Spate of property transaction scams leads to spring warning

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 does, this year, 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.