How One Couple Lost Their Life Savings to a Real Estate Wire Scam—and How You Can Stay Safe in 2025

Imagine spending months searching for your dream home, only to have your hard-earned life savings stolen days before closing. This nightmare became a reality for Raegan Bartlo and her husband, who lost $255,000 to a real estate wire fraud scam in West Virginia.

Their story is a sobering reminder of the growing prevalence of sophisticated scams targeting homebuyers. Here’s how it happened and, more importantly, how you can protect yourself when buying a home.

How the Scam Unfolded

The Bartlos had found the perfect house and were counting down the days until closing. Then Raegan received an email—seemingly from her title company—with instructions for wiring the $255,000 down payment. Trusting the detailed instructions, she transferred the funds without a second thought.

A few days later, an email notified her of a change in the closing schedule. Feeling uneasy, she called her realtor, only to discover the devastating truth: the first email wasn’t from her title company. Her life savings had been wired straight to a scammer’s account.

“I just remember shaking a lot and not being able to think straight. To feel like everything you had saved for to be able to have financial stability was just taken,” Raegan shared.

How the Scammers Pulled It Off

The scammers who targeted Raegan Bartlo and her husband executed a sophisticated and carefully orchestrated scheme—a hallmark of real estate wire fraud. Here’s how they managed to steal $255,000 with just a few emails:

Step 1: Compromising the Title Company’s Email

The fraudsters likely gained access to the email system of the title company, mortgage company, or another party involved in the real estate transaction. This could have been through phishing emails, malware, or exploiting weak passwords. With this access, they monitored ongoing communications to identify buyers nearing the closing phase of their purchase.

Step 2: Studying the Communication

By reading through email threads, the scammers became familiar with the tone, style, and details of the transaction. They identified key individuals involved and collected information like closing dates, amounts, and even specific timelines for wiring funds. This allowed them to craft a highly convincing fake email at just the right time.

Step 3: Sending the Fake Email

A few days before closing, Raegan received an email that appeared to come from her title company. It included professional-looking details like company logos, accurate formatting, and language matching the earlier correspondence. The email provided specific wiring instructions for transferring the $255,000 down payment, which appeared legitimate due to the prior context of the transaction.

Step 4: Timing It Perfectly

Scammers are strategic about when they strike. In this case, the fraudulent email arrived just days before closing, a period when buyers are often overwhelmed and eager to finalize their purchase. This sense of urgency discouraged Raegan from questioning the instructions or seeking additional verification.

Step 5: Sealing the Fraud with a Second Email

To delay discovery, the scammers sent another fake email after the wire transfer was completed, claiming the closing time had changed. This additional email likely bought them time to move the stolen funds into accounts that were harder to trace or recover.

How to Protect Yourself From Real Estate Wire Fraud

Real estate wire fraud is a sophisticated and growing threat, but with the right precautions, you can safeguard your life savings. Here are streamlined tips to ensure your home-buying process remains secure:

Use Secure Payment Methods

• Opt for cashier’s checks instead of wire transfers. They satisfy Good Funds requirements and eliminate the risk of wire fraud. Title companies can verify checks directly with the bank prior to funding.

Know the Process and Set Expectations

• Learn your title company’s wiring policies. Many avoid emailing wiring instructions altogether. Ask your closing agent for a list of approved contacts and processes at the start of your transaction. Keep this information on hand for reference.
• Set up a verification system. Use a secret code or phrase that only you and key contacts (like your realtor or title agent) know, and never include it in emails.

Be Cautious with Emails

• Double-check email addresses. Look closely for irregularities like extra spaces, unusual domains, or subtle misspellings.
• Forward, don’t reply. Always forward emails instead of hitting “reply,” and type in a trusted email address manually to avoid spoofed addresses.
• Avoid email attachments and links. Even if the sender seems legitimate, attachments can contain malware that gives hackers access to your information.

Confirm Wiring Instructions Directly

• Call before you wire. Use an independently verified phone number to confirm wiring details with your title company or lender. Avoid using contact information from emails.
• Verify last-minute changes. Be suspicious of any changes to wiring instructions, especially on Fridays or before holidays. Always call a trusted number to confirm changes.
• Double-check with your bank. Ask your bank to confirm the recipient’s account name and details before sending funds.

Update Your Technology

• Ensure your security software, web browsers, and operating systems are up to date to protect against hacking attempts.

Verify the Transfer Immediately

• After wiring money, call the title company or agent within four to eight hours to confirm receipt of the correct amount.

What to Do If You’re a Victim of Wire Fraud

Acting quickly is crucial if you suspect fraud. Follow these steps:

1. Contact your bank immediately. Request a reversal or freeze of the wire transfer. Recovery is often possible only if you act swiftly.
2. Notify your real estate agent, title company, and all parties involved in the transaction.
3. File a complaint with the FBI’s Internet Crime Complaint Center (IC3) at www.IC3.gov.

A Hard Lesson and a Partial Recovery

Thanks to Raegan’s quick response, her bank froze the scammer’s account before all the funds were withdrawn, allowing her to recover roughly half of the $255,000. But the couple still had to dip into their retirement savings to finalize the home purchase—a painful financial and emotional setback.

What Homebuyers Can Learn

Real estate wire fraud preys on trust and urgency, exploiting moments when you’re least likely to second-guess instructions. As scams become more sophisticated, the best defense is vigilance.

Whether you’re buying your first home or upgrading to your dream property, always double- and triple-check wiring instructions. And if something feels off, trust your instincts—it could save your life savings.

Protect yourself, stay informed, and ensure that the only thing you’re handing over at closing is a pen to sign the paperwork, not your financial future.

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