The Parcel Register*, accessible to GeoWarehouse subscribers, serves as a comprehensive record of a property’s vital information and can help real estate professionals uncover any potential issues.
One of the Parcel Register’s key strengths lies in its ability to uncover hidden mortgage liabilities. By examining the document, real estate professionals can gain insights into the property’s mortgage history, including current and past mortgages, and crucial details about lenders. This information is invaluable for assessing the financial health of a property and understanding potential risks.
Uncovering Mortgage Liabilities:
Details such as dates, involved parties, and amounts related to transfers and mortgage registrations within the Parcel Register can be instrumental in identifying undischarged mortgages or fraud. This foresight can be a game-changer, preventing potential delays in property closings and sparing you from future complications while earning trust with your clients.
Identifying Liens and Encumbrances:
Beyond mortgage details, the Parcel Register is a powerful tool for identifying other encumbrances on a property. Liens, easements, and other restrictions can significantly impact a property’s value and potential use. Real estate professionals can use this information to advise clients effectively, negotiate deals, and avoid potential legal complications.
Mitigating Risks and Enhancing Decision-Making:
Armed with the insights gleaned from the Parcel Register, real estate professionals can better mitigate risks and make informed decisions. Whether assessing the financial stability of a property through mortgage details or understanding potential challenges through encumbrances that can affect closing, the Parcel Register empowers professionals to navigate the complex real estate landscape with confidence.
For those seeking further guidance on incorporating Parcel Registers into their due diligence process, we invite you to register for a Title Documents training session, available on the GeoWarehouse Academy training calendar.
*An official product of the Ontario government pursuant to provincial land registration statutes. The Parcel Register may not include all the information that is required to guarantee your commission. The Parcel Register can be used as a tool in your due diligence process to reduce the risk of closing issues that can affect your commission. The Parcel Register does not guarantee your commission.
