In the digital era, fraudsters have upped their game to attempt to steal, connive, and deceive. A lucrative target for criminals is now the real estate industry at large. All parties involved in a real estate transaction must take extra steps to ensure minimal risk when dealing with sensitive information and funds. Fraudsters are constantly lurking for vulnerabilities at every corner of the internet, especially when it comes to online banking transactions. A known email scam called phishing is being utilized to redirect clients’ money into fraudulent accounts. “Phishing is a fraudulent practice of sending emails from a reputable company to convince individuals to reveal personal information, such as passwords and credit card numbers”. In these cases, fraudsters are hacking into email accounts of lenders, real estate agents or title companies, pretending to be an employee, and then providing false information, such as fraudulent wiring instructions. If their attempts are successful and funds are delivered to a fraudulent account, the funds are virtually impossible to recover. Because of this, Federal Title & Escrow Company will only send wire instructions to clients via email, in a secured format and only upon request. Clients should never accept wiring instructions from any other party. So that our clients can also take their own precautionary steps when sending funds, we’ve prepared the below wire verification checklist:
- Verify that the wiring instructions are received, in a secured email format, from Federal Title & Escrow Company.
- Have your bank verify that the name on the account of the receiving bank is Close It! Title Services, Inc. D/B/A Federal Title & Escrow Company.
- If the wiring instructions you have received do not display the receiving bank as United Bank and/or do not display the recipient or beneficiary as Federal Title & Escrow Company and/or Close It! Title Services, Inc., or a combination thereof, you should immediately STOP and contact our office by phone at 202-362-1500.
A beautiful Victorian style townhouse located in LeDroit Park has an open floor plan with a modernized gourmet kitchen, perfect for hosting and entertaining. The unit includes 3 bedrooms and 3 spa like bathrooms with a bonus outdoor patio area on the property. The town home spans over 1,800 square feet and could be yours just in time for a Labor Day weekend celebration for only $869,000.
- Recess lighting throughout the home
- Driveway and street parking
- Off bedroom balcony
- Pets allowed
- Walk Score® – 95 Walkers Paradise
- Transit Sore – 78 Excellent Transit
- Bike Score – 84 Very Bikeable
Assuming the home buyer puts down 5 percent on a conventional loan, their cash to close would be $67,012 and monthly payments would be approximately $3,572. For a more accurate picture of what the cash-to-close figures would be for you, including the seller’s net proceeds and such, visit the CLOSE IT! web version calculator here or download the CLOSE IT! iOS app to your smart phone or tablet.
Feel free to tell your real estate agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing cost by ordering online. Always remember, it’s your choice in selecting a settlement company when it’s time to close.
We’ve made our way to the D.C. side of Chevy Chase to see about a wonderful home filled with lots of light, charm and character. It’s listed for $935,000.
Featuring 3 BR / 1.5 BA and a bonus room, this detached single family home also offers lots of room to grow: walk-up attic, unfinished basement and studio in the back yard. A lovely sunroom overlooks a terraced garden and deck for cookouts and entertaining.
Assuming a homebuyer puts down 20 percent on a conventional loan, her cash to close number will be approximately $213,782.36. Monthly payments will then be around $4,432.84. For a complete picture of cash-to-close, including the seller’s net proceeds from this home-sale scenario, check out the Close It! Web version
or download the free Close It! iOS app
An ideal living option for someone who prefers a carless lifestyle, we’ve ventured out from our second office location in Logan Circle to check out a 1BR / 1.5 BA condo. It’s listed for $725,000.
This unit features a top-of-the-line gourmet kitchen with breakfast bar and separate dining room space. Southern exposures flood the open floorplan with lots of sunlight. The master bedroom offers two walk-in closets and en suite bathroom. The location – steps from some of the city’s best restaurants and retailers – is tough to beat. Designated parking is available for an additional sum.
Assuming a homebuyer puts down 20 percent on a conventional loan, her cash to close number will be approximately $164,935.99. Monthly payments will then be around $2,686.80, including the $544 HOA fee. For a complete picture of cash-to-close, including the seller’s net proceeds from this home-sale scenario, check out the Close It! Web version or download the free Close It! iOS app.
It's official - realtors and home buyers can NOW send earnest money deposits electronically and securely to Federal Title & Escrow Company with ZOCCAM!
This is a leading banking application for an Iphone or Andriod that deposits and transfers escrow money instantly, anytime, day or night- from your pocket!
Simply take a picture of the front and back of your earnest money deposit check, select Federal Title & Escrow Company's escrow account, confirm the information to be accurate, then select send. The agent and home buyer will be immediately notified that the escrow money deposit was received.
This is a game changer for agents and home buyers because it saves time, money, and is hassle free with just a simple click of an app on your iPhone or Android. Oh and it's FREE, SAFE, and SECURE!
ZOCCAM doesn’t contain or hold any financial account information, and all content is encrypted and sent using state-of-the-art security techniques that ensure every client’s non-public personal information is protected.
View this short ZOCCAM demonstration, download the app, and begin to use today!
- View the step-by-step instructions here (please make sure your location services are turned ON for the platform to work properly)