Selling a home can be an exciting experience, especially during retirement years. However, it can also be a stressful time, and opportunistic criminals may take advantage of sellers who have a large sum of cash on hand or a well-funded bank account.
The risk of fraud, theft, and identity scams is real. When a property sale is recorded, sensitive information can become part of the public record, including the seller's name, mailing address, property history, and sale price. This information can be used by scammers to target vulnerable individuals, particularly those who have recently sold a property and may be distracted by a move.
Public records can reveal a significant amount of information, including data brokers that collect property information and sell it to real estate investors, marketing companies, and lead generation services. This can create a fresh verified data point for individuals who are downsizing, making it easier for scammers to build a convincing profile.
Data brokers and people-search sites can scrape, match, and package this information, making it easier for scammers to access sensitive details. This can also lead to scammers impersonating real estate agents, title companies, or escrow officers near closing, sending fake wiring instructions or claiming payment details have changed at the last minute.
To reduce the risk of identity scams, it's essential to limit what enters the public record and disrupt the spread of information once it appears online. You can also opt for a data removal service that automatically contacts data brokers on your behalf and requests the removal of your information.
Getting personal information out of circulation can be a time-consuming process, as there are hundreds of data brokers with their own opt-out processes. However, using a data removal service can make this process more efficient, as it can cover over 420 data brokers and people-search sites with an unlimited plan.
Alternatively, you can take proactive steps to reduce your exposure, such as asking for your home to be blurred on map services, removing risky listing photos, and running a free exposure scan to see where your personal information is appearing online.
By taking these steps, you can protect your privacy and make yourself a much harder target for scammers. It's essential to be vigilant and proactive when it comes to your personal information, especially during a significant life change like selling a home.
