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Archive for the 'Property Search' Category

September 18, 2017

Without a doubt, a Parcel Register* is many things, but it’s not a title search. It’s part of a title search and is one of the most informative and accurate information snapshots of registrations that exist against a property.

A Parcel Register* is a record containing the property’s description and list of instruments registered against a property within the Land Registration System of Ontario as of the date of the property search. That’s a real-time, up-to date-report. The Parcel Register* includes:

  • A property’s PIN (Property Identification Number)
  • A legal description of the property
  • Who the legal homeowners are, the type of ownership and percentage
  • Easements
  • A history of property transfers, transferees/transferors, dates and amounts
  • A history of registered mortgages
  • A history of registered liens
  • And so much more.

Did you know that the Parcel Register* is the fastest, most accurate way to find out if there is enough equity to pay you? That’s an important factor in every real estate transaction, don’t you think?

Are there other people on title to a property not disclosed to you? Are there challenges with equity or surprise information you and your client may not have known? Obtaining a Parcel Register* can help answer these questions.

Also, if you want to know if there are any registered mortgages against a property, a Parcel Register* can tell you the lender, registration date, amount and value. Want to know if there are any registered liens? With a Parcel Register*, you can find out and get information on the registration date, amounts and the individual or company who registered it.

This is powerful information for a real estate sales professional when trying to get the maximum amount of research available to help make informed real estate transactions. You can use it at any stage in the process – from listing to buying – but when your intuition suggests some more investigation, a Parcel Register* can help you make an informed deal.

When you simply want to confirm something, a full property title search isn’t required. With a Parcel Register*, you can get the right information required without doing a full property title search.

To learn more about how a Parcel Register* can benefit you, or want to find out how to order one, visit www.geowarehouse.ca today.

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

 

 

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September 11, 2017

A good property search is key to a successful real estate transaction. To ensure the smoothest process possible, you need to know details about the property, everything from existing liens to costly potential repairs. You need to have access to mapping and research tools to better know the property and surrounding area. You need demographics, legal descriptions and more.

If you take the time and effort needed to do a thorough property search, you can’t help but succeed.

Knowing some of the rookie mistakes that real estate sales professionals make in researching potential properties will help you avoid them.

Here are four common mistakes new real estate professionals make that could stand between you and a successful real estate career:

  1. Not checking homeowner data against the engagement.
  2. Not checking registered mortgages to ensure that there is enough equity to cover commissions.
  3. Not knowing enough about a particular area and thus having to go away and do extra research.
  4. Not having an efficient mobile office to be able to do as much as possible on the go.

It is helpful to have a checklist of information that you can verify on each and every deal. Begin with your preliminary searches that you perform on each deal, and where something seems off – dig deeper. For example, if you run a preliminary property report that shows three mortgages on title, you may want to go that extra step to check for liens. Make sure that you are well equipped when attending open houses with your clients, or when meeting with them to discuss property value.

This is where the tools you use are critical. For example, you can perform a preliminary search in GeoWarehouse and, if needed, order a secondary search in the store with a Parcel Register*. A Parcel Register* provides deeper insights into registrations on a property including exposing liens. Other tools, such as neighbourhood demographics, give you valuable insight and allow you to answer some of the pressing questions clients may have about a particular area of interest. Being able to accomplish as much of this as possible while at a meeting also helps to present you in a professional light.

Avoid rookie research mistakes with GeoWarehouse. Not a customer yet, or just want to find out more about the many reports available? Visit www.geowarehouse.ca today!

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

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A property search is an important source of information to help conduct successful real estate transactions. It is a real estate sales professional’s job to research to the best of their ability to help their clients make the best decision possible.

Buying or selling property is a major life event for most homeowners. They are counting on you to make it happen quickly, efficiently and, most importantly, to their advantage. To be proactive, it’s vital to be properly informed about a property in the early stages of the transaction process. Time is money, so it’s important to look at ways to quickly get your customers answers to the things that are likely on their mind. Are you a mind reader? No, but there are common questions that can be answered before the client even gets a chance to ask…

Here are eight questions clients may or may not ask their real estate sales professional that can be answered with a property search:

  1. What is the home actually worth?
  2. Have there been recent comparable home sales in the immediate area?
  3. What is the neighbourhood profile? Having access to good demographic data enables you to answer your client’s questions about a given area or community.
  4. Are there any encumbrances on the property? Encumbrances may include liens, deed restrictions, easements, encroachments and licenses.
  5. Are there any surveys of the property? Surveys show property boundaries and the location of all buildings and structures in relation to boundaries.
  6. What permits are required for building or renovating? Buyers may choose a property based on whether they can alter the building or build something new.
  7. Are there any liens or other obstructions to a seamless transaction?
  8. What are the zoning, planning or other approvals for the property? This is especially important for buyers acquiring property for new development.

If you want an accurate and current property search, GeoWarehouse subscribers can not only get a variety of customizable searches, subscribers can create customized property detail, neighbourhood sales and demographic reports too! Plus, get access to exterior, aerial and bird’s eye view images of properties and so much more.

Not a GeoWarehouse subscriber yet?

Visit www.geowarehouse.ca today to learn more about this fantastic real estate resource.

 

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July 4, 2017

Real estate sales professionals are constantly up against big competition with DIY homeowners trying to sell their homes themselves. The internet has made it much easier for homeowners to enter the real estate game without the aid of a real estate professional (whether this is a good idea or not).

What consumers don’t realize is that real estate professionals offer key advantages when it comes to selling and buying a home, advantages which make hiring a professional like you the better choice vs trying to go it alone.

One key advantage for customers dealing with a real estate sales professional is the professional’s ability to utilize tools to easily access information the homeowner may not be able to, such as a property search. As a real estate professional, you have access to market information, property information resources and other valuable real estate reports that the average homeowner may not be able to find online, but that you can access through professional tools online. The information in a property search – when reviewed and analyzed by a real estate professional – provides value to the homeowner, including information on who owns a home, if there are any registered mortgages, estimated property value, aerial imagery and so much more.

It’s simple math: the more research you do, the better you can inform your client.

Here are five questions a property search can help answer:

  1. Are there any encumbrances on the property the buyer should be aware of?
  2. Where is the property located? Can you provide a neighbourhood report, listing local hospitals, schools and other pertinent amenities?
  3. Does the property have a history of repairs and renovations?
  4. What permits are required for building or renovating?
  5. Is there anything that may hinder a potential sale?

In real estate transactions, it is critical to verify material information about a property through due diligence – we all know this. With a thorough property search, real estate sales professionals can take reasonable steps to determine and disclose any material information to their clients.

Researching market trends provides you with a better overall understanding of what housing values are in a particular neighbourhood, city or region, from week to week. This allows you to estimate a property’s value before spending resources to dive deeper, and better determine if it’s in the range you were thinking. Instead of always pulling MLS comparables, you can save time by establishing a high-level overview of a particular area.

How deep you dive is really up to you. Start with a property search and then dive even deeper by obtaining a Parcel Register*. The Parcel Register* – which is not a title search, but part of the process – contains valuable information. It’s a snapshot of vital property-related information, such as the property’s legal description, legal homeowners, property transfer history, liens and more.

Having access to the wealth of data available through Parcel Registers* means you can dig deeper when you do a property search, which makes you a more informed real estate professional. Every piece of information that can increase the value of the transaction benefits not only you and your client, but everyone who comes after you in the real estate process. Better research benefits everyone.

Go the distance for your clients by leveraging GeoWarehouse. Visit www.geowarehouse.ca today to learn more about this incredible real estate tool.

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

 

 

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In this week’s edition of training time we help you to quickly access all the information you need in order to be able to quickly perform a search using the map in the NEW GeoWarehouse. The NEW GeoWarehouse includes enhanced capabilities, making performing a search that much easier. It’s so easy that you may not even need this training content, but we are covering it anyways!

Here are some resources you can take advantage of:

  1. Not yet a GeoWarehouse customer yet? Find out more about this amazing tool by visiting www.geowarehouse.ca.

     

 

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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 www.geowarehouse.ca to see how GeoWarehouse makes performing property related research a snap!

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The NEW GeoWarehouse provides you with superior mapping and search capabilities to help you find the property of interest in no time!

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geo2Have you heard the buzz about the new GeoWarehouse? The buzz is with merit because GeoWarehouse has been redesigned to bring you a new and improved customer experience!

A major change is the new enhanced mapping and search capabilities. A new ‘Single Search Bar’ makes it easy to perform a search by address, name, PIN or ARN that also includes recent search activity! You receive real time suggestions as you type your search criteria into the new Single Search Bar. Faster, easier searching – that’s what we’re talking about.

Now, we mentioned property search capabilities on overdrive and we meant it. Do you like searching using the map? New improved map search means that you can perform a ‘Single Click Map Search’, receive quick links to the property report and check out full screen street view. You can use the new location detection feature to quickly find other properties near you.

These changes have been made to make performing searches that much easier. If you are interested in participating in the beta of the new GeoWarehouse visit http://www.gwcollaboration.geowarehouse.ca/.

 

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geo1This week we are getting back to basics! Why? Well, when it comes to this topic, it is one that real estate professionals get confused with all the time. Property title search or Parcel Register*: many think they are one and the same when in fact they are quite different.

The Parcel Register* is an electronic document that contains the transfer and financial history of a property -along with a host of other important information. Often when real estate sales professionals refer to getting a title search, they actually mean Parcel Register*. However, a Parcel Register* is actually just a part of a property title search.

Real estate lawyers commonly perform a full property title search as part of a real estate closing with the Parcel Register* being one element of the full search. Title insurance however has eased this burden and often real estate lawyers won’t perform a complete title search as many things are protected by title insurance. That being said, they will always obtain a current Parcel Register*.

The Parcel Register* is actually one of the most helpful documents in the real estate process because it contains the most current information available and includes a lot of useful information. Some examples include:

  • A legal description of the property and property identification number
  • The legal homeowners of the property
  • The type and percentage of ownership
  • A history of property transfers and transfer amounts
  • A history of registered mortgages and registration amounts
  • Any property liens and more

This is a great way to validate that your client is the legal homeowner. You can also validate that there is enough equity to pay for your services and that there are no financial issues present that you aren’t aware of – not to mention those instances which sometimes arise where something shows up on title that the client is unaware of. This is why many real estate sales professionals will obtain a Parcel Register* when engaging a new client.

You can help your client dig deeper – this is a great practice in due diligence.

Anything registered on a Parcel Register* contains a registration number. You can then use the registration number of any transfer or charge and request the according instrument image. This will enable you to see the document that was registered and the name and contact information of the representative of the party who registered. You can use this to help your client resolve issues that could cause a problem on closing before it gets that far.

So, when you want to verify something simple, know that you don’t need a full property title search to do it. A Parcel Register* can often give you the pertinent information required without doing a full property title search.

GeoWarehouse gives you easy access to the Parcel Register*. To find out more visit www.geowarehouse.ca.

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

 

 

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Here at Teranet we have been working hard to bring you the latest and greatest, most up-to-date tools to make your life a little easier. This meant listening to your feedback and making improvements to our already great GeoWarehouse tool. These changes have been exceptional – and we are excited about the New GeoWarehouse, especially the new and improved map features. Check them out!

The new single-click map search lets you click anywhere for property info- and gives you quick-link access to full-screen Street View and the Property Report:ware1

 

Even cooler though is our real-time location detection- you can find properties near you with a simple click of the mouse or touchpad!

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The New GeoWarehouse gives you the information you want, right at your fingertips – now with even less time spent!

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Sign up to learn more at http://marketing.geowarehouse.ca/acton/form/1288/0106:d-0001/0/-/-/-/-/index.htm.

Not a GeoWarehouse customer yet? Visit www.geowarehouse.ca to find out what you’re missing.

 

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