money, a down payment, or seller proceeds, the amounts are big enough to be life-changing.

And because so much communication happens by email and text during a transaction, scammers count on one thing: someone being in a hurry.

The Biggest Red Flags (AKA: Your “Pause Immediately” List)

If you see any of these, stop and verify before you do anything:

• “We updated the wiring instructions.” (Especially last-minute.)

• Any pressure to act quickly: “Need this today,” “Urgent,” “Time sensitive.”

• A new email address or subtle misspelling (one extra letter is all it takes).

• “Reply here” messages instead of calling a known number.

• Any request that feels out of character for the person sending it.

• Wiring instructions sent by email without a phone verification step.

  
  

In real life, legitimate wiring instructions typically don’t change at the last minute. That “quick update” is one of the most common scam moves.

The Non-Negotiable Rules Before You Send Money

If you only remember one section of this blog, make it this one.

Rule 1: Never Wire Money Based on an Email Alone

Email can be spoofed. Threads can be compromised. People can be impersonated.

Rule 2: Verify by Phone Using a Number You Already Trust

Do NOT use the number in the suspicious email. Use a number from:

• A business card you already have

• The title company’s official website

• Your closing paperwork

  
  

Rule 3: Verify the Details Out Loud

Have the title/closing office confirm:

• The recipient name

• The bank name

• The routing number

• The account number

• The amount

• When/where to send it

  
  

Rule 4: After You Send the Wire, Call Again to Confirm Receipt

Don’t assume it arrived. Confirm it arrived—immediately.

Rule 5: If Anything Feels “Off,” Slow Down

No legitimate professional will be upset that you verified. In fact, they’ll respect you for it.

(And if someone does get upset? That’s your sign to verify even harder.)

Sellers: This Applies to You Too

Sellers can be targeted with:

• Fake payoff instructions

• Fake “proceeds” updates

• Fake requests to change where funds are sent

  
  

If you’re selling, be cautious about any last-minute changes to disbursement instructions. If you’re asked to “confirm” anything about accounts, verify with the title company using a known number.

A Quick “Screenshot Checklist” for Closing Week

Before you send any money:

✅ I confirmed wiring instructions by phone using a known, trusted number

✅ I did NOT use a phone number or link from an email

✅ I verified the account + routing numbers out loud

✅ I’m not responding to “last-minute changes” without a second verification

✅ I will call after sending to confirm receipt

Print it. Screenshot it. Tape it to your forehead if you need to. (Kidding. Mostly.)

If You Think You’ve Been Targeted (Or Already Sent a Wire)

Time matters.

1. Contact your bank or wire company immediately and ask if the wire can be recalled.

2. Notify your title/closing office right away (using a known number).

3. Report it to the FBI Internet Crime Complaint Center (IC3).

   
   

The faster you act, the better your chances of stopping or recovering funds.

Final Thought

Real estate is built on trust—and scammers take advantage of moments when people are excited, distracted, and trying to meet deadlines.

If you’re buying or selling in Mahoning County this year, keep it simple:

Don’t rush.

Verify by phone.

And when in doubt, call your title company before you click anything.

If you ever receive a message that makes you pause, we’d rather you call and double-check than take a risk with your closing funds.

Additional Resources for Home Buyers and Sellers

If you’re looking for more information on how to navigate the real estate market safely, check out The Brian Blevins Team at Howard Hanna. They’re here to help you achieve your property goals with expert advice and a deep understanding of the local market.

Stay informed, stay safe, and happy house hunting!