Top Ten Ways to Prevent Fraud During Real Estate Closings

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At Lakeside Title, we are your resource for answering frequently asked questions for buyers, sellers, lenders, and real estate investors at any point of the transaction. Let our team and title insurance providers protect you from fraud during a real estate closing. 

Steps to Protect Yourself From Fraud in a Closing Transaction 

1. Start With Title Search and Examination

Lakeside Title’s team can review property records to confirm legal ownership and identify any liens or claims that could indicate fraud. 

2. How Title Insurance Coverage Helps Prevent Fraud 

 Title insurance coverage provides protection for buyers and lenders against losses from undiscovered liens, forgery, or fraudulent claims on the property. 

3. Verifying Buyers, Sellers, and Transaction Participants

Lakeside Title can confirm the identities of buyers, sellers, and any other party involved in your transaction to ensure they are authorized and acting legitimately. 

4. Handling of Escrow and Documentation

Let our team manage funds and documents to reduce the risk of fraud during wire transfers, contract preparation, and the signature process. 

5. Role of Attorneys in Fraud Prevention

In some cases, depending on the state and local laws for your transaction, legal advice is recommended to verify documents and parties involved in the transaction. 

6. Lakeside Title Can Advise on Red Flags 

The Lakeside Title team is well-versed in common scams and steps to take if fraud is suspected. Have your team at the ready for your next transaction!

7. Avoiding Wire Transfer and E-Closing Scams  

Lakeside can manage your wire transfer and e-closing with secure instructions, using strict procedures and state-of-the-industry technology. Learn more about our commitment to security

8. Detecting Scams During a Closing Process 

Our team is trained to detect scams and fraudulent behavior during transactions, and has a wealth of experience in a wide variety of closings.

9. Remote Online Notarization Safeguards E-Closings

We offer Remote Online Notarization (RON), which adds layers of security in verification of identity, secure digital documents, online recordings of the transaction, and more. Learn more about RON.

10. Claims Assistance and Resolution 

In the event fraud does occur and is discovered after your transaction, Lakeside can help you file a claim and ideally recover losses through title insurance coverage. 

Having the right team and the right protections on your side is invaluable. 

Contact Lakeside Title Company today to start working with one of our experts in title insurance and real estate transactions.  

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