Irrespective of whether your next purchase in real estate is of a personal nature or a business investment, you need to verify the owner and the property itself. Not doing so can and often will lead to problems soon after, or later on. If you do not want an unpleasant surprise after your next real estate deal, read on as we discuss the importance and methods of verifying the background of any property and its ownership before finalizing the deal.
Is the Owner of the Property, Really the Owner?
It isn’t new to find fraudulence in real estate, and one of the most common frauds is falsification of ownership. Unless you are absolutely sure beyond a shadow of doubt that the people claiming to be the owners of the property are indeed the owners, do not finalize the deal because if they are really frauds, you will lose your money and gain nothing in return. Sometimes the sellers are not even aware that they do not have the legal authority to sell a property, and while such sellers are just dangerously ignorant, rather than being frauds, it will hurt you all the same.
How Do You Verify a Property Before Buying It?
There are multiple ways to go about it, but probably the easiest way to do it would be by using the White Pages reverse address lookup tool on Intelius.com for detailed information on any address. In fact, the reverse address lookup tool goes beyond just verifying the current ownership of the property, but will also give you detailed information about the property’s previous owners, general history, tax history, associated loan details and even information on background of the current residents.
Additionally, Intelius can provide you with data about the neighborhood, which will let you know if it is safe for the purpose you are buying the property for. Registered violent criminals and sex offenders in the neighborhood will show up on the page to warn you, if there are any.
Are There Other Ways to Verify an Address?
While some of the same information can also be found by going to the local police stations, recorder’s office and through hours of online and offline tax research, there is just no other faster, more comprehensive and convenient way to verify ownership and history of any property within US than doing it through Intelius’s white pages reverse address tool.
Having said that, it is common sense to be aware of the other alternatives as well, in case the property in question cannot be found on the site. In that case, consider the following methods and you will be able to verify a lot of details about both the property and the seller:
- Check tax status of the property online via the state’s website
- Go to the City Hall and ask for the property’s ownership information and history
- Google the address and check to see what comes up
For most people, real estate is where they will spend most of the money they save in an entire lifetime, so it makes all the sense in the world to take the necessary precautions for verification, before making such an important investment.