Archive for the 'Land Registry' 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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The eRegistration project team at The Property Registry (Teranet Manitoba) was recognized for their land registry search excellence this month.

They were nominated for a Partnership Award at the 20th Annual Manitoba Service Excellence Awards. These awards recognize the hard work, dedication, and outstanding efforts of all Manitoba Government employees who deliver service excellence every day.

The Partnership category specifically recognizes excellence in partnerships with one or more external partners. eRegistration is a collaboration between the Government of Manitoba and The Property Registry.

Congratulations, team! See the full press release here.

GeoWarehouse gives real estate professionals access to the most current and accurate land registry data in Canada. Learn more about our real estate tools today. Visit www.geowarehouse.ca.

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November 7, 2016

rsz_not_showing_up_on_mlsIt used to be that MLS was the be all and end all information source for real estate sales professionals. However, over time, as technology and resources for real estate sales professionals have evolved, things have changed dramatically. People now sell their homes in a number of different ways and even transact in creative ways, leading to not all sales ending up on MLS.

The problem with this is, if a property is not registered on MLS, the sale won’t be either. In fact, in hot urban centers, real estate sales professionals are listing on more than just MLS. For example, Blog TO lists these top 5 sites real estate sales professionals are using to market their listings: thedirt.co, theredpin.com, realtor.ca, zoocasa.com and homebuyers.com. Read more on this here: http://www.blogto.com/tech/2013/05/the_top_5_real_estate_listings_sites_in_toronto/.

In the U.S., the practice of ‘Pocket Listings’ is becoming more and more common. It is essentially the practice of a real estate sales professional promoting and selling a property without promoting it on MLS, hence the term pocket listing – keeping the listing in their pocket.

And what about FSBO? While the DIY-ers who want to sell their homes themselves can now list on MLS with the assistance of a real estate sales professional for a small fee, many still choose not to, for whatever reason. Hot urban markets like Toronto and Vancouver can see an individual put a sign in front of their home and offers flooding in almost immediately. It all comes down to supply and demand and it seems in Canada we continue to enjoy a significant demand for real estate.

Catching fraud – often non arms-length and even nefarious transactions will occur off of MLS because these deals are negotiated privately. Being able to see all sales can help you to identify if there are transactions that raise a flag to you.

So, when it comes to representing a buyer or a seller, how can you ensure that they know as much as possible about the property they are purchasing?

There are different tools that offer robust sales data and they derive their data from different places – the local MLS, municipalities, management companies, etc…but which one is the most accurate?

The most accurate information source in Ontario for land registry information is the Province of Ontario Land Registry Information System (POLARIS). When the lawyer electronically transfers the title of a property in Ontario, it is immediately registered with the land registry.

If you want to access the most current information about a property, including a history of all transfers, parties and amounts, you are best served by working with a tool that derives its data from the provincial land registry.

There is great value in being able to provide as much information about a property as possible. Because land registries are administered provincially in Canada, the best way to find out what tools are available to you is to start with your local government. In Ontario, real estate sales professionals use Teranet’s GeoWarehouse.

To find out more about GeoWarehouse please visit www.geowarehouse.ca.

 

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geo1Power at your fingertips – if you’re a GeoWarehouse user, you’ve got it. However, many users don’t even realize the power that they can unlock through the GeoWarehouse Store. So much land registry data is available through Parcel Registers*, Instrument Images, surveys, MPAC Assessment reports and more.

For this week’s training time we are focusing on the images, reports and documents available in the GeoWarehouse Store and how you can access them.

Want to unlock the power and access land registry data but not a GeoWarehouse customer? Reach out to us to find out more. Visit www.geowarehouse.ca today.

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

 

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