Real estate Q&A: How can sellers protect their money?

FORT LAUDERDALE, Fla. – March 28, 2019 – Question: I am getting ready to sell my house. I spent many years paying off my mortgage and am worried about something terrible happening to my proceeds. I need that money to buy a condo and retire. How can I protect myself? – Randall

Answer: You are right to be cautious. Financial crime and fraud are a problem in the real estate industry. From counterfeit cashier’s checks to fake deeds, criminals can be very creative in separating you from your money. Fortunately, even with the problems in the industry, almost all closings occur without a problem. However, you do have to be diligent to make sure that you are not a victim.

Rather than repeat the advice found quickly with a web search, I am going to give you some tips I have picked up over the thousands of closings I have been part of. To be clear, this is in no way meant to be an inclusive list, but rather my supplement to the conventional wisdom.

Source: © 2019 Sun Sentinel (Fort Lauderdale, Fla.), Gary M. Singer. Distributed by Tribune Content Agency, LLC.

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