This is a tutorial for renters who are curious about the foreclosure status of the property you are renting.
With the wave of foreclosures in the Las Vegas Area, many renters are concerned if the property they are renting is in good standing or about ready to get foreclosed on. Even if you have been paying your rent or even have a lease option on the property, it is not a bad idea to make it a habit to check on a monthly basis.
It is also a good idea to check prior to renting a home!
Step 1: Go to the Clark County Assessor's office and click on search, under real property records click "address". The reason why you may not want to search by name is that many investors hold title in an LLC.
Step 2: Fill in street number and street name. Make sure you check the box next to "show current parcel number record"
Step 3: Many addresses show up so write down the parcel number next to the address:
Step 4: Go to the Clark County Recorder Home page for "advanced search". (this info has changed, go to that link and follow the directions from step 4 and on) Enter the Parcel Number WITHOUT the dashes. Click on "detail data":
Step 5: Look for the following:
Breach or Notice of Default: Owner is in Default of their loan. Foreclosure may or may not be in the works. General rule of thumb, if house is going to be foreclosed on, it will happen in the next 3-6 months from recorded date:
Notice of Sale or Notice of Trustee Sale: Foreclosure is imminent. Usually 30-60 days from recorded date:
Trustee Deed: House is foreclosed on:
If your rental home is in default, please consult a real estate attorney prior to breaking a lease or stopping your rental payments!
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Hi Renee,
Sometimes the renters think they still have an enforceable lease...if it's taken over from the bank the lease is history ...we had one across the street who was living rent free for 8 months and then the judge mailed them the order to move and they didn't and the Sheriff came and made them sit waiting for the truck with all their furniture on the sidewalk.