How a Parcel Register Can Help Build Trust with Your Clients
With data derived directly from POLARIS, the Parcel Register* provides the most accurate, complete, and current registered data as it relates to a particular property. This report offers many benefits to your business, including conducting your due diligence, but most importantly, for real estate sales professionals, this report can help you secure your commission and create long-lasting relationships with your clients.
A Parcel Register* is an official product of the Ontario government pursuant to provincial land registration statutes and is available in the GeoWarehouse Store. Delivered as a downloadable PDF (electronic report), it presents the subject property’s legal description, the PIN (Property Identification Number) and the registered owner(s) of the property – shared capacity percentage and type of ownership. It details the history of ownership, along with the registration and can also request a full history of deleted discharged on the home, liens or other types of encumbrances that have occurred since the property was brought into the automated land registration system.
Every registered document appearing on the Parcel Register has a corresponding registration number. If you want to dig a little deeper, you can use the registration number to request the corresponding instrument and view an image of the document that was registered.
Building trust with your clients.
As an industry professional, you understand the importance of fostering long-lasting relationships with your clients. This often comes from building trust.
The Parcel Register is an essential tool in completing your due diligence for your clients and ensuring that they remain trusting in your expertise.
An example of this is if there is a registration on Title that the owner is not aware of – as their trusted advisor, you can have that initial conversion with them so that they can contact their lawyer and have it dealt with far in advance of closing.
This demonstrates to your clients that you’re committed to offering exceptional service and are consistently advocating for your clients’ best interests.
So how can this benefit your business and secure your commission?
Parcel Registers are useful when it comes to strengthening due diligence practices in your business; with a simple search, you have access to extensive insight into the property and the ability to identify encumbrances on the title that may affect land use or equity early in the client engagement.
This report provides you the factual data and insight into a property that may not have been previously disclosed to you by the sellers. Parcel Register* provides you with specific dates, the number of transfers, and mortgage registrations that can help you identify any undischarged mortgages that may delay closing.
Additionally, using a Parcel Register* will help you assess how heavily encumbered the homeowner is with respect to mortgages and liens and how that equity position may affect their ability to finance the commissions.
The Parcel Register can help reveal any issues that may arise in the buying and selling process. This small investment could help save you thousands of dollars in your commission and can provide your clients with confidence in the purchase or sale of their new home.
Parcel Registers, as well as Instrument Images, are available online through the GeoWarehouse Store.
To read more about Parcel Register and the power of data, click here.
If you have further questions about how to use Parcel Registers as a part of your due diligence, register for the upcoming Parcel Register Training Couse or please contact us
*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.