TL;DR: Wire fraud in real estate usually starts with a fake email that changes wire instructions at the last minute. Coastal buyers can reduce risk by verifying every payment request through a trusted, separate channel and by treating urgent payment changes as a red flag.
Buying along the coast is exciting, but it also creates a target-rich environment for scammers. Real estate wire fraud works because it usually shows up when buyers are busy, transactions are moving fast, and money is already in motion. In NAR’s consumer guide, cybercriminals are described as impersonating agents, title companies, lenders, and attorneys to redirect funds at closing.
The risk is not theoretical. NAR cites FBI IC3 data showing annual losses from wire fraud of $446.1 million in 2022. The good news is that a few simple checks can make a big difference, especially in coastal markets like Myrtle Beach, North Myrtle Beach, and the broader Grand Strand, where buyers often juggle timing, distance, and remote closings.
How the scam works
Wire fraud usually begins with email compromise. A scammer monitors a transaction, waits for the closing window, then sends fake wiring instructions that look legitimate. Because the message often arrives at the exact moment a buyer expects payment details, it can feel routine.
That is what makes the scam effective. The email may use a very similar address, copied logos, or urgent language that pushes the buyer to act quickly. Coastal transactions can be especially vulnerable when buyers are moving in from out of town and communicating across multiple parties and time zones.
Typical fraud pattern
| Step | What happens | Why it works |
|---|---|---|
| 1 | Scammer gains access to email or monitors communications | They learn the closing timeline and transaction details |
| 2 | Fake wire instructions are sent | The message appears legitimate and matches the transaction context |
| 3 | Buyer sends funds to the fraudulent account | Wire transfers move quickly and are difficult to reverse |
| 4 | Fraud is discovered after the transfer | The recovery window is extremely limited once funds are sent |
Coastal buyer red flags
Coastal buyers should slow down when a payment request changes unexpectedly. NAR recommends verifying wiring instructions in person when possible, or by calling a trusted phone number that you already have—not the number in the suspicious email. Horry County also offers a free Recording Notification Service that alerts owners when a document is recorded in their name, which adds another layer of protection for property-related fraud.
In practice, the biggest warning signs are simple. A last-minute change in bank account details, pressure to wire money immediately, or a message that looks “almost right” should all trigger a pause. If the property is in Horry County, owners can also enroll in the county’s free alert system to monitor recordings tied to their name.
Quick protection checklist
| Safeguard | What to do |
|---|---|
| Verify wiring instructions | Confirm by phone using a known, trusted number (not one provided in the email) |
| Slow down urgent requests | Treat last-minute or same-day changes as suspicious and verify independently |
| Use trusted contacts | Confirm details directly with your agent, closing attorney, or title company |
| Monitor local records | Enroll in Horry County’s Recording Notification Service to track property-related filings |
What buyers should do
The safest approach is to build wire-fraud prevention into the transaction from day one. NAR advises buyers to talk through how earnest money, down payments, and closing funds will be handled before they ever receive wiring instructions. That conversation matters because it creates a reference point if a fake email arrives later.
It also helps to remember that most buyers already rely on professional guidance. NAR’s 2025 buyer profile says 88 percent of buyers purchased through a real estate agent or broker, and 91 percent would use their agent again or recommend them. That kind of support is useful not just for finding the right home, but also for slowing down fraud attempts and confirming the right next step.
Simple rules to follow
Confirm wiring instructions by phone with a known contact.
Never rely on email alone for fund transfers.
Question any sudden change in payment instructions.
Keep your closing team informed if you receive a suspicious message.
Use Horry County’s recording alerts if you own property locally.
Carolina Crafted Homes stays current on Myrtle Beach market trends and can answer questions about wire fraud in real estate. Reach out anytime for guidance—no pressure, just straightforward expertise.
FAQS
How do scammers target coastal buyers?
Scammers often target buyers during the closing phase, when wire transfers are expected and everyone is moving quickly. They may impersonate a title company, lender, or agent and send fake instructions that look official. Coastal buyers can be especially exposed when they are handling remote closings or coordinating from another market. The safest response is to verify any payment change through a trusted, separate channel.
What is the safest way to verify wire instructions?
The safest method is to call the recipient using a phone number you already trust, not one that appears in the email. NAR recommends getting instructions in person if possible and confirming any changes independently. If something changes at the last minute, pause and verify before sending money. A few extra minutes of checking can prevent a very expensive mistake.
How big is the wire fraud problem?
NAR cites FBI IC3 data showing annual losses from wire fraud of $446.1 million in 2022. More recent industry reporting also shows that buyer cash-to-close fraud remains common and costly, with median losses reported at $239,850 in a 2026 fraud report. The exact numbers vary by source and year, but the overall risk remains significant.
Does Horry County offer any fraud alerts?
Yes. Horry County’s Register of Deeds offers a free Recording Notification Service that sends alerts when a document is recorded in your name. That service can help property owners spot unauthorized deed transfers or mortgage filings sooner. It does not prevent every scam, but it is a useful monitoring tool for local owners.
What should I do if I already sent money to a scammer?
Act immediately by contacting your bank, the closing team, and law enforcement right away. Wire transfers move quickly, so speed matters. You should also file a report with the FBI’s Internet Crime Complaint Center, since wire fraud is typically investigated as an internet crime. If the transfer involved local property records, check for any suspicious filings through county services.
