DISCLOSURE REGARDING USE OF ELECTRONIC FUNDS TRANSFERS
IMPORTANT NOTICE ABOUT PROTECTING YOUR MONEY For a variety of good reasons, closing attorneys and others are requiring the use of electronic funds transfers (usually “bank wires”) for receiving money into and disbursing money from their bank account in real estate sales transactions. However, special care in arranging such transfers is required. ACTUAL EXPERIENCE TELLS US THAT INTERNATIONAL CRIMINAL ORGANIZATIONS ATTEMPTING TO STEAL LARGE SUMS OF MONEY ARE TARGETING AND ACCESSING EMAIL ACCOUNTS OF PARTIES AND AGENTS INVOLVED IN REAL ESTATE TRANSACTIONS IN NORTH CAROLINA AND ELSEWHERE AND CONDUCTING SCAMS. BUYERS: Do not communicate confidential personal information with the attorney through your agent. OBTAIN WIRING INSTRUCTIONS DIRECTLY FROM THE CLOSING ATTORNEY. Before sending any wire, YOU SHOULD CALL THE CLOSING ATTORNEY'S OFFICE TO VERIFY THE BANK WIRING INSTRUCTIONS. If you later receive any change in wiring instructions, they should be presumed fraudulent. Do not send any funds in response to those instructions. Instead, contact the closing attorney's office immediately. SELLERS: If your sale proceeds are to be wired to you, IT IS RECOMMENDED THAT YOU HAND-DELIVER WRITTEN WIRING INSTRUCTIONS TO THE CLOSING ATTORNEY AT OR BEFORE CLOSING. If you are unable to attend closing, you may be required to send an original notarized directive to the closing attorney's office containing the wiring instructions. At a minimum, YOU SHOULD CALL THE CLOSING ATTORNEY'S OFFICE TO CONFIRM THE WIRE INSTRUCTIONS. Be aware that attempting to change wiring instructions through a phone call should NOT be permitted by you or the attorney. Do not communicate through your agent. MAKING THE CALL: YOU SHOULD PHONE THE CLOSING ATTORNEY'S OFFICE AT A NUMBER THAT IS INDEPENDENTLY OBTAINED TO CONFIRM WIRING INSTRUCTIONS. Reference to the firm’s website for contact information should be made to assure correct contact information. You should not rely on a phone number in an email from the closing attorney's office, your real estate agent or anyone else. For “back-to-back” closings, have closing attorneys communicate directly with one another. ________________________________________________________________________________________________ ACKNOWLEDGMENT AND RELEASE . The undersigned acknowledge(s) and understand(s) that there are risks associated with bank wire transfers that are not within the reasonable control of Coldwell Banker Howard Perry and Walston and I/we hereby release and discharge Coldwell Banker Howard Perry and Walston and its agents from any and all claims, demands, rights and causes of action of whatsoever kind and nature not caused by the gross negligence of Coldwell Banker Howard Perry and Walston or its agents or employees arising directly or indirectly out of any wire transfer I/we send or receive or intend to send or receive in connection with any real estate transaction in which Coldwell Banker Howard Perry and Walston represents or is working with me/us. ______________________________________ ____________ Buyer Date ______________________________________ Name of Entity Buyer
______________________________________ ____________ Buyer Date
By: ___________________________________ _____________ (signature of authorized signer) Date
July 2020 Revision ©2020 Coldwell Banker Howard Perry and Walston
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