Every investment is special, particularly when delivering a solid return on investment (ROI). Perhaps you have such a property because it’s consistently outperforming expectations. But beware, because if your property is doing well, others may have noticed too, and they could have their eyes on your prized asset. This could lead to significant trouble if you’re not vigilant in managing your property, especially when it comes to regularly reviewing your property’s public records.
If you keep up with this crucial task, you have less to worry about. However, if you are not, you could face several problems, which could cost you a lot.
Here are some problems you might face:
- Unnoticed deed fraud
- Unrecorded liens
- Errors in property records
With modern technology, people with bad intentions can easily get personal information that might be important for changing your deed. Just anyone can do this kind of identity theft since they could use fake documents based on actual personal details that anyone can find on the internet or through public records.
Identity theft is a growing concern
Identity theft is a significant issue, particularly in Nevada, where real estate identity theft is rising. Fraudsters often target properties without mortgages, such as vacant or nonowner-occupied properties. Using public records, they pose as the owners and may even list properties for sale. Even if you feel safe now, preparing for the future is crucial. If targeted, Nevada’s Fight Fraud Taskforce can help protect yourself and your investments.
It’s worth remembering: A little preparation now can prevent troubles later.