Most lenders request credit reports to assess their clients’ financial standing — but have you ever requested a credit check for a property?
A land title search is the equivalent of a property’s credit check. It can reveal liens, encumbrances, and other instruments that could indicate financial risk.
In an instant, you can verify key information, including:
- The legal homeowners on title — including the type of percentage of ownership.
- The value of the property at the last transfer.
- Registered mortgages.
- Any undisclosed liens or active judgments.
- And more…
On the Purview blog, we are looking at more similarities between a credit report and a property title search, plus how you can access searches online. Read it here: https://www.purview.ca/the-credit-check-for-properties-parcel-register-title-search/