How to Spot Real Estate Scams (and Protect Your Investment) — Kamloops, BC Edition
The Canadian real estate market continues to be one of the country’s most trusted paths to long-term wealth — but unfortunately, it’s also becoming a growing target for sophisticated fraud. Reports show Canadians lost more than $600 million to scams in 2024, and experts estimate that only a fraction of those crimes are actually reported.
In Kamloops and across British Columbia, identity theft, fake listings, and wire transfer fraud are becoming increasingly common. These scams don’t just target first-time homebuyers — they’ve fooled seasoned investors and homeowners as well. With more transactions happening digitally and with fewer in-person meetings, the opportunity for fraudsters to intercept or impersonate legitimate professionals has grown dramatically.
If you’re buying, selling, or investing in property in Kamloops, here’s how to spot the most common real estate scams — and how to protect your hard-earned investment.
1. Wire Transfer Fraud: The High-Stakes Scam
Wire transfer scams often strike right before closing — when you’re most focused on getting the deal done. Criminals hack or spoof legitimate emails from real estate professionals, then send “updated” wiring instructions that direct your deposit or down payment to a fraudulent account.
Even though most Kamloops buyers send deposits through their REALTOR®, lawyer’s or notary’s trust account, these scams can still slip through. Wire transfers are almost always irreversible, meaning once your funds are gone, recovery is extremely difficult.
Watch for these red flags:
Last-minute wiring instruction changes, especially with words like “urgent” or “closing emergency.”
Slightly altered email addresses (for example,
titleco.cavs.titlco.ca).Pressure to act immediately or risk losing the deal.
Protect yourself:
Always confirm banking details in person or by calling a verified number — never rely on the contact information in the email thread. Many Kamloops law offices now require verbal confirmation before accepting any electronic transfer. If you suspect wire fraud, contact your bank immediately and file a report with the Canadian Anti-Fraud Centre (CAFC).
2. Rental Listing Scams: When the “Perfect Deal” Isn’t Real
With the tight Kamloops rental market, scammers are capitalizing on demand by posting fake listings that seem like dream deals — often complete with beautiful photos and below-market prices. The “landlord” may claim to be out of the country and unable to meet in person, then request a deposit or first month’s rent before you’ve even viewed the property.
Common signs of a rental scam:
Rent that seems too low for Kamloops market conditions.
Requests for e-transfers or crypto payments before viewing.
Landlords who are “away for work” or “travelling overseas.”
Protect yourself:
Never send money without verifying the property in person. Search the BC Land Title and Survey Authority (LTSA) to confirm ownership, and use trusted rental platforms. Kamloops homeowners should also watch for scammers using their vacant properties in fake ads.
3. Title and Deed Fraud: When Scammers Steal Your Home
Title fraud — sometimes called “house theft” — happens when criminals use stolen identities to transfer ownership or secure mortgages against your property without your knowledge. Mortgage-free and vacant homes are prime targets.
There have been recent cases across Canada where entire homes were sold fraudulently while the real owners were out of the country. The victims often only find out when the new “owners” move in or they receive default notices for loans they never took out.
Watch for warning signs:
Mail or legal notices related to mortgages you didn’t authorize.
Missing property tax bills.
Unexpected foreclosure or lien notices.
Protect yourself:
Check your title periodically through the LTSA.
Invest in title insurance, which can cover losses from fraudulent transfers.
Protect personal data — most title scams start with identity theft.
4. Fake Buyers, Sellers, and Agents
Impostor scams are on the rise in BC. Fraudsters pose as legitimate buyers, sellers, or even REALTORS® to collect deposits or steal identities. Fake buyers might send a counterfeit certified cheque for a deposit, then request a partial refund before the fraud is discovered.
Criminals have also listed Kamloops homes for sale without the owner’s consent, using stolen IDs and fabricated documents. Others create phony agent profiles using stolen headshots from real professionals.
Always verify:
Check credentials directly with the BC Financial Services Authority (BCFSA), which regulates REALTORS® in Kamloops and across BC. Confirm ownership through the LTSA and always request government-issued photo ID.
5. Bait-and-Switch Tactics
This scam is less about theft and more about manipulation. It starts with an attractive listing or offer that suddenly changes once you’re hooked.
Rental bait-and-switch: A great property “just rented,” but another less desirable one is available — for more money.
Home buying “we pay cash” offers: A high initial price drops dramatically right before closing.
Mortgage scams: Promised “special rates” that require upfront fees, then shift to higher-interest loans.
Protect yourself:
Get every offer in writing, and never pay non-refundable fees before confirming legitimacy. In Kamloops, reputable agents and mortgage brokers are transparent about rates, terms, and contracts.
6. Your Kamloops Real Estate Fraud Prevention Checklist
Work only with licensed professionals — REALTORS®, mortgage brokers, and lawyers who are registered with BC regulatory bodies.
Verify all identities using government-issued ID and official databases.
Protect personal info with strong passwords and two-factor authentication.
Avoid pressure tactics — real deals don’t demand instant decisions.
Use secure payment channels — always send deposits to verified trust accounts.
Monitor your property — especially if it’s vacant or mortgage-free.
Report fraud quickly to your bank, local RCMP detachment, and the CAFC.
Bottom Line
Real estate scams thrive on urgency, emotion, and misplaced trust. Whether you’re buying your first home, managing an investment property, or renting in Kamloops, vigilance is your best protection.
Work with experienced local professionals who know the Kamloops market and can identify red flags before they cost you. When something feels off — slow down, verify, and seek advice. It’s always better to pause a deal than to lose your savings to fraud.
Thinking of buying or selling in Kamloops? Let’s connect. I’ll help you navigate every step safely and confidently — while protecting your investment from the growing threat of real estate scams.
Sources
Competition Bureau Canada - https://www.canada.ca/en/competition-bureau/news/2025/02/fraud-prevention-month-to-focus-on-impersonation-fraud-one-of-the-fastest-growing-forms-of-fraud.html
CityNews - https://www.ctvnews.ca/business/homeowners-realtors-should-take-steps-to-protect-against-title-fraud-experts-1.6810853
Canadian Real Estate Association - https://www.crea.ca/cafe/what-realtors-should-know-about-wire-transfer-fraud/?category=53794
Canada Mortgage and Housing Corporation - https://www.cmhc-schl.gc.ca/professionals/housing-markets-data-and-research/market-reports/rental-market-reports-major-centres
Maclean's - https://macleans.ca/economy/realestateeconomy/homeowner-scam-canada-total-title-fraud/
CBC News - https://www.cbc.ca/news/canada/toronto/couple-toronto-home-sold-says-system-failed-them-1.6726043
CBC News - https://www.cbc.ca/news/canada/toronto/brampton-man-charged-fraud-alleged-real-estate-deposit-scam-1.7531181
Financial Consumer Agency of Canada - https://www.canada.ca/en/financial-consumer-agency/services/real-estate-fraud.html
Richmond RCMP - https://voiceonline.com/richmond-rcmp-warn-public-about-rental-deposit-scams/
