Sharing the truth about deed fraud and how you can protect yourself.
How much do you know about deed fraud? Unfortunately, this is a very prevalent issue in the Phoenix market. There are numerous news articles you can read on the topic, and the truth is that it’s happening. If you own any kind of property, you need to take protective measures to keep your property and identity safe.
One unfortunate example of this is from a REALTOR® in Tempe. Their family member owned a property that ended up getting bought and sold by an iBuyer without them knowing. They eventually found out that they didn’t own their house anymore. This tragedy is something we all need to be careful of.
Start by researching the topic. You will be able to find several articles about the Phoenix area alone, and there are services that can alert you to any suspicious activity. Still, this is your public service announcement that deed fraud is real.
“We all need to be proactive with the danger of deed fraud.”
Our team did have an experience with deed fraud recently. A seller reached out to us for help selling their property, and we did all of the work in the process. We went through the market analysis, agreed on a price and commission, and even listed the property online. However, within a day of putting the home on the MLS, the true homeowner reached out to us and exposed the truth.
With things like digital signatures, people all over the world can get away with more, so we all need to be more careful. Real estate agents need to be carefully checking their clients’ identities. If a home sale goes through escrow and closing, it can be almost impossible to undo things and get the proceeds back, so we all need to be proactive.
I highly encourage you to register with the links below to ensure your investment stays protected:
Maricopa County: https://recorder.maricopa.gov/MaricopaTitleAlert/Default
Yavapai County: https://yavapaicountyaz-recorder.tylerhost.net/recorder/eagleweb/fraudGuardSignup.jsp
If you have any questions or concerns about this topic, know that we’re here to help. You can call us at (602) 430-5226. We look forward to hearing from you!
