Monday, 16 September 2013

Innovative Ways that a Property Ownership Search Can Help You be More Efficient!


When representing a client, whether it is a buyer or a seller, the more information you have about a property and its owners, the better. Most real estate sales professionals will turn to a search in GeoWarehouse to get the information they need quickly. A property ownership search can be performed in GeoWarehouse by leveraging different reports and searches to obtain the information that you need.

When requesting a Property Details Report in GeoWarehouse, you will get access to not only the sales on the subject property, but also the property’s PIN (Property Identification Number). Say you want to know how much the subject property is encumbered for, what current owners paid for the home, when they purchased it, etc.  Armed with the property address and PIN, you can request a Parcel Register in the GeoWarehouse Store and instantly identify who is on title to the property, the type of ownership, when they purchased the property, what they paid for it and any mortgages or liens registered.

This can make you more efficient in so many ways:

·        You can validate that the client engaging you actually is the homeowner. What does this mean to you? It means that, if there are other people on title, they are consenting to the sale of the property and that you in fact contract all of the relevant parties.

·        You can learn of encumbrances and liens on the subject property and protect your interests and other closing costs. What does this mean to you? Incredible time savings. You can quickly identify if your deal is in fact a practical deal and address financial shortfalls before investing your valuable time and energy into representing a client.

·        You can identify any prevalent issues that could impact the deal from closing. What does this mean to you? There is nothing worse than being at the 11th hour on a closing and getting a call from the real estate lawyer advising you that there are issues on title that will prevent your deal from closing. Seeing what is on the Parcel Register will greatly mitigate this and enable you to assist your client to resolve any issues well before your closing date.

Validating property ownership can play a key role in any real estate transaction, and having this information will lead to increased efficiency and a smoother closing.

We want to hear from you. Have you ever had a deal go south on closing because of title related issues?

If you would like more information about GeoWarehouse, please visit www.geowarehouse.ca or call 1-866-237-5937.

2 comments:

  1. Thiese topics and article are so information based.This is so interesting blog. You are best listing knowledge provide at this site. I am very excited read this nice article. George offers Property leveraging opportunities and teaching Commercial to Residential Conversion.

    ReplyDelete
  2. The very heart of your writing shilst sounding agreeable at first, did not settle very well with me personally after some time. Someplace within the paragraphs you were able to make me a believer but just for a while. I nevertheless have a problem with your leaps in assumptions and one would do well to fill in those breaks. In the event you actually can accomplish that, I will definitely end up being fascinated.
    Its such as you learn my thoughts! You seem to grasp so much approximately this, such as you wrote the ebook in it or something. I think that you simply can do with some% to force the massage house a bit, however other than that this is magnificent blog. An excellent read. I will certainly be back.
    Property leveraging

    ReplyDelete