5 Costly Title and Escrow Mistakes Las Vegas Buyers Make (And How to Avoid Them)

Buying a home in Las Vegas is one of the most significant financial decisions you'll ever make. While the excitement of finding your dream property can be overwhelming, the title and escrow process is where many buyers unknowingly put themselves at risk. Even small oversights during closing can lead to expensive legal battles, delayed move-in dates, or worse—losing your earnest money deposit.

At Platinum Title and Escrow, we have guided numerous Las Vegas homebuyers through successful closings. Here are the five most common—and costliest—mistakes we see, along with practical advice on how to protect yourself.

1. Las Vegas Buyers Skipping or Rushing the Title Search

The Mistake:

Many buyers assume that if a property is listed for sale, the title must be clear. Unfortunately, that's not always the case. Hidden liens, unpaid property taxes, boundary disputes, or even clerical errors in public records can cloud a title. When buyers pressure title companies to expedite the search to meet tight closing deadlines, critical issues can be missed.

Why It's Costly:

Discovering title problems after closing can result in:

• Legal fees to resolve disputes

• Having to pay off someone else's debt attached to the property

• Potential loss of the property if ownership is successfully challenged

How to Avoid It:

Work with a reputable local title company that conducts thorough searches. At Platinum Title and Escrow, we examine public records going back decades to uncover any potential issues. Build adequate time into your purchase agreement for a comprehensive title examination, typically 7-10 business days minimum. Always purchase owner's title insurance, which protects you against undiscovered title defects even after closing.

2. Not Reading Escrow Instructions Carefully

The Mistake:

Escrow instructions outline every detail of the transaction, from the purchase price to contingencies and closing costs. Many buyers skim these documents or sign them without fully understanding the terms, trusting that everything matches the purchase agreement.

Why It's Costly:

Discrepancies between your purchase agreement and escrow instructions can lead to unexpected costs at closing, disputes over who pays certain fees, or even deal-killing disagreements. In Nevada, once you sign escrow instructions, you're legally bound to those terms.

How to Avoid It:

Read every page of your escrow instructions carefully. Compare them line-by-line with your purchase agreement. Don't hesitate to ask your escrow officer to explain anything unclear—that's what they're there for. If you spot discrepancies, address them immediately before signing. Consider having your real estate attorney review the documents if the transaction is complex.

3. Failing to Verify Wire Transfer Instructions

The Mistake:

Wire fraud has become increasingly sophisticated in real estate transactions. Scammers impersonate title companies, real estate agents, or attorneys, sending fake emails with altered wiring instructions. Buyers who don't verify these instructions before sending their down payment can lose hundreds of thousands of dollars in an instant.

Why It's Costly:

Wire fraud losses are rarely recovered. The FBI's Internet Crime Complaint Center reported that real estate wire fraud cost Americans over $350 million in 2023. Once funds are wired to a fraudulent account, they're typically transferred multiple times and withdrawn quickly, making recovery nearly impossible.

How to Avoid It:

Never trust wiring instructions received via email alone. Always call your title company directly using a phone number you've independently verified (not one from the email) to confirm the account details. At Platinum Title and Escrow, we provide wiring instructions through multiple verified channels and encourage all clients to call us directly at our published number before starting any wire transfer. We will never send last-minute changes to wiring instructions via email.

4. Las Vegas Buyers Ignoring the Preliminary Title Report

The Mistake:

The preliminary title report (also called a preliminary commitment) reveals the current state of the property's title, including existing liens, easements, and encumbrances. Many buyers receive this document but never review it, assuming their agent or title company will flag any problems.

Why It's Costly:

The preliminary report might reveal issues that affect your use of the property, such as utility easements that prevent you from building a pool, HOA liens that need to be paid, or restrictions on what you can do with the land. Discovering these after closing means you're stuck with limitations you didn't anticipate.

How to Avoid It:

Review your preliminary title report as soon as you receive it. Look for anything unexpected: easements, covenants, conditions, and restrictions (CC&Rs), or outstanding liens. Ask your title officer to explain any items you don't understand. If you discover deal-breaking issues, you typically have a window to back out or renegotiate. Nevada law provides specific timelines for reviewing and objecting to title issues—don't let them pass.

5. Choosing the Cheapest Option Without Considering Experience

The Mistake:

With so many costs associated with buying a home, it's tempting to cut corners wherever possible. Some buyers select their title and escrow company based solely on price, choosing discount providers or out-of-state companies that offer lower fees.

Why It's Costly:

Title and escrow work requires deep knowledge of local laws, recording requirements, and county-specific procedures. Inexperienced or distant providers may miss local nuances, leading to recording errors, delayed closings, or missed title defects. In Las Vegas, Nevada's unique community property laws, HOA requirements, and recording procedures demand local expertise.

Additionally, if problems arise after closing, you want a local company you can reach easily—not a customer service line in another state.

How to Avoid It:

Choose a title and escrow company with strong local roots and proven experience in Las Vegas real estate. Look for companies with excellent reviews, licensed professionals, and a track record of smooth closings. While fees matter, the security and peace of mind that come with working with experienced professionals are worth far more than the small amount you might save with a discount provider.

Protect Your Investment with Platinum Title and Escrow

Your home purchase is too important to leave to chance. By avoiding these five common mistakes, you'll protect yourself from costly surprises and ensure a smooth, secure closing process.

At Platinum Title and Escrow, we specialize in guiding Las Vegas homebuyers through every step of the title and escrow process. Our team conducts thorough title searches, provides clear communication about every document you sign, and maintains rigorous security protocols to protect you from wire fraud. With deep knowledge of Nevada real estate law and Clark County procedures, we're committed to making your closing as smooth and stress-free as possible.

Ready to close on your Las Vegas home with confidence? Contact Platinum Title and Escrow today to learn how our experienced team can protect your investment and ensure a successful transaction.