People can trick you into handing them thousands of dollars, and never give you anything else in return. And for a while you would be happy that you did.
Then, the day comes that you are kicked off of your own property, or arrested for trespassing. Don’t let this happen to you.
Don’t end up in court trying to fight someone you don’t even know over ownership of your land! Simply pull the property’s assessment information from public record and have a title check performed.
Title insurance could be a scam, or the perfect tool.
If the assessment and title have been investigated, you have some reason to think it is risky, and you still want the property, just get Title Insurance. Usually title insurance is a big scam meant to protect the bank, but in scenarios like this, it is the perfect tool to protect your assets.
You could purchase a piece of land and lose it due to an illegal sale. One such item that I want to cover is called a short sale.
This isn’t the legal type of short sale that occurs in stock exchanges. This short sale is where a person sets up to purchase a property from someone, while selling it to you at a profitable mark-up.
In many locations, short-selling is illegal.
Sometimes the “middle man” will sell the property before the buy has time to go through the system. Many times the sell and purchase will happen in the same meeting. This is a quick way to make a buck, but also illegal in some locations and can put your title at risk.
The best way to protect yourself is to purchase directly from the owner with proof of ownership.
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