How to Avoid Wire Fraud When Closing on a Home Near Miami Township, Ohio

Buying or selling near Miami Township and Miamisburg? Here's how Ohio's good-funds law works, how closing-day scams happen, and the exact steps that keep your money where it belongs.

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Published October 20, 2026 · Updated October 20, 2026 · By Douglas Haney & The Haney Group, Springfield, OH

Douglas Haney leads Douglas Haney & The Haney Group from Springfield and helps buyers and sellers navigate Miami Township, Miamisburg, Dayton, and the surrounding Ohio market every day.

Quick Answer

To avoid wire fraud when closing near Miami Township, Ohio, never trust wiring instructions that arrive by email or text. Call your title company at a number you verified yourself before sending a dollar. Under Ohio's good-funds law, closing funds above $10,000 generally must arrive electronically, usually by wire, so expect to wire and verify every time.

If you're closing on a home in Miami Township, the biggest check you'll write probably won't be a check at all. It'll be a wire transfer. And that's exactly the moment criminals are waiting for.

Here's what makes wire fraud so dangerous: a wire usually can't be pulled back once it lands in a scammer's account and gets moved. The email that tricks you looks right. It has your title company's logo, your closing date, even your agent's name. The only thing that's changed is the account number.

We walk every buyer and seller through this before closing — whether they're buying near the Dayton Mall corridor in Miami Township, in Miamisburg, or back home in Springfield. Here's the playbook.

$275.1M Real estate fraud losses reported to the FBI in 2025

12,368 Real estate fraud complaints filed with IC3 in 2025

22% Homebuyers who received a fraudulent or suspicious message during closing

Sources: HousingWire (FBI IC3 2025 report, April 2026) · CertifID 2026 State of Wire Fraud Report

Does Ohio Law Require You to Wire Your Closing Funds?

In most cases, yes — once your funds top $10,000. Ohio's good-funds law, Ohio Revised Code 1349.21, bars an escrow or closing agent from disbursing money unless it's "good funds." Cash, personal checks, cashier's checks, certified checks, and money orders only count if they add up to $10,000 or less. Above that, the money generally has to arrive electronically and be immediately available — and in practice, that means a wire.

Here's the part that trips people up: a lot of older articles online still say the limit is $1,000. That was the old rule. Ohio raised the threshold to $10,000 in 2017. If you're reading an old guide, you're reading outdated law.

So what does that mean for you? If you're putting 3%, 5%, or 20% down on a home near Miami Township, your cash to close almost certainly clears $10,000. You're going to wire. And because you're going to wire, you need a verification routine you follow every single time — including for your earnest money deposit, which is often the first wire a scammer tries to intercept.

How Big Is the Real Estate Wire Fraud Problem?

It's big, and it jumped in 2025. According to the FBI's Internet Crime Complaint Center data reported by NAR, reported real estate fraud losses climbed from about $173 million in 2024 to more than $275 million in 2025. And those are only the cases people reported.

Year	Real Estate Fraud Complaints (IC3)	Reported Losses
2022	11,727	$397 million
2023	9,521	~$145 million
2024	9,359	$173+ million
2025	12,368	$275.1 million

Sources: NAR · HousingWire (FBI IC3 annual report data)

Buyers aren't the only targets. CertifID's 2026 State of Wire Fraud report found that buyer cash-to-close scams made up 30% of the cases its recovery team handled, with a median loss of $239,850. Seller net-proceeds fraud was 12% of cases, with a median loss of $343,497 — that's when a scammer convinces a seller to "update" where their sale proceeds get sent.

First-time buyers deserve extra attention. CertifID's 2025 report, as covered by NAR, found first-time buyers were about three times as likely as experienced buyers to fall victim. They've never done this before, so a "new instructions" email doesn't look strange to them.

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Legitimate title companies almost never change wiring instructions in the middle of a deal. Treat any "updated" account number as fraud until you've confirmed it by phone at a number you found yourself. If you're still budgeting for the big day, our breakdown of what buyers pay in closing costs shows what that final wire typically covers.

What Should You Believe About Wire Fraud at Closing?

Start by dropping three common assumptions. Each one leaves buyers and sellers exposed.

❌ Myth Ohio requires a wire for anything over $1,000.

✅ Fact Since 2017, ORC 1349.21 lets checks and other physical funds count as good funds up to $10,000 in total. Above that, funds generally must arrive electronically.

❌ Myth My title insurance will cover me if I wire money to a scammer.

✅ Fact Title insurance protects your ownership against title defects. It typically doesn't cover wire fraud losses, though coverage depends on the policy. Prevention is your real protection.

❌ Myth If the email comes from my title company's address, it's safe.

✅ Fact Scammers spoof look-alike addresses or break into real accounts. The CFPB says never follow instructions contained in an email — verify by phone.

That title-insurance point matters. Your owner's policy is valuable — our guide to title insurance costs in Ohio explains what it does protect — but it's built for problems with the title itself. It's not a backstop for a misdirected wire.

How to Wire Closing Funds Safely, Step by Step

1	Lock in two trusted contacts early Right after your contract is accepted, get the names and direct phone numbers of your agent and your title or escrow officer — in person or from a source you trust, not a later email.
2	Agree on how instructions will arrive Ask the title company how it delivers wiring instructions, such as a secure portal or in person. Anything that shows up another way is a red flag.
3	Call to verify before every wire Call the title office at the number you saved in Step 1 — never a number in the email — and read back the bank name, routing number, and account number.
4	Confirm receipt the same day After you send the wire, call the title company to confirm the money landed. Don't wait until the closing table to find out.
5	If something's wrong, act within minutes Call your bank and ask for a wire recall right away, then file a complaint at ic3.gov. Then call your agent and title company.

Selling? The same rules apply in reverse. Give the title company your payout bank details in person or through its secure system, and treat any email asking you to "confirm" or "change" where your proceeds go as a scam until proven otherwise.

"The only thing that's changed is the account number."

What Does This Mean for Buyers and Sellers in Miami Township?

It means wire verification belongs on your closing checklist, right next to the final walkthrough. Miami Township wraps around Miamisburg in southern Montgomery County, and closings here typically run through local title agencies. In nearly every purchase, your down payment and closing costs will clear the $10,000 good-funds line.

Sellers in Miami Township are just as exposed — your proceeds go out by wire, too. Before you list, it helps to know what you'll walk away with. You can see what your home is worth in a couple of minutes, then we'll walk you through exactly how and when that money reaches you.

Buying instead? Start with homes for sale near Miami Township and Miamisburg. Then plan your wire routine before you ever make an offer.

DH	"I tell every client the same thing: nobody on our team will ever email you new wiring instructions. If you get one, pick up the phone and call me before you do anything else. That one call costs you two minutes and can save your down payment." — Doug Haney

Frequently Asked Questions

Do I have to wire my closing funds in Ohio?

Usually, yes, if your funds are over $10,000. Under Ohio's good-funds law, ORC 1349.21, cashier's checks, certified checks, personal checks, and cash only count as good funds up to $10,000 in total, so larger amounts for a closing near Miami Township generally need to arrive electronically, most often by wire.

Is Ohio's wire transfer threshold $1,000 or $10,000?

It's $10,000. Ohio raised the good-funds threshold from $1,000 to $10,000 in 2017, so older articles that still cite $1,000 are out of date.

Does title insurance cover wire fraud?

Typically, no. Title insurance protects your ownership against title defects like forged deeds or unreleased liens, and it typically doesn't cover money you wire to a scammer, though coverage depends on the specific policy, so verifying instructions by phone is your real protection.

What should I do if I wired money to a scammer?

Call your bank immediately and ask it to recall the wire, then file a complaint with the FBI at ic3.gov. Speed matters, so contact your bank before anything else, then notify your agent and title company.

Can sellers be targeted by wire fraud too?

Yes. Scammers pose as the title company and ask sellers to change where their sale proceeds are sent. CertifID's 2026 report found seller net-proceeds fraud made up 12% of the cases its recovery team handled, so sellers near Miami Township should give payout details only in person or through a verified secure portal.

Wire fraud is preventable. You don't need special software or a law degree — you need a simple rule: verify every wire by phone, at a number you already trust, every time. Ohio's $10,000 good-funds line means almost every buyer and seller near Miami Township will wire money at closing, so that rule applies to you.

If you want the full picture before you make a move, grab the free Complete Guide to Buying or Selling a Home in Southwest and Central Ohio, and reach out anytime to talk through your own closing.

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Douglas Haney & The Haney Group are here to guide you every step of the way — from offer to a safe, verified closing near Miami Township.

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