Rental Basics in 89113>Question Details

David, Renter in Las Vegas, NV

how can i check to see if a house is in foreclosure before i rent it?

Asked by David, Las Vegas, NV Mon Jun 13, 2011

found a great place, but it is being rented out by the owner. i want to make sure im not being scammed.

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12
this link below is from the county assessors office for properties in las vegas to check and see if you future rental home is going into or has been foreclosed-
Feel free to contact me with any additional questions----
3 votes Thank Flag Link Mon Jun 13, 2011
David,

Do you due diligence and find out. There are a lot of these scams going on, unfortunately. It is happening in Arizona as well. Suzie provided you with a source that hopefully will help you.

Best of luck!
1 vote Thank Flag Link Mon Jun 13, 2011
David,

Mark brought up an excellent point. Be careful when you rent from an owner direct. If you do, be sure to have your contract reviewed by an attorney and make sure you check for the NOD every month. If possible, when dealing with owners direct, try to limit your security deposit or see if they will take a bond in lieu of the deposit. You can google it and find a company that will write a bond for the deposit. This way, if the proeprty does go into default, you limit your downside.



Jeffrey L. Sklar
Broker and Property Manager
Southern Nevada Property Management
8871 West Flamingo Road Suite 202
Las Vegas, NV 89147
Phone (702) 522-6764
Fax (888) 203-2779
Proud Member of the Greater Las Vegas Association of Realtors Property Management Committee
0 votes Thank Flag Link Thu Oct 13, 2011
Check out Clark Co. recorder and assessor's website. You can enter the property's address or owner name and view public records, like notice of default or sale.
0 votes Thank Flag Link Tue Oct 11, 2011
Hi David,

Be careful when renting direct with an owner, and make sure you have a written agreement in place; I'd be happy to provide you with a sample.

To check if someone is foreclosing, Paul May provided you with the best link, striaght from Clark County (thumbs up to Paul):

http://www.clarkcountynv.gov/Depts/recorder/Pages/HomeForclo…



You can search for rentals available on the MLS here:
http://markfleysher.las.mlxchange.com/AWPCriteria.asp?Search…

You can also search on Trulia, which can only be listing by Real Estate Pro's.
0 votes Thank Flag Link Fri Jul 1, 2011
If the rental is not represented by a professional rental agent or company, then you are really gambling, because what is good today could be in foreclosure tomorrow. You have to ask a professional to verify the status.


DAVID COOPER Foreclosure and Bank REO's Specialist-Las Vegas.35 years experience For freee list
Call +1-7024997037 or check website
0 votes Thank Flag Link Tue Jun 14, 2011
Hi David,

Many Realors have access to NOD's (notice of Default) and other means to check on properties. Of course there are no guarantees that something might change during the rental lease time.

It may be helpful to find a place that someone just purchased and paid cash for it. But even then you really never know for sure.

Penny O'Brien with SIMPLY VEGAS
3042 S. Durango
Las Vegas, NV 89117
702.321.9383
Penny@PennysProperties.com
0 votes Thank Flag Link Tue Jun 14, 2011
A professional rental company, not a real estate agent, qualifies the landlords as well as the tennants. They will
check the status of a prospective rental house before marketing it, and they get the notices of foreclosure when they happen.

DAVID COOPER Foreclosure and Bank REO's Specialist-Las Vegas.35 years experience For freee list
Call +1-7024997037 or check website
0 votes Thank Flag Link Mon Jun 13, 2011
David
Great question. I hope I can Help. I have seen so many renters move in a then in a few months then they are moving again. Here is a link that will help. http://www.rentalforeclosure.com/ I think you can check the property at Rental Foreclosure & you can check it every once in a while just to be safe. Also make sure everyone knows about this site. I believe you have to register but the little bit of effort will be worth it. I hope this helps
Thank You
Suzie Marquardt
Realty One Group
702-234-7653
Fahrnyteam@yahoo.com
FaceBook.com/Fahrnyteam
0 votes Thank Flag Link Mon Jun 13, 2011
Even if you rented from a Realtor you have no idea if the owner will go into foreclosure, You can go to court records and see if a foreclosure has happened or if a Les Pens has been filed
0 votes Thank Flag Link Mon Jun 13, 2011
Great answer, Bridget. I can only add 2 other scenarios that I watch for. 1- I've seen properties rented for significantly lower than the surrounding market, just to get someone locked in a lease before initiating a short sale or foreclosure. 2- If the owner of the property purchased in '04-'06, they may be upside down if they have a mortgage, which increases the likelihood of a short sale or foreclosure down the road. David, feel free to contact me if you have any questions.
Web Reference: http://RealEstateAndy.com
0 votes Thank Flag Link Mon Jun 13, 2011
Hi David! You'll need to follow a couple of steps, but finding out is free!

First visit the Clark County Assessor's website, http://www.clarkcountynv.gov/depts/assessor/Pages/default.aspx… and use the property search with the address of the rental. This will tell you who owns it and give you something called an APN number. It will look something like 123-45-567-890.

Copy that, and go to the Clark County Recorder's website, http://www.clarkcountynv.gov/depts/recorder/pages/default.aspx. Search the records using that property number. The most recent activity is at the bottom. If you see something like "notice of default" or "election to sell," that's a bad sign.

Hope this tells you what you need to know!
0 votes Thank Flag Link Mon Jun 13, 2011
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