There’s been a string of property-related scams reported in the lead-in to spring, with home buyers urged to stay on high alert.
On the cusp of the busiest time of the year for real estate transactions, InfoTrack has reported a 5 per cent increase in the number of property contracts being prepared for new sales.
But the excitement around spring selling has come with a caveat: be wary of your cash.
That’s the message from InfoTrack’s head of Securexchange, Alexander Antal, who is urging buyers to remain vigilant, especially as the market heats up, and they may feel the pressure to purchase quickly.
The warning follows a number of scams in recent weeks.
In August, an NSW couple saw their $49,000 settlement funds scammed, while a Victorian couple was scammed out of $500,000 after their conveyancer’s email was hacked.
According to Antal: “Cyber criminals have their sights set on property transactions because not only are deposits in the tens of thousands and upwards, copies of passports and driver licenses are exchanged to verify ID, potentially exposing buyers to identity theft and fraud.”
He warned that the transaction process “is often unknown territory for home buyers”.
