Are you thinking about entering the real estate market? You should consider doing a real property search first.
A real property search or property information search may contain information that can alter the value of a property. The information may even dissuade you from making a purchase altogether. Let’s look at what a property search can do for you.
What is A Real Property Search?
Real estate is sometimes called real property or immovable property, hence the term “real property search.” Some people call this search a property owner search or property history search.
Either way, it refers to searching public property records related to a property, property owner, or property owner. Bear in mind that any subset of land that has been improved by human legal action is considered real property, so that could include canals, roads, ponds, buildings, etc.
Real estate owners, agents, and attorneys are typically the ones who have the most pressing need to conduct a search into property history public records, but anyone can do so. Records may include interests, deeds, plats, liens, and judgments.
What Information Can I Look Up?
The most important information people tend to look up includes looking for deeds. Deeds are documents that transfer property ownership from one person to the next.
Deeds reveal the rightful owner of a property as it outlines who the grantor and grantee are concerned about a piece property. States have different requirements for conveyancing, so deeds can help determine ownership. Deeds may include a general warranty, unique warranty, or grant.
General warranty deeds are a promise that a clear title came from the previous property owner. You may want to determine the property’s rightful owner when entering into a rental agreement, settling an inheritance dispute, or even if you are just curious about who has moved in next door!
You can also look up information related to:
====> Mortgages: Mortgages reveal liens, lenders, and borrowers on a property’s history. They can also display more about ownership, the sale amount of the property, liens on the property, the date of the sale, and loan information. It will help you assess the current value of a property and may reveal information that may dissuade you from buying the property.
====> Plats: Plats indicate the boundaries of an individual property. If you are a landowner, plats provide an accurate picture of the size of the property and its boundaries, which can be essential when you are building or expanding your property. A plat can also reveal whether or not your property extends to a lake or a pond.
====> Liens: Your property search can reveal information about voluntary and involuntary liens on a property. Liens will also change how an agent gets paid from a sale because the proceeds must first settle the lien holders.
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Why Would I Need to Conduct a Real Property Search?
You would want to conduct a property search if you are:
====> An estate agent to determine whether there are liens against a property
====> To settle an inheritance dispute
====> To determine where the boundaries of your property lie
====> To find out who owns the property you are interested in buying
====> To find out whether a property you are interested in buying has any flaws or disputes against it
Real property records are essential for various professions and people. Knowing more about a property’s history, ownership, liens, and more can help you make an informed decision about whether or not to make a purchase.
Radaris offers a cost-effective, easy-to-use real property search tool you can use when necessary. Considering how important and large the purchase of new property is, can you afford not to do one?
Considering buying a property or owning a property that you’d like to expand, consider doing a real property search today. The information you uncover could save you a lot of money (and heartache down the line).