Archive for the 'Instrument Images' Category

November 12, 2018

A Parcel Register* is an important part of any real estate sales professional’s arsenal.

With one search, you can find an incredible amount of information about a property.

Many real estate agents and other professionals use Parcel Registers* to find the:

  • Legal property address. This is important for contracts.
  • Property identification number.
  • Legal homeowners. Sometimes other people are on title that aren’t disclosed to you.
  • Types and percentages of homeownership. A joint tenancy is the most common, but there can be other strange ones that can come up, such as “life interest.”
  • Registration and transfer history. This can identify real estate fraud and other issues.
  • The dates, parties to and amounts of transfers and mortgage registrations. This can identify undischarged mortgages that can delay closings, higher mortgages than disclosed, and the like.
  • Liens and charges on title.
  • Other registrations that you may want to look into, like strange restrictive covenants and easements. If there is an instrument registered against the property, you can also take your investigation a step further and get an Instrument Image*.

Some real estate sales professionals use Parcel Registers* only when something feels “off” about a deal. This is by no means a bad strategy — you need to trust your instincts, especially if you’ve been in business for a while. Even if nothing turns out to be untoward, it’s still vital that you do your due diligence.

Other real estate sales professionals use Parcel Registers* for every deal, whether something feels off or not. This can also be a good strategy. After all, you know the costs of a bad deal going through or of having trailing liabilities. A Parcel Register* gives you an easy way to vet your clients and property information.

At GeoWarehouse, our Parcel Registers* come from property data taken directly from, the Province of Ontario Land Registration Information System (POLARIS). You can trust this data is the most accurate information available.

Want to dig deeper? Parcel Registers*, as well as Instrument Images* and many other documents, are available online through the GeoWarehouse eStore.

Visit www.geowarehouse.ca today.

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

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geo2Over the course of your role representing a buyer or seller, due diligence is going to require some extra digging. There are certain things in real estate that when needed could be a real pain to get.

Some examples of this are:

  • Condo Status Certificates – which can take up to 10 days to get and involve a written request, issuance of payment and then pick-up
  • Surveys – would involve a surveyor to come out to the property
  • Instrument Images when things come up on title – liens or other registrations come up on title and the registrant’s contact information is needed in order to get it resolved

Some real estate sales professionals don’t even realize that by being a member of a real estate board your board may have set-up access to GeoWarehouse. A GeoWarehouse subscription provides access to property search and evaluation features – but also access to premium searches, images and reports that can be needed from time to time and are a pain in the butt to get. If available, through the GeoWarehouse Store you can purchase a Condo Status Certificate, survey, Instrument Image or even MPAC Property Assessment report online.

Just realizing that you are a GeoWarehouse member? Here are some vital guides that walk you through how to request various searches, images, documents and reports in the GeoWarehouse Store.

Not a GeoWarehouse customer? Visit www.geowarehouse.ca for more information about how to access this work changing tool!

 

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Instrument Images and You

Author: GeoWarehouse
September 1, 2015

geoWhen you hear the words Instrument Images – do they mean anything to you? Why would Instrument Images be important if you don’t know what they are or how you could be using them? That is the very purpose of the blog you are about to dive into.

As a real estate sales professional you likely use one tool or another to run searches to verify legal home ownership information all the time. The place to get the most current, up-to-date home ownership information is through the Parcel Register*. While some think a Parcel Register* is a title search, it is actually just one part of a title search.

The Parcel Register* not only provides the home ownership information as it relates to the property but also a history of transfers, discharges and registered encumbrances. Each item will have a registration number which can then be used to pull an Instrument Image – an image of the actual document registered and associated to the transfer, registration or discharge.

To use an analogy, the Parcel Register is like popping the hood of a car but the instrument image is like putting the car up on the hoist!

The Parcel Register will show you the date, registration number, registrant (just name) and amount.

The Instrument Image will show you the registrant’s complete information as well as the lawyer who registered the registrant’s complete information and other details that would appear on the relevant document, whether it is a mortgage charge, mortgage discharge or mortgage transfer.

Not every situation will call for such in-depth research as requesting an Instrument Image – but some will, and having it will give you that much more knowledge and, after all, knowledge is power, right?

If you don’t know how to get Instrument Images already, here is a quick video:

 

 

Not a GeoWarehouse customer? Find out why you should be by visiting www.geowarehouse.ca.

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

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