This question arises frequently in our investigative division: how many types of asset searches exist? Are there different scenarios or varied approaches to these searches?
Cost Variations and Service Types
There’s a broad spectrum of asset search services available, ranging from those costing as little as $30 or $40 to more comprehensive searches that can amount to thousands of dollars. The choice between them hinges on the purpose of the search.
Purpose-Based Differences
Consider the purpose behind your asset search. For complex cases demanding forensic accounting, historical data, or comprehensive analysis, such as those undertaken by law firms for due diligence on corporations, the cost can escalate into thousands of dollars. Conversely, a cursory electronic snapshot of potential assets, not requiring absolute accuracy, might suffice through online research for $50 or $60.
Categories and their Sources
Asset searches span 14 different categories, including bank accounts, real estate, vehicles, corporate assets, and intellectual property. Each category demands unique search locations as their sources of records vary significantly.
Varied Sources and Databases
Records for these asset categories reside in diverse locations—real estate details might be found at the County Recorder’s office, while corporate asset records might be sourced from the Secretary of State. Utilizing third-party aggregators like Lexus Nexus can offer convenience, but they might lack completeness or timeliness.
Civilian capacity and expertise
While private investigators possess expertise, civilians can educate themselves on the process of conducting asset searches. The tools available to investigators are often accessible to the public, allowing for self-conducted searches with cost-saving potential.
Tailoring Your Search
The variability in asset searches is virtually infinite. You can customize searches based on asset classes and the level of documentation needed, ranging from fully documented paper results to partial electronic records from third-party sources.
Consideration for Specific Needs
Understanding the purpose behind the search is crucial—whether it’s for court, personal use, or a preliminary assessment. Court-required searches might demand a higher level of detail and documentation, while personal use allows for more flexibility in approach and cost.
Determining Cost and Duration
The type of asset search required—be it for real estate, bank accounts, vehicles, or intellectual property—dictates the cost and duration of the investigation. Consulting with an investigator or understanding your scenario’s specific needs is pivotal in determining the approach and expense.
