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On a new listing, you not only want to look at the physical property to ensure that you have disclosed all physical attributes accurately, you should also consider looking at a part of a property title search that is called the Parcel Register.
The Parcel Register essentially provides the history of the property’s title, including ownership, transfers and encumbrances. The Parcel Register is an excellent device that can be leveraged to exercise due diligence when taking on a new client.
Most people don’t intentionally miscommunicate or omit information but if this happens
, it results in an incredible waste of time for all those involved. It causes a complete chain reaction; not only does your time get wasted but so too does the time of the prospective buyer, the buyer’s agent, mortgage broker, lender, real estate lawyer, etc…
Exercising your due diligence at the beginning of a transaction can save you, your client and other parties significant time and expense as problem deals can be quickly identified. There are many issues that come up at the last minute on real estate closings that could be identified much earlier through a Parcel Register. Many of these issues can be overcome through providing the real estate lawyer with documentation as they request it, but knowing and addressing these issues earlier in the process makes closings go much more smoothly.
For more information about how you can obtain a Parcel Register through GeoWarehouse please visit www.geowarehouse.ca or call 1-866-237-5937.