So you just landed a new listing and it is time to open the file. So much to do and so little time. From due diligence, to creating, to promoting your new real estate listings – the more efficient you are, the more profitable you’ll be and the better service you’ll be able to provide to your clients.
Every real estate sales professional has their own real estate listings roadmap. When it comes to using GeoWarehouse when preparing your real estate listing there are a few searches we wanted to highlight that you may know are already in your arsenal.
1. Verify who is on title and the financial standing of the property. Anytime you take on a new listing it is critical to ensure that you are dealing with the legal homeowner(s) and that property title is clear of liens or financial issues. The most current source of this information can be found in a Parcel Register*. This is the electronic document that includes current ownership, transfer history, registered mortgages and liens. If you want to know this information as of the date you engage a new client this search is the best way to do it.
2. Review the insurance claims history on the property and in the neighbourhood. This is huge because you are representing the seller in their listing and obtaining a HomeVerified Report is the best way to know the insurance claims history of the property and in the neighbourhood. Not only do you want to know if there is anything your client should be disclosing but in the event nothing surfaces, this is a sell feature. Home inspectors use these reports to learn of possible issues they can’t see and you should be doing the same.
3. If a condo, get a condo status certificate – yes the giant document that tells you everything there is to know about the condo and condo corporation, including the financial status. The beauty of technology is that these are available online in GeoWarehouse so requesting one when you take on a new listing will mean that it will be ready when an offer is presented.
Taking these steps protects you and your clients. You are protected because you have performed comprehensive due diligence and your client is protected because you may uncover something the client wasn’t even aware of. Depending on how long your client has owned their home, they may have no idea that there have been repeated flood claims on the property simply because nothing has occurred while they have lived there. If it is something they were aware of, you are protected.
This also works towards uncovering potential financial issues and issues with title that could interfere with the deal closing. Again, more things the client may not be aware of like liens, a higher than anticipated mortgage, or even a questionable past use of the property.
Including these real estate searches in your real estate listings road map will mean that you have dotted all of your I’s and crossed your T’s.
GeoWarehouse makes it easy. Find out more at www.geowarehouse.ca.