proof that a person really owns the real estate property
hello guys. i am still learning to become a real estate investor. i haven't started yet my first deal since I'm still on board the ship. just want to ask. one of my friend says he was talking to a seller then he wants to make sure that the one he was making deal with was the real owner of the property.. how can he know or is there any proof that the owner can prove that he really owns the property? sorry for this silly question. im still learning. thanks.
Most Popular Reply
The owner of the property is registered on title. You can have a title company or lawyer search title, and then have the person saying they are the owner show you ID.
Either way, at closing, the lawyer/title company will make sure they are the owner, but you want to avoid scams where someone keeps your deposit. This is one reason why deposits are usually deposited in trust to a lawyer or real estate brokerage.