Don't Do That! Real Estate Mistakes to Avoid

·30 min·2 clips

A first-time homebuyer lost $30,000 to wire fraud, taking two years to recover her life savings.

The warning lands fast. Melissa Tracy opens by steering listeners away from mistakes that can make a real estate deal go sideways. Wire fraud gets the most urgent attention. The guest says buyers should never reply to an email asking them to send funds, and should avoid calling numbers that arrive by text or email when money is involved. That sounds basic until the story hits. A first-time buyer, a single woman working for the federal government, was contacted close to closing during the COVID-era market. She lost just under thirty thousand dollars, which was all the money she had ready for closing. That theft could have knocked her out of buying as prices kept climbing. Her parents drove almost twelve hours to help. The recovery came after funds moved from one bank into another and a cashier's check was seized. Even then, it took two years. The takeaway is not fancy: verify money instructions before sending anything. The episode also looks at emotional judgment, especially the urge to fall hard for a home and let that feeling steer the whole deal. Later, Adam explains appraisal risk with a luxury property over a million dollars. Personal touches can make a place feel special to a buyer, but they may not help the appraisal. A wine cellar or backyard fire pit might be fun; the appraiser may still see little extra market value. If the home does not appraise for the full price, the buyer needs to know how the financing works before panic shows up. Ask early. Slow down around money. Enjoy the house, but protect the transaction.

As heard by us

A buyer-safety episode that turns fraud warnings and regret avoidance into practical closing-day habits.

Real Estate Today spends this hour on the mistakes that can turn a home purchase into an expensive lesson, and it keeps its eye on prevention.

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Why you'd press play

Protect your down payment before closing day turns into a scam target.

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