Archive for March, 2017

The reality is, that in real estate, closing costs most often come out of the house sales’ proceeds of the seller. Reviewing registered mortgages can be very revealing when it comes to vetting a seller – whether they are your client or not. Registered mortgages can help you identify if a seller lacks equity to cover the costs associated with closing the deal, including your fees. This also helps to identify riskier clients, and save valuable time.

Reviewing registered mortgages

When looking at registered mortgages, you can use amortization schedules to input the registration amount of the mortgage, and then set the amortization term and estimated interest rate to match the length of time the mortgage has been registered to get an idea of the balance. People often incorrectly estimate what they owe on their home, so calculating this will help you identify when less equity actually exists. After making an estimate, if it seems that the equity positioning will be tight, the next step is to request a discharge statement from the bank. The discharge statement will tell you not only what the current balance is but also reveal pre-payment penalties, which, in a scenario where a deal is tight, can make or break the deal.

Identifying riskier sellers

Aside from the obvious, which is identifying an under-stated first mortgage, you can use registered mortgages to identify riskier clients. When reviewing the registered mortgages, if the client has multiple mortgages registered, this may be a sign that you need to dig deeper Multiple mortgages can be an indicator that the client has underlying financial issues. If the client is purchasing their next home with you after the current one sells, you may want to expedite the mortgage pre-approval process.

Digging deeper

If you have reasons to believe that you are dealing with a risky client, it may be prudent to check the property for liens. Income tax, property tax, condo fee and construction liens come up all the time on real estate deals. Requesting a Parcel Register* enables you to look beyond registered mortgages and identify if liens are registered on the home. Income tax liens can be particularly challenging as penalties and interest on tax debts can cause them to grow exponentially over time, often resulting in a balance much higher than the amount of the registered lien. If you have run a Parcel Register* and a lien has surfaced, the next step, just as with a registered mortgage, is to request a discharge statement to learn the true balance.

It’s not the end of the world…

Reviewing registered mortgages the moment a seller engages you is essential. If something comes up, it doesn’t necessarily mean you can’t help your client. It simply positions you to plan contingencies to ensure a smoother closing. It enables you to ask more questions, obtain supporting documentation and show your client that you are a real estate expert, committed to getting the deal closed. Once you get to the bottom line you can guide your client through how they can get their deal closed.

With the NEW GeoWarehouse, you have the tools to easily identify issues with registered mortgages. Find out more by visiting or calling 1-416-360-7542.

*An official product of the Ontario government pursuant to provincial land registration statutes.




There are many ways that you can perform a property search in the NEW GeoWarehouse one of which being using the Map. The map makes search easy because you can find and access property information with just a few clicks of the mouse. This quick video runs through how to make the most of a Map Search in the NEW GeoWarehouse. Not yet using GeoWarehouse? Visit to see how GeoWarehouse makes performing property related research a snap!

March 13, 2017

As part of our commitment to making your transition to the NEW GeoWarehouse effortless, here is another round of upcoming training dates that you can participate in.

You can register for GeoWarehouse training and view our whole host of training options on our contact our trainers page at

March 6, 2017

You may have noticed that the GeoWarehouse Store has a completely new look and feel as well as workflow to help you expedite your requests quickly and efficiently. The New GeoWarehouse Store can be quickly accessed through the Shop icon on the upper navigation bar.

Once in the store you can quickly toggle between the store and the main menu by selecting the main search window.

Check it out!

As you likely already know, the GeoWarehouse e-Store provides you with access to Title Search products from the Electronic Land Registration System of Ontario, MPAC reports and other real estate products such as a Condo Status Certificates, property surveys, and more…

From the main GeoWarehouse Store screen there are 4 main buttons we want to direct your attention to:

  1. Start Shopping – which will open the catalogue and display all products.
  2. Purchase or View Title Search Products – this will direct you to access title history documents within the Electronic Land Registration System of Ontario such as the Parcel Register, Registered Plan and Instrument Images.
  3. Purchase or View MPAC Records – this will direct you to access MPAC property valuation, structural attributes, and land use information.
  4. View Products under Other Real Estate Products – this is where you can request a Condo Status Certificate, property surveys, and more.

Once you have selected a product, next you need to choose a property to continue. You can do this by either selecting a recently viewed property or by searching for a new property.

Next you have the option to choose from All Reports, Statutory Reports, MPAC Reports OR Other Reports. Here you can also view a sample of each product.

Finally, you can select the view details button to begin the process of making your purchase.

Do you have further questions about how to use the New GeoWarehouse Store? Click here for the complete user guide that includes further instruction and imagery.




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